Winning: Foreign Direct Investment 2015-2019 Brendan McDonagh Director Strategic Policy IDA Ireland June 2015 1.

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Presentation transcript:

Winning: Foreign Direct Investment Brendan McDonagh Director Strategic Policy IDA Ireland June

Current Impact of FDI IDA Portfolio Companies: 632 from the US 300,000 Jobs Direct & Indirect €124 billion 1,195 €1.4 billion Business Expenditure on R&D €8.5 billion €124.5 €22.4 billion

Dublin Office Market – Take Up Office Projects Supported by IDA ( ) 40,000 sq.ft 190,000 sq.ft 85,000 sq.ft 120,000 sq.ft 100,000 sq.ft 70,000 sq.ft 20,000 sq.ft 100,000+ sq.ft 7,500 sq.ft 85,000 sq.ft Almost 60% of total office lettings in 2014 was to IDA client companies 3

IDA Ireland Targets Investments 80,000 New Jobs 209,000 FDI Employment by 2019

Top International Ratings for Ireland –1st in the World for availability of skilled labour² –1st in the World for attitudes towards globalisation² –1st in the World for flexibility & adaptability of workforce 2 –1st in the World for investment incentives 2 –1st in the World for productivity & efficiency of companies 2 –1st in the World for inward investment by quality and value³ –1st in the World for contribution towards humanity & the planet 4 –1st in Europe for attaining third level education 5 –1st in Europe for ease of paying business taxes 6 –1st in Europe as most entrepreneurial country 7 –1st in Western Europe for ‘Best to Invest’ 8 Source: International reports including IMD

 primary audience is the ‘recent diaspora' of 3rd level graduates who have emigrated from Ireland since  6

7 Incentive aimed at regeneration of the historic inner cities of Cork, Dublin, Galway, Kilkenny, Limerick and Waterford.  Encouraging people back to the centre of Irish cities to live in historic buildings;  Encouraging the regeneration of the retail heartland of central business districts;  Offers tax relief for qualifying expenditure incurred in refurbishing / converting qualifying building for Residential and Commercial purposes

Providing Jobs for Economic and Social Benefit 8

Winning in the Regions 9 Targets; - A minimum increase in investment of 30% to 40% in each region outside Dublin - Dublin to achieve the same high level of investment in Dublin Supported by; - €150m property investment portfolio - Aligning IDA business sectors with regions’ strengths - Focusing on regional urban centres which can act as key attractors of investment - Strengthening IDA’s regional footprint - Working with regional stakeholders through the Regional Action Plan process

Providing Jobs for Economic and Social Benefit 10