How Limerick city is planning its future after Covid
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How Limerick city will develop into the future post-Covid will be examined in a new report commissioned by Limerick Chamber.
The business representative body has appointed consultants Indecon to conduct a report and issue recommendations for the city's future development. Once complete in early 2021 it will inform lobbying and planning for a revitalised Limerick.
“We are at a critical juncture in the life of our city-centre which will have far-reaching implications for the economic and social wellbeing of the Mid West," the Chamber's CEO Dee Ryan said.
"The Chamber believes we must urgently assess our priorities and review how we’d like our city to change. That is why, in the midst of this global crisis, we are taking action and engaging consultants to assist us to identify what is best for the future of the city.”
Chamber Chief Economist Dr Catriona Cahill said the world is undergoing rapid change and Limerick needs to change with it.
"There needs to be a refocus on targeted outcomes with decisions based on evidence for what is best for the city economically and environmentally. What kind of a Limerick do we want to see emerge from a renewal process?”
Speaking on behalf of Indecon, Alan W Gray, Managing Partner said the study will inform policy to enhance regional cities in Ireland. “Indecon believes this is a critical requirement for sustainable economic growth. The project will compliment Indecon’s previous extensive research in this area in Ireland and internationally”.
In September the Chamber published an economic assessment of the impact the Covid-19 pandemic could have on the region.
It found that tourism in the Mid West could lose up to €500m, while unemployment is still running at almost three times pre COVID-19 levels.
It said the number of Foreign Direct Investment jobs in IDA supported companies in the region now accounts for 11.4%, up from 9.5% in 2012. Furthermore, Limerick ranks second nationally for county-level FDI associated employment at 25.3%, only surpassed by Dublin at 29.1%.
Shannon Airport, which has lost its Ryanair base for the winter, contributes €3.6 billion to the economy and supports 45,595 jobs.
During the summer Limerick City and County Council partnered with Clare County Council to prepare retail strategies that would cover three geographic areas; Limerick Shannon Metropolitan Area; Co Limerick; and Co Clare.
In relation to Limerick, a previous retail strategy highlighted that the city centre fell behind other Irish cities and no longer performed to its “tier 1 status” in the shopping hierarchy and that too much trade was lost to suburban locations.
The new strategy will aim to reposition Limerick’s city centre at the top of the retail hierarchy by improving the range and quality of shopping on offer, enhanced customer experience of visiting the city centre.
Chamber President David Jeffreys said the Chamber is uniquely focused on the regional specific challenges and opportunities.
"Our mission is to be a pro-active driver for a vibrant city and region with global ambition. Our decision to commission the report at this significant moment is born from the concerns we have for the city."
"Many of the scars from the last recession can be still be seen on our beautiful streets in the form of vacant and undeveloped units. The Chamber is determined to do everything we can to position Limerick for a speedy recovery from the Covid economic crisis."
"In commissioning this report we are taking action on making informed plans for a better Limerick for future generations," he said.
The Limerick Chamber commissioned report from Indecon is expected to be published in early 2021.