Moneygall has been selected as the site for a new €7 million rest stop development which is to be named after the U.S. President Barack Obama.

Pat McDonagh, the Managing Director of the Irish fast food chain, Supermacs was in Moneygall on Monday to unveil the plans for a “travel plaza” which he intends to call the Barack Obama Plaza. The new commercial venture was given the go-ahead three weeks ago

The plaza will consist of a one-stop fuel and food outlet which will be located on the motorway junction on the outskirts on the small County Offaly village.

The development which is scheduled to open next year will include a Supermac’s,  Papa John’s Pizza, a food court and a convenience store, as well as gas pumps.

"It will create 50 full-time and 20 part-time jobs," McDonagh told the Irish Independent.

"This was planned way before anybody thought of President Obama visiting.

"It's a happy coincidence. We've already mentioned the proposed name to the US embassy here and they were quite delighted."

Since the announcement of the Presidential trip, the small village on the border of counties Offaly and Tipperary  has begun diligent preparations for Obama’s visit.

So far, the home of Obama’s ancestor Falmouth Kearney has been the only confirmed stopover apart from Dublin.

Earlier this week all buildings along the half-mile long main street were being power-washed in preparation for a fresh paint job, compliments of Dulux.