Paddy Malone (right), PRO Dundalk Chamber of Commerce, and Shona McManus, President Drogheda Chamber of Commerce, with Minister Eoghan Murphy TD at the M1 Corridor Launch held in Bellingham Castle
President of Dundalk Chamber of Commerce Pat McCormick has praised the new M1 Corridor project for “firmly putting the region on the map” when it comes to major future foreign investment for the area.
The M1 Corridor, which runs from Drogheda to Newry, and includes Dundalk, is now a direct competitor to Dublin or Belfast as a location for business investment.
Speaking at the launch of the new project at Bellingham Castle in Castlebellingham on Monday morning, PRO of Dundalk Chamber of Commerce Paddy Malone said the M1 Corridor will be of “critical strategic importance to the country as a whole”.
“For countless years there has been far too much emphasis placed on Dublin and this has backfired in terms of spiralling housing, commercial property and wage costs for firms moving to Ireland,” he said.
“The M1 corridor is close to Dublin but also highly cost competitive and will be of critical strategic importance to the all-island economy in the decades ahead.”
He continued: “The M1 project now offers us the ideal platform to highlight the region’s potential, from Drogheda to Newry.
“This plan is to encourage new companies, be they foreign or otherwise to consider this region first. We also wish to invite those that need a second location. This has already been successfully done by PayPal,” added Mr Malone.
Selling the critical advantages of being based in the area to new business, is vital, says Mr Malone.
“The M1 Corridor Project has been carefully developed by local business groups on both sides of the border for over ten years and will bring new investment and jobs into the Drogheda-Dundalk-Newry region. Our critical objective is to highlight the huge advantages of the region in comparison to Dublin or Belfast as a location for investment.”
Pat McCormick added that he was delighted that after three years of lobbying, specifically on this, and many years pleading for a special case, they had taken the opportunity presented to put the region firmly on the map from Drogheda through Dundalk to Newry.