Business News

Pramerica expands operations in Letterkenny

By Business & Finance
22 July 2015
Pramerica Jobs
Pictured at the announcement are Richard Bruton TD (Minister for Jobs, Enterprise and Innovation) and Caroline Faulkner (senior managing director and chief information officer, Pramerica Systems Ireland)

Pramerica to expand its operation in Donegal creating 330 new jobs over the next three years, with potential for further growth in the longer term.

The company will build a new, state-of-the-art, eco-friendly office campus near its current location in Letterkenny, county Donegal to accommodate the expansion. Pramerica is a professional shared services and technology subsidiary of US-based Prudential Financial, Inc. (PFI).

“Pramerica is delighted that we have reached this historic milestone just 15 short years since we launched our business in Letterkenny with eight employees,” said Caroline Faulkner, senior managing director and chief information officer at Pramerica Systems Ireland. “With Ireland’s rich pipeline of talent and favourable work environment, now is the ideal time for us to make an investment in a new campus facility.”

The new site is approximately one kilometre from Pramerica’s existing facility in Windy Hall, within the same business park. The first of two construction phases will begin during Q4 of 2015 and will be completed by summer 2017. Occupancy of the 135,000-square-foot facility, which could eventually accommodate up to 1,800 staff members, is tentatively scheduled to open in mid-2016.

“We currently employ more than 1,200 people who are dispersed in four buildings. The new facility will bring them together in a single location,” Faulkner said. “In addition, it will give us the space we need to bring on approximately 330 new staff members over the next three years. The new job opportunities will include senior IT managers, project managers, business analysts, data scientists, actuaries, accountants and a wide range of technology support and professional services roles.

An Taoiseach Enda Kenny commented: “I’m delighted to welcome the creation of 330 new jobs by Pramerica Systems Ireland in Letterkenny. This is a major jobs boost for both Donegal and the north-west region of Ireland. The Government is determined that the jobs recovery is felt in every part of Ireland. To this end, we are currently publishing a series of regional Action Plan for Jobs to boost local job creation. Pramerica is a fantastic employer in Donegal and I’m delighted that Government could support these jobs through IDA Ireland.”

Speaking on site in Pramerica Donegal, Minister for Jobs Richard Bruton TD, who has met senior Pramerica executives on a recent USA trade mission said: “Today’s announcement that Pramerica, a huge employer in Letterkenny and a world-leading company in its field, is creating over 300 extra jobs with the capacity to double that over the coming years, is a massive boost for Donegal and the entire north-west. This shows clearly what is possible through our regional jobs plans.”

Construction of Pramerica’s new business campus and the expansion of its business are being conducted with the support of the IDA, the Donegal County Council and the Irish government. “IDA Ireland has been working with Pramerica since they first came to Donegal in 2000. Over that time, Pramerica has built up a sizeable workforce here in Ireland. This is testament to the quality of management and employees they have found here. Working with companies to locate in regional areas, like Donegal, is a central part of our investment strategy. This new expansion will enable Pramerica to become one of the largest regional employers in Ireland,” said Martin Shanahan, CEO at IDA Ireland.

The new campus will offer parking for more than 1,000 vehicles, landscaped and green areas for staff recreation and many other amenities. The building will incorporate green technologies for electricity generation and rainwater harvesting to reduce its overall impact on the environment. The construction project will be managed by Pramerica and delivered by Extraspace Solutions in a modular fashion to shorten construction time, improve building performance and reduce construction costs.