The chairman of the state's Digital Media Hub company Paddy Teahon is predicting that £250m worth of private investment will be raised for the digital district based in the Liberties-Coombe area of Dublin city.
Launching a discussion plan for the development of the district today, he also revealed that the company can invest a further £50m in the project depending on the level of private sector spending.
The company has a budget of £58m for the development of two areas which are being bought by the state from Guinness - the hopstore and a site north of Thomas St.
Combined with the private sector, the company will develop nine acres for the hub, including digital and interactive TV businesses, film and Internet, e-music and e-cinema as well as software.
Media Lab Europe, now based at the hopstore, has already received £28m from the state.
The state company is also planning for the retail development of the area, with shops, bars and restaurants as well as cultural and tourism facilities, including a third level virtual academy for digital arts.
Paddy Teahon said today the company was appealing for feedback from enterprise, education and the local community so that a definitive business plan could be put before Government in the Autumn.
