deirdre moran emerging technologies & high growth companies ida ireland october 2011
DESCRIPTION
Leveraging Ireland for European Expansion. Deirdre Moran Emerging Technologies & High Growth Companies IDA Ireland October 2011. Sample US Investments over the past 12 months. Typical Trigger Points for European Expansion. Accessing European customer base of over 500 million - PowerPoint PPT PresentationTRANSCRIPT
Deirdre MoranEmerging Technologies & High Growth CompaniesIDA Ireland
October 2011
Leveraging Ireland for European Expansion
Typical Trigger Points for European Expansion
• Accessing European customer base of over 500 million• Customer Service Issues• International Revenues reach a certain point• Supporting multi-national clients• Data Protection• Latency Issues – Near-shore presence required• EU Accreditation – CE Mark• Access to EU research funding and/or development programs• Impending significant liquidity event
What to Consider...
Source: DLA Piper, Sept 2011
World Leaders Choose Ireland...
Why World Leaders choose Ireland..
TAX
R&D Tax Credits
12.5% Rate
IP and Holding
Company Regime
Ease of Interaction
with Revenue
Language – English
Speaking & Multilingual
Access to EEA for
Hiring > 500 million people
TALENT
Highly Competent
Management & Technical
VISA & Work Permit
Process streamlined by
IDATRACK
RECORD
Infrastructure, Access, EU
& Euro Member
Pro Business Environment – Ease of Doing
Business
Cultural Affinity with
the US / Time zone
Education, IP Protection
Legal (Common Law)
Being based in Dublin gives us access to a highly skilled workforce and enables us to coordinate our business growth across Europe and beyond to deliver the best possible service to our members.”
Kevin Eyres, MD Europe LinkedIn
“ Ireland is a great place to run our business. We have access to creative, young people who see Dublin as a desirable place to work. People are coming to Ireland from other parts of Europe. We are growing significantly in Dublin. We are very committed here and we’re going to continue.”
Eric Schmidt, Chairman, Google
gh
WORLD LEADERS CHOOSE IRELAND
- Top 5 ‘Born on the Internet’ companies- 8 of the top 10 in ICT - 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- Ireland fast becoming the Internet Capital of Europe
Foreign Direct Investment in Ireland
FDI IS IMPORTANT TO IRELAND
- €110 BN Exports- 65% of Corporation Tax- €30 BN Expenditure Annually- 73% of Business RD&I expenditure
Irish Economy - Update
What happened?What happened?
• Property Bubble
• Irish banks left exposed
• Decision to socialise bank debt - Rise in Irish Public Debt
• Agreed a funding plan with EU/IMF/ECB
– Restore financial stability
– Implemented range of government cost reduction programmes
• 1st country in the world to implement such a programme
• 2/3 way through these measures
• Ireland is back on track
– Fiscal programmes meeting targets
– Banks recapitalised
– Competitiveness improving rapidly
– Economic growth re-emerging
“Last year Ireland (2010) was one of the few European countries to show an increase in FDI projects”
American Chamber of Commerce, Sept. 2011
•Prime Dublin office rents - 52% decline from peak levels•Deals are being done below these headline levels•Dublin has fallen from 6th in 2007 to 45th in 2010 terms of office occupancy costs (DTZ- Global Office Occupancy Costs )
Cost Competitiveness – Commercial Property
300
350
400
450
500
550
600
650
700
Q1
20
00
Q3
20
00
Q1
20
01
Q3
20
01
Q1
20
02
Q3
20
02
Q1
20
03
Q3
20
03
Q1
20
04
Q3
20
04
Q1
20
05
Q3
20
05
Q1
20
06
Q3
20
06
Q1
20
07
Q3
20
07
Q1
20
08
Q3
20
08
Q1
20
09
Q3
20
09
Q1
20
10
Q3
20
10
Graph: Source: CB Richard Ellis Research
Prime Dublin Office Rents 2000 - 2010
-10.0 -5.0 0.0 5.0 10.0
IrelandSpain
FranceGermanyEuro area
EU-27Poland
United KingdomItaly
PortugalGreece
Unit labour costforecast % change 2008-2011
Source: European Commission forecasts, May 2010
Cost Competitiveness – Falling Salary Costs
Cost Competitiveness - Cost of Living
Source: EUROSTAT 2011
Ireland’s attractiveness has improved as a destination for young, mobile workers.
Consumer prices inflation ( year on year % change)
World Competitiveness Rankings
• 1st for FDI globally per 100,000 population – IBM Global Location Trends Report
• 1st in the world for most-highly employable graduates - EC Study of international recruiters, 2010
• 1st in Eurozone Best Countries for Business - Forbes 2010
Irelands Position in the World Rankings
1st for real corporate taxes 1st for business legislation for foreign investors 1st for investment incentives for foreign investors 1st for availability of skilled labour 2nd for immigration laws 3rd for availability of finance skills 4th for labour productivity
Source: IMD World Competitiveness Yearbook 2011
12
The IDA and How we can help
Business case development
Incentives
Service provider advice & Introductions
Networking into local business
community
PR & announcements
to help recruitment
Site/property short-listing
Introductions to schools and
school principals
Apartment selection for
assignees
Endorsement of Visa
Applications
Access to our own network for
hiring
Use of IDA offices for interviews
Introductions to similar
companies during due diligence
Sourcing resumes to
determine skills availability
Introductions to local market opportunities
Introductions to careers offices
in the major universities
Advice on where the best places to live
are
Advice on labor laws and
legislation
High level tax advice
Access to export support
services
You name it!
Introductions to academic research expertise
Access to planning
authorities
Telcos
Realtors
Banks
Recruiters
Lawyers
Spot the Difference
Killarney, Ireland
Fish Lake, Utah
