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Australian Business investing in Ireland


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A presentation shared by IDA following their seminars in Australia attended by some Irish Australian Chamber of Commerce members.

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Australian Business investing in Ireland

  1. 1. Mission Statement Ireland – Global Technology and Business Gateway for Australian companies IDA will maximise the impact of FDI in the transformation of Ireland into a global hub for innovation and commercialisation, bringing new employment opportunities and economic benefits for all its people by sustaining and winning high quality investment. In collaboration with other stakeholders, IDA will ensure Ireland remains a uniquely attractive environment in which multinational companies can grow.
  2. 2. IDA Ireland – Irish Government Agency responsible for attracting Overseas Investment to Ireland Russia Ireland UK Chicago Germany Boston France KoreaMountain View New York China JapanOrange County India Atlanta Taiwan Brazil Australia
  3. 3. Company X The Ireland you have seen in pictures
  4. 4. Ireland Investment Focus Global Business Services Information Life Sciences & Communication Food Technology High Value Manufacturing Engineering & International Diversified Financial Industries Services Research, Development & Innovation Clean Tech Content Industry, Consumer & Business Services
  5. 5. World Leaders Choose Ireland• 8 of the top 10 US ICT companies• 8 of the top 10 Global Pharmaceuticals• 15 of the top 20 Global Medical Devices• More than 50% of the world’s leading Financial Services firms.Thanks to clusters and networks of multinational companies, Ireland has achieved critical mass in a number of high-tech sectors.
  6. 6. Why Ireland TalentTrack Record Technology Tax 2012
  7. 7. Sector FocusICT/Technology Track Record Talent Tax Regime Technology Regulation
  8. 8. Ireland: A Home to Global ICT Players Dublin Galway Limerick Waterford Cork CorkKeyCityInternational AirportMajor TownUniversityInstitute of Technology
  9. 9. Case Study ExamplesBackground: Established its EMEA headquarters in Dublin in 2003Mandate/ Activity/function: European Data Centre Multilingual editing and customer support activities Financial and administrative shared services to support Google’s EMEA operationsLanguages/Other: 2000+ employees representing 40+ nationalities with capability in over 52 languages 66% of employees are bi Lingual 70%+ of the 1,208 employees are non Irish Nationals 100% of staff are 3rd level graduates 74% have post-graduate qualifications 18% have a 2nd Masters Degree / 2 Degrees 12% have 3 languages other than English
  10. 10. Company X Case Study ExamplesBackground: 2008: Announced that it would establish International headquarters in DublinActivities: Provide online technical, sales and operations support to users and customers in EMEA Strong multilingual focus “After exploring various locations throughout the region, we decided Ireland was the best place to establish our new headquarters. The talent pool in Dublin is world-class and recruiting local talent will help us better understand the needs of local users and the regional dynamics that, in turn, can give us better insight into what features matter most.” Sheryl Sandberg, Facebook COO
  11. 11. In March 2010, LinkedIn announced the establishment of its InternationalHeadquarters in Dublin.It is currently recruiting staff for International positions in Marketing, Sales,Finance and Customer Service.The Linkedin web site was launched in 2003 and is the largest professionalnetworking site in the world with more than 175 million members representingevery country worldwide and executives from every Fortune 500 company.
  12. 12. Multi-lingual availability • Over 200 companies in Ireland offering multi-lingual customer support activities. • Large pool of Shared Services companies located in Ireland offering multi-lingual support to internal and external client bases • Technology companies, outsourcers & localisation providers have centralised their EMEA operations in Ireland. • Main activities include 1st & 2nd level support, localisation and development. Non-Irish Population in Ireland Ireland Differentiators • Availability of native speakers not language students with fluency • Availability of multiple languages • Salary, cost of living & job availability attracting multi-lingual candidates Source: Multi-lingual Salary Survey 2010 Ireland, Beeswax Europe 12
  13. 13. Sector Focus -InternationalFinancialServices Track Record Talent Tax Regime Technology Regulation
  14. 14. Global Players Banking Investment Management Insurance
  15. 15. Sector Overview… 1000 + International Financial Services entities 8 of the Top 10 Global Fund Administratorshave operations in Ireland 43% of the Worlds Hedge Funds are serviced fromIreland Number 1 location in Europe for Cross BorderLife Insurance 9 of the Top 20 Global FinTech companies havea presence in Ireland 50+ leading Global Banks
  16. 16. Sector FocusLife Sciences Track Record Talent Tax Regime Technology Regulation
  17. 17. Life Sciences in Ireland - Key Statistics • No. 1 location in Europe for Life Sciences Projects • 44,000 Employees • Exports €44bn+ • Multiple Sites • Global Supply Plants • Excellent regulatory record
  18. 18. Manufacture of Leading Drugs Five of the top ten global drugs are manufactured in Ireland Global Ranking 2010 Product Manufacturer 1. Lipitor Pfizer 2. Plavix B-MS 6. Enbrel Wyeth (Pfizer) 7. Remicade J&J 9. Zyprexa Eli Lilly Source : Pharma Exec May 2011
  19. 19. Ireland – KeyAdvantages Track Record Talent Tax Regime Technology Regulation
  20. 20. Competitiveness: Labour Market Irish unit wage costs will continue to fall through to 2013 Benchmark salaries for new employees in Irish companies down between 5 % and 22% ( 8% Change in Unit wage costs 2008 through 2011 6% 4% 2% 0% -2% -4% -6% -8%-10%-12% Source: EU AMECO tables 2011 “Irish labour costs becoming significantly more competitive”
  21. 21. Competitiveness: Cost of LivingConsumer Prices fell 1.7% in 2009 and 1.6% in 2010.Dublin ranks 42nd most expensive city in the world, down from 16th in 2008(Mercer Cost of Living Report - 2010). 14% 12% 10% Change in cost of living 2008 through 2012 8% 6% 4% 2% 0% -2% -4%Source: EU Commission forecast. 2010 “Ireland’s attractiveness has improved as a destination for young, mobile workers.”
  22. 22. DTZ Global Office Occupancy costs 2010Ireland fell from 35th to 45th position over the past year. (Lower ranking is better.) Region City Rank Rank Total Occupancy 2010 2009 cost per workstation ($) (2010) UK London (West 2 1 20,160 End) Switzerland Geneva 3 4 18,840 France Paris 6 5 15,740 Singapore Singapore 26 44 10,430 Netherlands Amsterdam 27 20 10,300 Ireland Dublin 45 35 8,190“A ban on upward-only rent reviews for all new rental contracts came into effect in February 2010; this should make the commercial rental market more flexible in the future.”
  23. 23. Company X Central Location: Accessibility  Services to over 130 European Airports  Over 17 direct flights a day from Ireland to the US Source: Dublin Airport Authority 2008
  24. 24. Company X Central Location: Telecoms Connectivity
  25. 25. Tax & Fiscal IncentivesIreland’s Tax Regime• Transparent Low Corporate Tax Rate - 12.5%• 25 % R&D Tax Credit & Attractive treatment of IPIreland’s Financial Grant Aid SupportsGrants negotiated on a case a case basis in compliance with EU &Irish Law and Available across the country:Research, Development & Innovation Grants• IDA Feasibility grants available to support scoping R&D projects• IDA Grant funding for R&D project towards salaries, facilities, materials, travel, consultancy, technology acquisition & overheads• Grant Incentive premium for collaborative R&D investments• Opportunity to also access EU R&D funding mechanisms – e.g. FP7
  26. 26. RD&I in Ireland – A Connected Ecosystem Coordinated Government Strategy IRISH RESEARCH & DEVELOPMENT R&D Ireland Budget 2006-2013 €6bn + over 7 years Universities & Science Foundation Institutes of Technology Ireland Infrastructure Researchers Financial Supports Academia Industry
  27. 27. World Competitiveness Rankings – Ireland’s performanceIBM PLI Global Location Trends Report 2011; 2nd ranked destination by jobs per 100,000 inhabitants 1st ranked destination by value* of Investment projects * a combination of Productivity, value-added, knowledge intensity and occupational profile compositionIMD World Competiveness Yearbook 2011 1st in the world for corporate taxes 1st for business legislation for foreign investors 1st for the availability of skilled labour 2nd in the world for consumer price inflation 3rd for direct investment flows inward 3rd for availability of finance skills 4th in the world for labour productivity 4th for exports of commercial services.
  28. 28. Talk to IDA Ireland Log on to +353 1 603 4000