Galway City has just been crowned as Europe’s Micro City of the Year by the Financial Times.
In a study of the most promising investment locations in Europe, fDi Magazine – a Financial Times publication – has crowned Galway City a winner of a European City and Region of the Future 2014/15 title and ranked Galway City as Best Overall Micro City in Europe, 2nd place as Best Micro City for economic potential and 2nd place Micro City for economic potential and third best Micro City in business friendliness.
Crucially for its categorisation Galway City is the only micro city to be listed in the Top 25 overall European Cities of the Future.
Brendan McGrath, Galway City Manager, welcomed the awards and the categorisation of Galway within the Top 25 Cities of Europe as a significant endorsement of Galway City and its potential to lead the west of Ireland as a place for investment and economic development.
The City Manager went on stress that “the City Council would have to be seen to lead Galway City as a major city to attract foreign direct investment and that the staff of the Council would work with the IDA to support investment-led visits to Galway City & the west of Ireland region. If we don’t take on this role, and ensure that Galway City gets its share of FDI visits and market the city internationally as a city of economic potential, then we can’t expect support from other agencies of the state.”
Adding to this Liam Hanrahan, Economic Development Unit, Galway City Council explained that the survey had examined data that was collected from 468 locations, both cities and regions, in five categories:Economic Potential, Human Capital and Lifestyle, Cost Effectiveness, Infrastructure and Business Friendliness.
Galway City Council went on to make a short submission which reflected on the ability of the City Council, other agencies and the business community in general to work together to promote Galway. This submission included work done in meeting with IDA company CEOs on a regular basis, the annual Meet West conferences, the changing role of the local authorities in being more central to enterprise development etc.
He added that “The data from the survey & the awards will be used to promote and market the city – both by the City Council and by the IDA. The data will also be a valuable source of information for the development of a new Galway Economic Strategy & Action Plan to be developed in 2014 and will be a support for Galway as it strives to become the European Capital of Culture 2020”