Cost of living and a good work-life balance are playing a key role in investment decisions in Sligo.
US e-commerce player Overstock is to expand its European base in Sligo with 100 new R&D roles, more than tripling the office’s current headcount.
Overstock, which was founded in 1999 and is headquartered in Utah, operates a $2bn online retail shopping website as well as a wholly owned blockchain accelerator subsidiary, Medici Ventures.
The company has pioneered the development of disruptive technologies across several disciplines including e-commerce, machine learning, augmented reality and blockchain.
Going wild for the west
Overstock came to Sligo in 2013 to create 45 jobs, and the operation currently employs 40 technologists.
“Overstock has been at the forefront of developing technology to make our customers’ lives easier, and our Sligo tech teams have been crucial to that effort over the past five years,” said CEO and founder Dr Patrick Byrne. “I’m excited to soon welcome so many more talented technologists from Ireland to the Overstock family.”
The location on the scenic Wild Atlantic Way was selected for the burgeoning tech community, with easy access to outdoor activities, affordable cost of living and favourable commuting times, especially when compared to other centres such as Dublin.
“It has been a tremendous year for Sligo in terms of enterprise development and this announcement reiterates the Government’s commitment under the Regional Action Plans for Jobs to ensure we have the right conditions in place to encourage the creation of quality jobs in the regions,” said Minister for Business, Enterprise and Innovation Heather Humphreys, TD.
Overstock offers its employees opportunities for both career progression and continuous learning. The company was recently recognised as one of the best companies in the areas of work-life balance, perks and benefits, with Byrne named one of the best CEOs for diversity.
“IDA is committed to winning investments for regional locations across Ireland and the north-west border region is a key area of focus for us,” said IDA Ireland CEO Martin Shanahan. “It is great to see such an ambitious high-growth company like Overstock expanding their operations in Sligo. This significant expansion clearly illustrates the confidence Overstock has in the region’s talented workforce to drive the company’s international growth.
An overview of the company will take place tomorrow (12 October) at a Tech on the Wild Atlantic Way event at The Model in Sligo.
