A new campaign aimed at attracting new companies and investment to Galway and the west region has been launched today.

The "Why Galway" initiative from Galway Chamber is seeking to bring 40 foreign direct investment companies to the area over the next five years, generating up to 3,000 additional jobs.

The new campaign will also promote Galway and the west as a location for domestic enterprises and entrepreneurs.

It is targeting to grow the total number of active enterprises in Galway city and county to 16,500 by 2026, supporting 80,000 people.

The new campaign is supported by Galway Chamber, Galway City Council and over 50 different stakeholder groups or organisations.

It will highlight the many advantages to enterprises from both home and abroad who choose to locate in Galway or the west and will emphasise the appeal of the area professionally, culturally and educationally.

The thriving enterprise eco-system in Galway will also be accentuated, along with the vital space options in the city and county available through more than 20 development hubs.

Attention will also be brought to the flourishing med-tech and ICT sectors active in Galway, as well as the benefits of investing, working, living and studying in the west of Ireland.

As well as the Irish market, Why Galway will look to connect with targeted audiences in China and Asia, the US, Britain and across Europe.

16 foreign direct companies have either been announced or expanded their operations in Galway in the last 3 years, creating a total of 1,225 new jobs during that period.

The companies include Genesys, HID, Diligent, Rent The Runway, The Knot Worldwide, HPE, Globalization, Valeo, Fidelity, Triggerfish and A-Lign.

Kenny Deery, CEO of Galway Chamber, said Galway has become a hotbed of entrepreneurship and international business in recent years.

"We have witnessed the blossoming of the medtech and ICT sectors, with many enterprises recognising the appeal of Galway as a location. Now we want to ensure that growth continues and that is why we have launched Why Galway," Mr Deery said.

He said the campaign aims to bring together all the many virtues of Galway and the west as an area to live and work.

"We are confident that the many benefits as a location provided by Galway and the entire region are striking a chord both internationally and domestically. Our research shows that we have a lot to offer in terms of enhanced work/ life balance, access to accommodation and education, access to business space, connectivity and from a cultural perspective," he said.

"Geographically we may be on the edge of Europe but the growth of the many enterprises who call Galway and the west home has shown we have never been more connected to Europe and the rest of the world," he added.