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Tom Costello

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Tom Costello, Chartered Engineer, FIEI, managing director, John Sisk & Son Ltd. discusses how the recent boom has upskilled Irish engineers to a position whereby they stand to capitalize on foreign ...

Tom Costello, Chartered Engineer, FIEI, managing director, John Sisk & Son Ltd. discusses how the recent boom has upskilled Irish engineers to a position whereby they stand to capitalize on foreign developments and international projects, during the Engineers Ireland Annual Conference 2010.

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Tom Costello Tom Costello Presentation Transcript

  • ‘There can be little doubt that, in many ways, the story of bridge building is the story of y g g y civilization. By it we can readily measure an important part of a people’s progress’ Franklin D Roosevelt. Roosevelt CORK 2010
  • Progress – Legacy of Construction Boom •Much Improved Infrastructure Aviva Stadium Samuel Beckett Bridge & Port T P t Tunnel l N8 Cashel to Mitchelstown The Convention Centre, Dublin CORK 2010
  • Progress – Legacy of Construction Boom New Criminal Courts Centocor (FDA New IT Building, WIT of Justice, Dublin approved 21st April) O2 Arena M50 Interchange Limerick Tunnel CORK 2010
  • Progress – Legacy of Construction Boom Boyne Bridge Beacon Hospital Cork School of Music Grand Canal Theatre Ritz‐Carlton, Ritz Carlton Powerscourt Aghada Alstom CCGT CORK 2010
  • Progress – Legacy of Construction Boom • World Class Construction Industry – Project Management – Pharma / Micro‐Electronics – Road Building – PPP, etc. • Skilled Experienced Engineers – What’s next for Ireland’s Engineers? CORK 2010
  • What’s next for Ireland’s Engineers – Pack your bags – Internationalize Irish Construction – Support Construction in Ireland – Think Long Term CORK 2010
  • Irish Engineers – Pack Your Bags • Construction Industry 2011 – 20% of 2007 volume • International Reputation. Capable, Resilient • Tradition of Emigration – Then – unskilled / tradesmen – Now – High calibre experienced engineers • As Economies Recover – World of Opportunities • Experience / Innovation – Bring back to Ireland in the Future • Prepare for the Future – Languages / Management Skills CORK 2010
  • Now is the time to Internationalize Irish Construction • International Recognition – Our time has come • Use experience /expertise acquired during Irish boom • Other Countries success – UK, Denmark, Spain, etc. • International Partnerships • Specialist Skills – Project Management, Pharma, Energy, Oil/Gas, Health/Education, Health/Ed cation Road B ilding etc Building, • Re‐Construction – Haiti? • Leading the way – ESBI, CRH, PM, Mercury, Kentz, Sisk, etc • Important to have strong home base ( p g (volume / g /significance) to support ) pp internationalization. CORK 2010
  • Support Construction Industry in Ireland • Construction Industry in long‐term (2013 and beyond) 10‐12% GDP – Oversupply of Resi ‐ 7‐8% short‐term (2010‐’12) • Vital to maintain skills and capability to support recovery • Government must generate jobs – invest in infrastructure (Industry should support 150,000 jobs, not 80,000) • Exceptional value for money ‐ €1bn invested now buys what €1.5bn bought in i 2007 and i d d what it could cost i 2014 d indeed h t ld t in • High calibre construction industry vital to attract FDI • Strong home base vital to support internationalization CORK 2010
  • How does Construction fit into Economy? EU Average 10%‐12% GDP Mature Well Developed Economies 6%‐7% GDP 2007 = €38bn 25% GDP Residential – 60% ‐ €23bn Remainder ‐ 40% ‐ €15bn Right Si I d t Ri ht Size Industry 2007 Residential ‐ €7.5bn €22.5 bn Remainder ‐ €15bn 14% GDP % Industry excluding Resi at €15bn was OK CORK 2010
  • How does Construction fit into Economy? Right Size Industry 2011? 7% GDP €10bn 8% GDP €12bn Outlook 2011? Public Capital Programme €5.5bn – Construction €3.5bn Non voted Capital Expenditure (Semi‐State) €1.5bn Private/Resi €1bn €6bn (4% GDP) Government cannot borrow more but MUST ACT → Maximize amount of PCP to Construction → Prioritize Projects – revise NDP → PPP Programme of €3bn for 2011/2012 (Off Government balance sheet) CORK 2010
  • ‘ We shape our buildings thereafter they shape us’ Winston Churchill. • Good Quality Infrastructure – Quality of Life. Confidence. – Competitiveness – Attractiveness for Investment / Tourism – Advanced Competitive Economy • Room for Improvement / Investment / Stimulus – OECD Report – Ireland 25th of 28 – Engineers Ireland – Infrastructure for an Island Population of 8 million ‘Annual Investment Equivalent of 5% GDP for next 20 years’ • Education – Health – Roads – Public Transport – Water/Wastewater – Social Housing – Renewable / Green Energy – Sustainability ‐ Broadband CORK 2010
  • ‘The road to success is always under construction’ • Recessions end • Most economies accelerate investment in infrastructure to create jobs and stimulate economic growth • Top class infrastructure is critical to Ireland’s future prosperity • Construction in EU is average 10% GDP, not 25%, NOT 4% Time For Leadership / Creativity CORK 2010