50 jobs are to be created in Shannon by the US based SGS Tools Company, which has its headquarters in Ohio.
The company specialises in rotary cutting tools and its Shannon base will be called Melcut Cutting Tools Limited.
The announcement was made by Tanáiste and Minister for Enterprise Mary Coughlan as she launched the End of Year Statement by Shannon Development, which marks its 50th anniversary this year.
The company said it created 108 net new jobs in 2008 against a difficult global business background.
The chief executive of Shannon Development Vincent Cunnane said that Ireland and the Shannon region are facing tough times but he added in times of crisis Shannon Development had proved it can meet the challenges head on with innovative solutions.
The Shannon Free Zone employs 7,000 people and the company is undertaking a regeneration of the zone to upgrade it as a location for future business entrepreneurs.
