10 July 2011
IDA Ireland (the state agency charged with the task of attracting business to Ireland) highlights why international companies continue to choose Ireland:
Improvement of Competitiveness
Irish competitiveness is improving on a significant basis: business costs, including energy, private rents, office rents, services, construction and labour, have all become less expensive and, thus, more competitive.
Government commitment to 12.5% Corporate Tax Rate
Ireland’s 12.5% tax rate is legitimate, fully consistent with European policy and accepted by the European Commission as not representing harmful tax competition.
“As a Government, we understand that certainty is essential for existing and prospective investors. Let me be absolutely clear on this issue: our 12.5% rate of corporation tax is here to stay. It is central to our industrial policy and is an integral part of our international brand.” Michael Noonan, Finance Minister, May 2011.
Foreign Direct Investment (FDI) recognises a range of strengths
Ireland retains a wide range of competitive strengths, including a young and well-educated workforce, growing levels of R&D activity, a modern internationally trading enterprise base and a long track record as a successful location for overseas investment.
FDI continues to grow: many of the world’s leading companies continue to re-invest in Ireland and a number have decided to invest in Ireland for the first time – up 20% on 2009. It is notable that investment in research, development and innovation was over €500 million.
World Leaders Choose Ireland
- 8 of the top US ICT Companies.
- 9 of the top 10 in Pharmaceuticals.
- 15 of the top 25 in Medical Devices.
- More than 50% of the world’s Leading Financial Services Firms.
- 8 top ‘Born on the Internet’ Companies.
- 3 of the top 5 Games Companies.
Thanks to clusters and networks of multinational companies, Ireland has achieved critical mass in a number of high-tech sectors.
