Shannon Free Zone (SFZ) is a 600 acre area beside Shannon Airport that originally benefitted from a range of tax efficiency initiatives. And it is now home to over 100 multi-national and Irish companies employing over 8,000 highly skilled employees.
The story of SFZ is one of true innovation and its development has played an integral part in driving economic growth for the surrounding businesses and communities for many years since.
A history of forward thinking
In the 1950s, Shannon Airport’s director, Brendan O'Regan, submitted a proposal to the Irish government to establish a distinct manufacturing zone with special tax incentives. He argued that it would create much needed jobs and increase Shannon Airport-bound air traffic.
His innovative request was positively received and in 1959, then Taoiseach Sean Lemass established Shannon Free Airport Company (SFADCo) and construction began in earnest.
It was agreed that businesses locating in the Shannon Free Zone would benefit from two specific incentives. A greater customs freedom was granted where companies locating in the zone would be exempt from paying duty on imports and exported goods, while they would also not have to pay corporation taxation for 25 years.
Still thriving today
The initial site beside the airport was established and then expanded some years later to include neighbouring Smithstown.
Today the standard national tax rules apply. At the time of its development, Shannon’s success depended on transatlantic flights stopping to refuel here. Its evolution has continued and is now seen by many as an important stop for private aircraft travelling between Europe and North America.
Located beside Shannon Airport, 24 km north west of Limerick city, 18 km south of Ennis, 64 km from Galway and two hours from Dublin, the zone boasts over 2 million sq ft of developed buildings for manufacturing, distribution and offices.
Our team at Shannon Group has been dedicated to driving economic benefits to the region for more than 50 years and we look forward to facilitating local commercial and community development for generations to come.
We’d love to hear from you...
If you have any queries around Shannon Free Zone or any other aspects of our group’s record in innovation, email firstname.lastname@example.org