Galway’s growth story faces an infrastructure test

Galway has the talent, enterprise and international business presence to drive significant economic growth. But without the infrastructure to support expansion, the city risks losing opportunities to other regions.

For Austin Sammon, audit and business advisory services partner at Forvis Mazars Galway, the firm’s expansion reflects the city’s economic progress. Having moved into a new 16,500-square-foot office, the practice now employs 117 people.

“We moved into our previous office in 2018, when we had 35 people, and now we’re up to 117. It’s a great story, and it reflects what has happened in Galway more generally.”

The city’s concentration of medical technology and pharmaceutical companies, two universities and an expanding professional services sector has created a strong business ecosystem. The presence of major international companies, alongside successful local enterprises, continues to attract investment and foster entrepreneurship.

“Having the big brands in our industry, the large professional practices and the major legal firms in Galway attracts business and activity to the city. It is then up to us to win our share, and we have done that very well.”

Forvis Mazars has targeted construction, life sciences and technology, supporting businesses at different stages of development. Sammon sees particular potential in Galway’s ability to nurture early-stage companies and develop internationally recognised medical products.

“Galway is quite unique in the way it supports earlier-stage companies. Previous success stories have helped create an environment where new businesses can develop, attract funding and grow. Galway is known internationally for producing entrepreneurial medical products, in particular.”

However, a shortage of suitable commercial space has previously encouraged businesses to consider other cities, including Limerick. Although new office developments, particularly around the docks, have improved availability, Sammon says continued provision will be essential to accommodate further growth.

“When businesses go elsewhere, they don’t simply move into a building temporarily and then come back. They are gone, and that is a lost opportunity for everybody. We want to see those capabilities developed locally.”

Housing and traffic pose even greater challenges, particularly when it comes to recruiting staff. Forvis Mazars has recruited internationally, but some prospective employees have struggled to find accommodation, forcing them to begin working remotely from their home countries while searching for somewhere to live.

“People can spend weeks trying to find somewhere to live, and they start questioning whether they are making the right decision. We have had people who committed to coming here ultimately withdraw because they could not find accommodation. There is no winner in that situation.”

Sammon believes remote working can offer only a partial solution. Businesses still need employees to connect with their teams, while Galway’s ability to attract talent depends on making it easier for people to live and work in the city.

He is encouraged by renewed momentum behind major infrastructure proposals, including the Galway ring road, BusConnects and the expansion of Galway Port. Progress on the ring road would provide greater certainty for developers and could help unlock projects currently held back by uncertainty.

“If we can get the ring road moving to the next stage, alongside the public transport improvements that follow, it could make a real difference.”

Sammon cautions that major projects take time, with completion of the ring road within five years potentially ambitious. Nevertheless, he says decisions must be made to give businesses and developers the certainty they need to plan ahead.

He also believes Galway needs a stronger share of national and European infrastructure investment. While business organisations and the chamber continue to lobby for improvements, he argues that the city’s needs must receive greater political attention.

“We sometimes feel that Galway does not get its fair share of investment. We see other towns and regions receiving priority for roads and infrastructure, while the needs here remain pressing. We need to ensure Galway is front and centre when these decisions are made.”

Despite these constraints, Sammon remains optimistic. He believes targeted investment could unlock substantial additional growth over the next five years, building on Galway’s established strengths in life sciences, technology and enterprise.

“With a few improvements and a relatively small amount of additional investment, I think we could double the scale of what we are doing and significantly increase output over the next four or five years. The ecosystem is already here. We need the infrastructure to allow it to fulfil its potential.”

Forvis Mazars aims to support that growth by offering businesses a broad range of services, including audit, accounting, tax and business advisory. Its 80-strong audit department is backed by specialist expertise across the wider Irish and international firm.

“We have the breadth of an international practice available to us here in Galway. Businesses can access that depth of expertise locally, with specialist support from across the firm in Ireland and internationally when they need it.”

For the full article and rest of the Galway Supplement, please visit the Business Post.