A pharmaceutical company is to create 300 jobs at the former Dell site in Limerick.
Regeneron is to set up a state of the art bio pharmaceutical plant in Raheen.
The jobs will come on stream by 2016.
The €300 million investment which is subject to planning approval will see the company hire scientists, engineers, technicians and administrative personnel.
The company develops drugs to treat some forms of cancer and sight loss
It will involve a massive refurbishment of existing buildings on the site which have been vacant since 2009 and the construction of a quality control laboratory, which will turn the site into a world-class biopharmaceutical campus.
Construction is expected to begin next year generating up to 600 temporary construction jobs over two years for local contractors.
"Regeneron is one of the largest and fastest-growing biopharmaceutical companies in the United States," said Daniel Van Plew, Regeneron's Senior VP & GM of Industrial Operations and Product Supply.
"Pending planning approval, Limerick will become our second industrial production site, expanding our manufacturing capacity into Europe and facilitating the delivery of a growing supply of medicines for patients worldwide."
Barry O'Leary, CEO of IDA Ireland said, "Regeneron's decision to locate this strategically important investment here is a clear endorsement of Ireland's recognised strengths in the pharma and BioPharma field. BioPharma companies like Regeneron are currently developing and manufacturing the "next generation" of medicines. This activity represents the cutting edge of innovative drug development and requires skilled, highly qualified staff. This announcement is a reflection of the attractiveness of Limerick and the Mid-West region to leading global investors. Regeneron joins a thriving life science sector in the region which offers excellent employment opportunities and makes a substantial contribution to the local economy. IDA Ireland took a strategic decision to target the biopharma sector in recent years."
