Shannon Development has identified investing in the knowledge-based economy as a key response to the current economic turbulence now embracing the country.
In its end of year statement, Shannon Development says it was a very tough year for industry and tourism.
The company's chief executive, Kevin Thompstone, said the key to Ireland's future economic success in the global economy lay in its ability to achieve the same dominance in the knowledge economy as it has in the traditional industrial economy.
This means, he said, prioritising investment in activities based on the production, distribution and use of knowledge and information.
Shannon Development plans to provide a 'Regional Development Laboratory' which will concentrate on researching, concepting and piloting a range of new ways to help entrepreneurs and companies find better, faster, efficient and therefore more competitive ways to produce their goods.
He also called for a stronger Atlantic alliance between public and private agencies stretching from Cork through Limerick/Shannon and up to Galway as a means of providing a counterbalance to the explosive growth currently taking place in the greater Dublin area.
