Shannon Development (legally the ''Shannon Free Airport Development Company Limited'' formerly known as SFADCO) was an important regional development body for the Shannon Region of
Ireland
Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...
. Its area in the lower
River Shannon
The River Shannon ( or archaic ') is the major river on the island of Ireland, and at in length, is the longest river in the British Isles. It drains the Shannon River Basin, which has an area of , – approximately one fifth of the area of I ...
basin comprised all of counties
Clare,
Limerick
Limerick ( ; ) is a city in western Ireland, in County Limerick. It is in the Provinces of Ireland, province of Munster and is in the Mid-West Region, Ireland, Mid-West which comprises part of the Southern Region, Ireland, Southern Region. W ...
, and the former
North Tipperary, as well as north
Kerry and west
Offaly. Its key founder was
Brendan O'Regan.
Shannon Development worked with, but was not an agency of,
Forfás.
Responsibility
Shannon Development was set up as Shannon Free Airport Development Company by the
Irish Government
The Government of Ireland () is the executive authority of Ireland, headed by the , the head of government. The government – also known as the cabinet – is composed of ministers, each of whom must be a member of the , which consists of ...
in
1959
Events
January
* January 1 – Cuba: Fulgencio Batista flees Havana when the forces of Fidel Castro advance.
* January 2 – Soviet lunar probe Luna 1 is the first human-made object to attain escape velocity from Earth. It reaches the ...
to promote the airport and region.
Shannon Airport
Shannon Airport () is an international airport located in County Clare in Ireland. It is adjacent to the Shannon Estuary and lies halfway between Ennis and Limerick. With almost 2 million passengers in 2023, the airport is the third busiest ...
was built at a strategic point on the early transatlantic flying route, but with the age of the jet, its fortunes declined. In 1969
Aer Rianta took responsibility of the airport.
Shannon Development was responsible for a number of areas of development of the region including tourism and industry similar to
IDA Ireland. The agency was responsible for
Shannon Free Zone and National Technology Park on which the
University of Limerick
University of Limerick (UL) () is a Public university, public research university institution in Limerick, Republic of Ireland, Ireland. Founded in 1972, as the National Institute for Higher Education, Limerick, it became a university in Septemb ...
is located.
Shannon Town was also created and managed by the company until it was transferred to Clare County Council in 2004. This property transfer was the biggest property transaction in the history of the state.
Shannon Development also acted as a landlord for many companies in the region. Companies that qualify, paid rent to Shannon Development. In return the company can apply for
Enterprise Ireland grant funding through Shannon Development. This constitutes a symbiotic relationship.
The government reviewed the role of the agency in July 2005 and its functions are being realigned. Under the new arrangements, Shannon Development will have an enhanced regional economic development role with a particular emphasis on addressing the needs of the less developed parts of the Shannon region. It will also retain responsibility for the Shannon Free Zone industrial park. The existing enterprise support functions (carried out by Shannon Development in relation to both indigenous and overseas enterprises) will be assumed by the national agencies,
Enterprise Ireland and
IDA Ireland.
Shannon Development became part of Shannon Group plc on 10 November 2014. To emphasise a more commercially focused property remit, Shannon Development was renamed Shannon Commercial Enterprises Ltd, trading as Shannon Enterprises.
Shannon Heritage
Shannon Heritage, a member of the group, is a semi-state commercial body responsible for operating tourist sites including
the GPO, and
Craggaunowen.
In August 2019
Fingal County Council announced Shannon Heritage were to be appointed to run the
Fry Model Railway when it re-opens in addition to
Malahide Castle and Demesne which they already operate.
See also
*
Celtic Tiger
The "Celtic Tiger" () is a term referring to the economy of the Republic of Ireland, economy of Ireland from the mid-1990s to the late 2000s, a period of rapid real economic growth fuelled by foreign direct investment. The boom was dampened by ...
*
Economy of the Republic of Ireland
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with ...
References
External links
Shannon DevelopmentEnterprise IrelandIDA Ireland
*https://web.archive.org/web/20110721125013/http://www.irishpressreleases.ie/printer-page.php?p=1538
{{authority control
Economy of the Republic of Ireland
Defunct government agencies of Ireland