Galway 2023: Why City of Tribes consistently punches well above its weight
While there are many challenges on the horizon, Galway city is well placed to further cement its place as a major economic, industrial and cultural hub
As the third-largest city in the country, Galway carries a lot of sway in its enterprise and cultural and output to Ireland and internationally.
The last 12 months have seen it go from strength to strength and have been exceptional, said Kenneth Deery, chief executive of Galway Chamber of Commerce.
“There are a lot of brilliant things happening to the point it’s a challenge to keep up,” he said. “Which is a great sign for the region as the ambition is there.”
The collaboration between the different institutions and stakeholders is crucial to the city’s future. One such example is the Greater Galway Forum, which consists of 15 organisations coming together with the shared goal of moving Galway forward.
It recently signed a charter for the future of Galway signed by the presidents of both Galway universities, the mayor of Galway and the president of the Galway Chamber of Commerce.
“The focus is a principles-based approach as to how we will develop the city and the region into the future.”
The biggest challenge, says Deery, is unlocking the transport infrastructure needed. Part of this is under way through Irish Rail’s expansion of Ceannt Station from two platforms to five and work done in other stations like Oranmore.
Major projects such as Sandy Quarter are also in train. This is a project, in partnership with the Land Development Agency (LDA), to transform the land surrounding Galway’s Sandy Road into a new urban quarter.
Another project is Bonham Quay, located on an industrial site overlooking Galway Docks, and costing €104 million. Yet another, Crown Square, involves a €200 million office, hotel and housing development, bringing together mixed-use projects in one place.
“These aren’t medium to long-term projects, it’s now,” said Gary McMahon, head of Economic Development, Tourism & Culture for Galway City Council. “Over €4 billion of development is planned over the next ten years in Galway city.”
Arts and culture have been a strong factor, with Galway being marked as a Unesco City of Film and a European Capital of Culture in 2020, not to mention significant events like the Galway Film Fleadh, which enhances its reputation both in Ireland and overseas.
“Those who will ask what makes Galway different, it’s a small city, but the cliché about huge ambition [rings true],” said Deery. “One of the huge things is the impact that culture has, and culture is a driver of business . . . there’s a strong legacy there.”
The economic importance of the creative sector to Galway city is significant, with Deery mentioning how strong a year the city has had in tourism. He mentioned that in conversation with some retail outlets, he has been told they have doubled and, in some cases, tripled their trade during the summer.
The city is a major hub for technology and innovation, with a large concentration of medtech and pharmaceutical companies.
Much of this ties into the strong education core it has in the region, with the University of Galway, Atlantic Technological University, and the ATU Innovation Hubs nearby. That talent pipeline, especially from the innovation hubs, has led to significant developments, said Paul Mee, partner of tax at Mazars.
The business innovation hubs “are spinning out fantastic ideas. There have been quite a few start-ups from people who have left one of the major life science or medical companies to create new medical products to improve what’s on the market. Quite a few of those have been extraordinarily successful.”
That’s not to mention the hubs designed for enterprise and innovation. With the ongoing development of a state-of-the-art Crew Enterprise Hub, the first hub in the west region, and with others like Porterhouse giving start-ups opportunities to grow and develop, the future looks very bright for Galway city.
