For a number of years, Cork City has been earmarked to become the fastest growing city in the country. Cork Business Association (CBA) welcomes the announcement made yesterday that in excess of €2.5 billion is to be invested in Cork in the areas of housing, sustainable transport, parks, public spaces and climate resilience between now and 2030 in what will be unprecedented transformation.
Among the investments announced include:
- €1.9 billion on housing
- €120 million on walking and cycling facilities including Marina Promenade upgrade
- €200 million on rail and light rail planning and design
- €190 million on Cork Docklands
- €40 million on flood prevention
- €35 million on new city library
- €25 million of public realm improvements – Grand Parade Quarter and Bishop Lucey Park
- €14 million on Marina Park Phase 2
The CBA has long expressed frustration that despite being the country’s second city, insufficient national exchequer funding has been allocated to allow Cork to achieve its ambitious growth targets. The capacity for Cork City to grow has been constrained by the lack of commitment from national government to spend on major infrastructure, public transport and housing projects in Cork City.
CBA, which recently formed a new ‘Cork City 2030’ committee, say this announcement and investment in Cork is ‘game-changing’. They are especially delighted to see housing at the top of the priority list. Over the past number of years, the organisation has repeatedly highlighted that businesses are struggling to attract and retain employees because of the lack of accommodation available. They have also stressed that if spending on public transport and public realm is to be supported, then there needs to be a critical mass of people living in the City and along public transport corridors in order to sustain this major investment.
President of the Cork Business Association Kevin Herlihy said: “This is fantastic news for Cork and demonstrates the seriousness of the commitment from National Government to put in place the necessary circumstances for significant growth to occur. There will be disruption but it will be game-changing for our city. We will have a more liveable, better connected and greener city.”
Mr Herlihy continued, “The announcement aligns perfectly with the Cork Business Associations new Strategic Pillar ‘Cork City 2030’ which was announced last week at the launch of our 5 year Strategic Framework. Our executive intends to link with Cork City Council to help achieve key public transport, walking and cycling, housing and environmental priorities, and will ensure business community continues to have a voice in Cork City’s future.”
The organisation is also cautiously optimistic about the Cork Events Centre.
Cork Business Association is hosting a breakfast event at the Clayton Hotel on the 21st of February 2024 entitled ‘Cork 2030: Towards a Net Zero Carbon City’. To register see the events page on corkbusiness.ie.