Pharmaceutical company Astellas Pharma is to submit a planning application to build a new €330 million state-of-the-art facility in Tralee, Co Kerry.
When fully operational, the facility will create more than 100 highly specialised science, engineering and technology roles, with potential for continued growth.
Throughout the course of the build more than 600 construction jobs will be created.
Subject to planning permission, construction will commence in 2024, with the site expected to be operational by 2028.
The plant will be based at an IDA greenfield site in the Kerry Technology Park.
Astellas said the new facility will expand its capacity and capabilities for aseptic drug products.
It will also help accelerate the development and commercialisation of innovative antibody drugs and other new products.
"With the new facility, Astellas will aim to strengthen our in-house production capacity and capabilities and ensure a stable supply of high-quality Astellas medicines to patients around the world," said Hideki Shima, Chief Manufacturing Officer at Astellas.
Minister for Enterprise, Trade and Employment Simon Coveney welcomed the announcement.
"The substantial investment it will bring, coupled with the promise of highly specialised engineering, science and technology jobs, is of great importance for the South West region," Mr Coveney said.
Michael Lohan, IDA Ireland CEO, said the investment underscores the strategic importance Ireland plays in Astellas' global operations.
"The new facility in Tralee will be built with sustainability at its core and will showcase Ireland and our regional attractiveness as a location for investment," Mr Lohan said.
Astellas said its new facility in Tralee will be built in line with international best practice in energy and environmental design.
