Ireland is a central hub for the following sectors; ICT, Pharma, Medical Devices, Financial Services, Gaming and Agri-foods. Ireland is home to the top 5 global software companies, top 10 pharmaceutical companies and 20 of the top 25 financial services companies.
Across all sectors, there is a significant focus on investment in innovation. Five of the top 10 companies on Forbes’ list of The World’s Most Innovative Companies have Irish operations, which underlines Ireland’s success in attracting cutting-edge FDI investment across a range of sectors. This reflects the continued investment by some of the world’s top multinationals in expanding operations over a long period of establishment in Ireland, progressing up the value chain from initial manufacturing and support functions to cutting edge innovation of developing, holding and exploiting IP.
What are the key countries responsible for FDI business in Ireland?
The top three countries responsible for FDI investment into Ireland are the US, UK and Germany.
The US is Ireland’s primary source of FDI business. From data published by The American Chamber of Commerce Ireland (‘AmCham’), collectively US investment in Ireland amounts to $387bn. US investment in 2018 accounted for 67% of all foreign direct investment in Ireland, with 700 US companies in Ireland employing 155,000 people. AmCham also reports that US firms indirectly support a further 100,000 jobs in the Irish economy, in total accounting for 20% of employment in Ireland.
Are there publicly funded incentives available for FDI businesses in Ireland?
IDA Ireland is an Irish government agency tasked with encouraging investment into Ireland by foreign-owned companies. IDA Ireland has offices across the globe and provide various forms of assistance to companies establishing in Ireland. For more information, visit www.ida.ie
Funding and grants (capital, employment and R&D grants) are available FDI businesses. All funding is negotiated on a case-by-case basis in compliance with EU and Irish legislation.
IDA Ireland also operates a property services division which works to connect companies with the right property in the right place. IDA’s portfolio offers a wide range of options from greenfield sites to ready-to-go office solutions.