How Cork’s Powerhouse Partnerships Are Quietly Fueling the Next Big Innovation Boom—And What You Need to Know Now
Ever wonder how businesses in the Cork region manage to keep their sails up and catch the winds of change, even when global storms are raging? It’s not by chance. PwC’s Nicola Quinn paints a vivid picture of a vibrant Cork business scene that’s not just surviving but thriving—doubling office space, ramping up cyber defenses, and diving headfirst into AI and digital innovation. The challenge? A tight skills market and a rapidly shifting tech landscape. But here’s the kicker—the region’s collective spirit, from chambers of commerce to universities, fuels a culture of collaboration and resilience. If you think that’s impressive, wait until you hear about the bold moves to nurture indigenous multinationals, supercharge R&D, and tackle infrastructure and housing head-on. Curious how all these pieces fit together to keep Cork’s economy humming despite geopolitical tremors and rising costs? Let’s unpack the story behind the numbers and the people who make it all happen. LEARN MORE
Businesses in the Cork region continue to trade well and adapt, despite the global headwinds, PwC’s Nicola Quinn tells Sorcha Corcoran
Over the past year PwC in Cork has seen strong demand across the board for its core audit, tax and advisory services, while its Cyber Managed Services Centre continues to expand as companies deal with increasing threat levels.
Currently employing over 300 people, PwC in Cork doubled its footprint in 2024 by adding almost 9,000 sq ft to its office space at One Albert Quay, including the Cyber Managed Services Centre.
“Private business continues to be a growth area for us in the region as Irish companies expand into new markets, raise funding and deal with succession challenges,” Nicola Quinn, partner, PwC in Cork, says.
“As companies embed artificial intelligence [AI] and adopt other new technologies, we’re seeing increased demand from our clients for support in both implementation and transforming their finance function to work with the technology.
“AI and business transformation can help to free up resources within businesses to focus on higher-value activities. There is a skills shortage in Cork and better deployment of those scarce resources will result in a better overall outcome for businesses.”
PwC in Cork has made significant investments in AI over the past few years to drive innovation and bring enhanced client value, Quinn adds.
“This investment focuses on embedding AI across our services, partnering with major technology providers, helping to transform business models and upskilling our people to use AI tools effectively.
“We continue to hire high-quality graduates from a diverse range of courses, particularly from University College Cork [UCC] and Munster Technological University [MTU] and those with strong digital skills.”
Looking at the SME landscape in Cork, Quinn believes there is opportunity in the market for businesses that are innovative and also for those that can attract and retain key talent. In light of the aforementioned skills shortage, companies that train, upskill and retain key staff will have an edge.
“Government does need to protect and support SMEs to upskill their people and meet the increased cost of employment,” Quinn adds.
In its recent Overcoming Barriers to Scaling Irish Enterprises report, PwC highlighted that co-ordinated national action is needed to help indigenous companies to scale into globally-competitive multinationals.
“To ensure long-term resilience, Ireland needs a new strategic approach to both nurture and retain Irish-owned multinationals, while also developing a strong indigenous sector that has ownership and decision-making rooted in Ireland,” Quinn explains.
“We distil the challenges into the ‘three Cs’ — capital, capability and culture. PwC has put forward a comprehensive 10-point, multi-year plan that champions indigenous business, spanning tax reform, capital mobilisation, talent development and policy simplification.”
Within its client base in Cork, PwC reports that “significant investment” is being made in research and development (R&D). The availability of the requisite talent in the local marketplace — both graduates and experienced people — means Cork is an attractive location for R&D, Quinn says.
“We’re seeing long-standing companies investing in innovating as well as new companies establish in Cork as they see a cluster of companies in their sector already here.
“In addition, some exciting start-up companies are coming out of our universities. The availability of grants and the R&D Tax Credit are important tools to continue to retain and attract these valuable jobs.”
Overall, Quinn says businesses in the Cork region continue to trade well and adapt, despite the global headwinds. The pro-business culture and the fact that businesses and other stakeholders work well together have a lot to do with this.
“The operating environment is more challenging than it was 12 months ago. Geopolitical uncertainty, increased energy costs and the pace of technological change are impacting competitiveness. Managing costs and transforming how business operates, including the use of AI, are high on business leaders’ agendas,” she explains.
“Whether it is representative bodies such as Cork Chamber and the Cork Business Association or the third-level colleges UCC and MTU, there is a desire to come together to innovate and support growth of the economy of the entire region. This culture encourages businesses in the region to work together and support each other to be more resilient.”
At the time of writing, PwC had not seen a significant impact on businesses in Cork from the conflict in the Middle East, which has reinforced the need for Ireland to continue to invest in renewable energy and Cork’s role in advancing this.
“Offshore wind represents a significant opportunity for Cork and the wider southern region but, as yet, we have not seen much extra impetus on this [following the crisis caused by the closure of the Strait of Hormuz],” Quinn says.
“Government needs to workwith industry to unlock some ofthe proposed projects for the region. The ability of the region — andindeed the wider island of Ireland— to grow economically wouldbe greatly enhanced by the availability of increased energy generatedfrom renewables.”
Turning to infrastructure, Quinn acknowledges the significant budget being allocated to the upgrading of the rail network in Cork and the new Cork Luas, as well as BusConnects initiatives and the new M28. “These projects should continue to be prioritised, along with the M20 motorway to Limerick. Good transport infrastructure is imperative for the economic progress of the region,” she says.
“In terms of housing, there are many cranes on the skyline now, and it’s welcome to see the apartment developments around the city. But there’s still a significant gap in terms of meeting housing needs. This is impacting the availability of skilled employees for businesses in the region as you can’t attract talent in if there’s nowhere for them to live.
“Upfront development costsremain a major constraint onhousing supply. In our pre-budget submission for 2026, we recommended reintroducing a development levy waiver for homes commenced within a defined period. This could help ease these costs and encourage stalled projects to proceed. Such a measure would support faster delivery without compromising planning or quality standards.”
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