Foreign Direct Investment
Foreign Direct Investment in Ireland: A Gateway to Opportunity
Ireland has always been an attractive destination for foreign firms, and the reasons are plentiful. From tax incentive schemes to a highly educated workforce and our strategic location at the gateway to Europe, Ireland offers a range of advantages for foreign direct investment (FDI). With a transparent and straightforward 12.5% corporate tax rate on trading income, combined with an extensive network of high-quality tax treaties, Ireland provides a favorable business environment.
One of Ireland's key assets is its skilled and educated workforce. The availability of skilled labor and the flexibility and adaptability of our workforce make Ireland an ideal location for companies. With a young and well-educated labor force, Ireland consistently scores high on labor productivity. Moreover, being an English-speaking country enhances our appeal to international companies. Located at the edge of Europe, Ireland serves as a strategic hub for accessing European markets.
The impact of FDI on Ireland's economy cannot be overstated, especially considering its role in mitigating the effects of the domestic economic downturn in 2008. Galway alone is home to numerous multinational companies, which, despite some workforce reductions in recent years, continue to employ a significant percentage of local residents.
The presence of foreign companies in Ireland also generates positive ripple effects. These include linkages to indigenous firms, the emergence of new start-ups, and other spin-off opportunities. FDI, both directly and indirectly, opens doors for entrepreneurs through manufacturing contracts, service provision, and various collaborations, leading to the creation of new ventures and start-ups.
It is fair to say that Ireland's economic landscape would be far less favorable without the support of FDI. The Department of Jobs, Enterprise and Innovation recognizes the significant contribution of FDI to the country's economic conditions. In the past three years alone, over 18,000 new FDI jobs have been created, showcasing Ireland's proven track record in attracting investment. The Department expects these jobs to generate further spin-off effects, bolstering the Irish economy.
With a clear focus on becoming the preferred location for innovative activities and enterprises, the Department aims to position Ireland as a hub of talent and opportunity. Our workforce is the cornerstone of our success, and Ireland must foster an environment that encourages talent to thrive, nurtures personal and professional development, and attracts skilled individuals from around the world. By being competitive and attractive for work and living, Ireland can continue to thrive as a leading destination for foreign direct investment.
Choose Ireland as your gateway to opportunity, where innovation, talent, and growth converge.
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