A new €8 million innovation and enterprise hub has been announced for the south-east region.
The facility will aim to provide support for manufacturing, export-focused and technology-driven businesses across the region.
The Catalyst HQ project is also projected to create 175 direct jobs and the same number of indirect jobs in its first 15 years of existence.
Under the plan, two modern buildings will be constructed on O'Brien Road in Carlow Town to house the innovation and enterprise hub.
Construction is set to begin in the second quarter of next year with the project expected to be completed in 2028.
The project aims to foster a long-term culture of innovation and collaboration amongst entrepreneurs based in counties Carlow, Kilkenny, Tipperary, Waterford and Wexford.
The facility will also provide expertise to businesses seeking to "streamline international trade processes, access high-quality market intelligence and adopt advanced technologies to enhance competitiveness".
The first phase of the project was launched by the Minister for Enterprise Peter Burke at Enterprise House in Carlow town this evening.
South East Catalyst Innovation Company CLG, trading as Catalyst HQ, will lead the project in collaboration with Carlow County Council, Carlow Chamber, Propellor BIC, South East Technological University, Carlow County Development Partnership and a specialist panel of enterprise advisers.
Funding for the project has been partially allocated to Catalyst HQ from Enterprise Ireland’s Smart Regions Enterprise Innovation Scheme.
David Walsh, the lead of the specialist panel of enterprise advisers, said that Catalyst HQ will be the "first of its kind" and a "game changer" when it comes to supporting businesses in the south-east.
He said: "While having a state-of-the-art building is important, what truly matters is the network behind it.
"It will feature a community of experienced entrepreneurs willing to support the next generation, and an ecosystem of professional services essential for starting and scaling successful businesses.
"This investment on O’Brien Road by Carlow local authorities, supported by Enterprise Ireland, will accelerate entrepreneurship, drive innovation and support meaningful job creation across the region," he added.
Meanwhile, Kieran Comerford, Head of Enterprise and Economic Development with Carlow County Council, said the new hub will help businesses in the region to reach their full potential.
He said: "Micro-businesses with a staff of ten or fewer are the largest employment group in the south-east.
"However, in Carlow, just 17% transition to small businesses (10-49 staff), which is below the 28% regional average.
"Catalyst HQ has been designed as a transformative regional asset that will empower businesses at every stage of their growth journey.
"Through targeted interventions, sectoral supports and knowledge transfer, Catalyst HQ will help position south-east businesses for sustainable expansion in an increasingly competitive global marketplace," Mr Comerford added.
