Over 400 investors, entrepreneurs, business leaders and policymakers gathered at the Síorghlas Investment Summit at Dexcom Stadium, Galway as the Western Development Commission made the case for the west of Ireland as a driver of national economic growth.
The summit saw the launch of a new WDC Report – an independent analysis of the socio-economic impact of the Western Investment Fund, carried out by Indecon International Economic and Strategic Consultants. The report sets out the evidence base for continued investment in the region.
The findings were striking: over 25 years, the Western Investment Fund (WIF) has generated €10.8 billion in economy-wide revenue, returned €635 million to the Exchequer, and grown from an original state investment of €31.75 million to a current fair value of €120 million — nearly four times the original outlay. The fund today supports 11,535 jobs across the Irish economy, with direct employment in WIF-backed companies having doubled in the past five years.
Allan Mulrooney, Chief Executive of the Western Development Commission, said: “More than 400 people came to the west today. Not to talk about what the west needs but to show what the west has built. We have the companies, the talent, the ecosystem, and now we have the evidence. The WDC Report confirms what we already knew on the ground: this region is a net contributor to the national economy.”
Delegates heard that the transformation of the western region’s enterprise base is structural, not cyclical. The region now has a deep concentration of export-led companies in medtech, technology, life sciences, and the creative industries – sectors anchored by skilled workforces and innovation infrastructure.
The knowledge intensity of WIF-backed businesses reflects this shift: over 70% of employees hold graduate qualifications, against a national average of 57%, and WIF-supported companies have filed 2,556 patent applications, with the vast majority granted. The western region has surpassed the Southern Region on the European Innovation Scoreboard and is closing rapidly on the innovation-leading Eastern and Midland Region.
The enterprise ecosystem is also self-reinforcing. The WIF’s commercial model has leveraged €795 million in additional investment from the private sector alongside its €101.8 million in direct disbursements, a 25x multiplier on Exchequer funding, and demonstrating that private capital follows where public investment leads.
Gillian Buckley, Head of Investment for the Western Investment Fund, said: “The summit today is evidence in itself. When you get more than 400 enterprise leaders, investors and policymakers into the room, it tells you something about the confidence in a region. The companies we have backed are competing globally. 89% of their revenues are export-derived. They are filing patents, retaining graduates, and creating the kind of jobs that keep people in the communities they grew up in. That is what a resilient national economy looks like. It does not all happen in one city.”
With 89% of WIF-backed companies’ revenues export-derived and €6.3 billion in exports generated, the western region contributes directly to Ireland’s international trade position. The €6 billion in Gross Value Added generated by WIF-supported activity represents a significant and growing share of national output originating outside the country’s traditional economic core.
The WDC’s 2025–2029 strategy – Unlocking Potential, Driving Change – sets out four pillars for the period ahead: enabling the enterprise ecosystem; strengthening partnerships and influence; building sustainable communities; and progressing social innovation. Today’s summit signalled that the strategic direction and political will to deliver on those pillars are firmly in place.
The summit also heard that the WIF’s impact runs deeper than commercial enterprise. The WIF Community Loan Fund has supported 150 projects across the region, with nearly 99% of the western population living within 15 kilometres of a WIF-supported community organisation or social enterprise.