Nypro Healthcare is to create 200 jobs at a new medical device manufacturing facility in Waterford.
The company has been in Bray, Co Wicklow, since 1980 and employs 400 people there.
In 2001, the company promised 400 jobs in Waterford and delivered 250, but then circumstances changed and the company consolidated in Bray.
The new facility and the new jobs will be at the same location on the IDA industrial estate as their previous operation.
Nypro has operations in ten countries and a turnover of $1.1 billion (€859bn).
The company is investing €60 in the Waterford facility, with the jobs coming on stream over the next two years.
Nypro's new facility will make advanced respiratory and injectable devices for global healthcare and pharmaceutical customers.
The investment is being supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
Taoiseach Enda Kenny said it is a significant boost for the southeast.
Minister for Jobs Richard Bruton said the southeast has suffered disproportionately from unemployment over the years, but he added that recently there has been a tripling of the number of site visits by IDA Ireland.
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