€4m Monksland innovation hub being used by just one company

A State-funded 'innovation hub' in Monksland has been used by just one company in the 17 months since it was officially opened by then-Minister Heather Humphreys.

The Monksland Innovation Hub building was formally launched by the future presidential candidate in May 2024, shortly before the last local elections.

At the opening of the 14,000 square foot premises in Daneswell Business Park, then-Minister Humphreys said it would provide "co-working and training facilities, and a soft landing space for companies starting out."

The top floor of the facility is currently being leased to the multinational pharmaceutical company Alkermes. To date, however, no start-ups or other companies have used the premises.

The hub was developed with the help of a €3.2 million grant from the Government's Rural Regeneration and Development Fund, as well as an additional sum of more than €1 million from Roscommon County Council.

In response to a query from the Westmeath Independent, a Roscommon County Council spokesperson this month confirmed Alkermes had entered into an 11-month lease, for part of the building, in May of this year.

The council spokesperson said that another company had also expressed an interest in acquiring a unit at the facility, and that it was "being actively promoted as a connected hub".

Extensive construction work on the first floor of the building was completed earlier this year after which time Alkermes - which had previously been using the ground floor of the building - took out a lease for the first floor.

"I can confirm that Alkermes have taken an eleven month licensing arrangement at a rate of €12,190 per month with effect from May 6 last," a Roscommon council spokesperson told the Westmeath Independent.

"We can also confirm the local authority have received an expression of interest from a company named Mercury Rising, who have confirmed their interest in acquiring one unit at our facility.

"I can also confirm that the hub is being actively promoted as a Connected Hub and will be advertised extensively to this effect."

The local authority spokesperson went on to say that "active discussions are at an advanced stage with a further potential stakeholder," but "as these discussions are ongoing, we are not at a liberty to reveal who that stakeholder is, for now."

Earlier this year, a spokesperson for Alkermes told the Westmeath Independent it was "excited to lease the first floor above the Monksland Innovation Hub," stating that approximately 50 people would be working there.

Alkermes, which merged with Elan in 2011, has been based in Monksland for many years. Its larger manufacturing facility there was sold to Novo Nordisk last year.