6.2 - Achievements
During the period of the last development Plan, Dublin’s economy continued its recovery from the last recession and there were a number of significant achievements which have added to the economic competitiveness, attractiveness and vitality of the city.
Foreign Direct Investment
Significant foreign direct investment (FDI) of scale has been secured in Dublin City over the last plan period. Dublin is home to some of the most influential multinational corporations, with substantial clusters in technology, finance and professional services. Within Dublin Docklands, there are over 500 firms operating, including more than half the world’s top 50 banks and top 20 insurance companies. Dublin is also a major global hub for fund administration, aircraft leasing, insurance and a range of wholesale banking activities.
A significant cluster of ICT type uses has emerged in the southeast inner city/Grand Canal Street area, following Google’s decision to locate their European headquarters in Barrow Street in 2011. The area has become home to Facebook, LinkedIn, Airbnb and Amazon.
Grand Canal Innovation District
The Grand Canal Innovation District (GCID) initiative was launched in 2018. The GCID is a national level €1 billion plan to create a hub for innovation world class university research facilities and a start-up ecosystem in the Grand Canals Dock, with a new TCD university campus acting as a connector.
The aim of the initiative is to provide a cluster linking start-ups and growing and established enterprises with research, innovation and academia to promote sustainable economic growth, enhance competitiveness and boost FDI and to benefit the local community.
SMART Districts
Smart Dublin is an initiative founded by the four Dublin local authorities which brings together technology providers, academia and citizens to transform public services and enhance quality of life.
In order to accelerate innovation, Smart Dublin has adopted a ‘Smart District Approach’, concentrating new technology pilots in targeted locations across Dublin. The first Smart District, Smart Docklands, was launched in 2018, with four further districts having come on-stream to date; Smart DCU, Smart Sandyford, Smart Balbriggan and Smart D8.
EU Programme Participation Strategy
Dublin City Council recently launched its EU Programme Participation Strategy 2021 – 2027 which will support the identification of opportunities within the EU Partnership Programmes and Projects and EU funding streams to realise Dublin City Council priorities but also contribute to the target areas identified by the European Commission.
This strategy, which builds on Dublin City Council’s track record of participation in a range of EU Programmes, will focus on the following areas: Smart & Digital, Green & Climate, Social & Economics and Urban & Regional Development. A key pillar of the strategy is the establishment of a Dublin City Council EU Programmes Office to provide efficient support services for staff participating or intending to participate in EU partnership projects.
Placemaking and Branding
A number of significant public realm improvement works have been implemented under the Public Realm Masterplan in addition to greening strategy interventions.
Significant work has also been undertaken with regard to Place Branding with the new initiative Dublin.ie. This platform (www.dublin.ie) sets out key information regarding living, working, investing and studying in Dublin. A series of successful campaigns to encourage support for local business and to enhance citizen well-being were delivered as a recovery and resilience response to the impact of the pandemic. Dublin City Council also supports the visitor place brand www.visitdublin.ie managed by Fáilte Ireland.
Regeneration and Vacancy
There has been significant regeneration in Docklands (North Lotts and Grand Canal Dock area) both north and south of the river Liffey, with new office space in addition to residential and mixed use development. Poolbeg West has been designated as an SDZ and the Planning Scheme for the area proposes a significant quantum of office/enterprise space with a range of typologies to accommodate different types of uses.
A strategic Study of all Z6 and Z7 lands was undertaken over the last plan period, followed by a number of variations to the current Dublin City Development Plan to facilitate the repurposing and redevelopment of these strategically located lands for more intensive and appropriate mixed use development.
Sectoral Developments
There has been significant investment in the tourism sector and in particular, the provision of new hotels. In addition, new tourist visitor attractions have been developed, including, the Irish Emigration Museum (EPIC) on Custom House Quay, The Vaults at John Lane West and the Tenement Museum on Henrietta Street.
Fáilte Ireland initiated a number of tourism ventures of note such as the Docklands Visitor Experience Development (VEDP) Plan, a Visitor Orientation Strategy and have collaborated with Dublin City Council to develop ‘Dubline’, an international quality, walking heritage trail from Parnell Square to Kilmainham.
In the education sector, significant recent developments include the consolidation of the TU academic facilities into the new campus at Grangegorman and the ongoing programme of investment in the DCU campus. In the healthcare and health sciences sector, the construction of the National Children’s Hospital has commenced in the St. James’s Healthcare Campus.
Finally, Dublin Port continues to modernise and consolidate its operations with the company making considerable infrastructural investment at the port to facilitate larger vessels and provide for increased capacity.
Local Initiatives and Economic Development
A significant achievement in relation to the economic development of local communities across the city during the course of the last Development Plan period has been the implementation of the Dublin City Local Economic and Community Plan (LECP) 2016–2021.
The Dublin City Council Local Economic Office (LEO) are responsible for the implementation of the economic actions in the plan and have provided support to a number of projects and initiatives over the past number of years that contribute significantly to the city economy.
During the Covid 19 global pandemic; the Local Enterprise Office and Economic Development supported 19,939 businesses. Dublin City Council, through their financial team and LEO Financial team administered Direct Financial Supports to the value of €107.6 million.