OPINION
The extent to which people understand the Ireland story varies dramatically from country to country. In the US, for the most part, Ireland is well understood, so it’s about reinforcing the messages there. Asia is the other extreme; the last time I was in China, for instance, I did twenty different media interviews. That’s all to build a high level of understanding of what Ireland has to offer.
There is the question: what does Ireland have to offer? First, we have a proven track record. We have over 1,200 companies who have proven that you can set up, grow and be extremely successful in Ireland. That’s one of our most successful marketing tools: the fact that we have both global
We offer both hard and soft supports. In the case of the former, we provide tangible support by way of capital, employment, training, R&D grants, and we are particularly equipped to do so for those companies seeking to invest outside the capital. Aside from this we simply make it extremely easy for companies to set up in Ireland. We act as the interface between the company and the Irish system; introducing them to the Irish policy system and to peer companies who have been through the process, which can be a primary deciding factor. We can assist companies with their launch here, helping them in adding head count, and any other practical supports that they need. The very
brand names – the Googles, Yahoos and Apples – and those companies at the earlier levels of expansion: SquareSpace,
Indeed.com, and so on. Secondly, it’s about the ease of doing business here. Ireland has always had a very pro-enterprise industrial policy, and ours is one of the most open economies in the world, which makes us very competitive. We have available talent here, thanks both to a very strong education system and also to the fact that we have been very welcoming to people coming from other countries, particularly from within the EU where there is full mobility and a workforce of over 200 million people who can come to work here without any impediment. That has created a cosmopolitan, highly educated and multi-lingual talent pool. Allied to that is the fact that we speak English – the global language for technology, engineering, finance and of course business. And thirdly we have a very attractive taxation regime: clear, consistent and competitive.
Still on matters competitive, what in your view, gives IDA the edge?
fact that IDA knocks on your door and says, ‘Ireland is open for business, you’re very welcome to come here, and we will help you,’ can be a deciding factor, because other countries don’t necessarily do that. I often say that this is a ‘contact sport’: you have to be in contact with clients and prospective clients: they have to know they can pick up the phone to you and any question can and will be answered.
What marks out Ireland, and Irish workers, from a cultural perspective? The Irish workforce is seen to be well- educated, extremely hard-working, solution-oriented and very flexible. And those things aren’t a given in a lot of countries. More broadly, Ireland is seen as a can-do place. Our convivial attitude, hospitality and positive outlook tends to be what people pick up on, and that perception has been reinforced through the recent economic recession. Ireland has been to the forefront of resolving our issues, getting on with it, and making decisions early. As a result we’ve come through this earlier and better than most: for the last two years we are the
18 INNOVATION IRELAN REVIEW fastest growing economy in EU.
Speaking of the EU, what are your thoughts on a potential Brexit? Firstly, the potential impact of a Brexit on Ireland would be very negative. The UK is our nearest neighbour, our largest trading partner, and often our closest ally on enterprise-related policies within the EU. The ESRI have estimated that up to 20 per cent of trade would be impacted if there was to be a Brexit. They also estimated that there may be a small positive impact on FDI, however. For potential investors, those looking to service a European market from the UK particularly, the potential for Brexit would give pause, while many of those currently in the UK are scenario- planning…looking at other European countries they might use as a base. Clearly Ireland is firmly in the frame in that regard.
Ireland has so much to offer, but do we have space to welcome all those interested parties? Yes is the answer. We always have space! The IDA works extremely closely with client companies in ensuring that they find an appropriate property solution. It is true to say there is a tightness in the Dublin commercial property market, and indeed in some of the larger urban regional areas. But – with some ingenuity! – we have been able to find the appropriate office space for all of our clients.
A growing trend is an appetite for investment outside the capital. Can you tell us more?
We have seen a lot of success in recent years in regional investments: Apple going into Athenry with a data centre, Facebook going into Clonee with a data centre, and companies like ABEC going into Fermoy in Cork. Last year the number of investments outside Dublin rose to 53 per cent, which we are very happy about. It falls in line with our strategy for 2015-2019, which centres on growing the number of investments in regional locations by 30-40 per cent. To this end we are investing in property solutions in regional locations, where we believe the private sector
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