The State is committing €25m towards the €106m costs of UCC's new Business School to be built in the city centre.
UCC is to open a new school, which will accommodate close to 4,000 students and 200 staff, on the former Brroks Haughton premises, a 1.46-acre site situated between Copley Street and South Terrace and fronting on to Union Quay.
UCC plans to move courses in a range of business disciplines to the new Cork University Business School, with a planned moving in date of 2022 or 2023.
The Minister for Education Joe McHugh today announced almost €100 million is to be invested by the Government in major building projects at five higher education institutions; UCC, Maynooth, Sligo IT, NUI Galway and UCD.
The State believes the new UCC building will contribute to the regeneration and revitalisation of Cork city centre and growth of more than 2,500 in student places across UCC campuses.
Fine Gael Senator Jerry Buttimer said the funding under the Ireland 2040 programme is a significant and a strong commitment to Cork.
"This new business school which is city facing on Copley street further connects UCC to Cork City but also allows for the expansion of the University. This will allow for further growth of the University and enhance the student experience. “
“This project is a wonderful opportunity to regenerate and revitalise a section of the City.”