Yesterday we attended a meeting with Mr. Bowe a representative of IDA Ireland a semi-state organization responsible for attracting and assisting Direct Foreign Investment. These are my key takeaways
- Corporate tax rate of 12.5%
- The impact of Brexit is yet to be determinable but could potentially have sort term adverse effects on the Irish economy. Though it may be more beneficial to get ahead of a Brexit no deal because a mass exodus of business from the UK to Ireland could drive up already sky rocketing property costs
- Housing for employees in Dublin could be problematic
- There are opportunities to build outside of Dublin and the IDA would prefer to send new businesses to the outlying areas.
- Water and power infrastructure are exceptional but high-speed broadband internet as well as the road systems need updating.
- Ireland has one of the youngest and most highly educated workforces in the EU if not the world.
- Attracting foreign talent is difficult.
- IDA is not a “love’em and leave’em” organization, they prefer to develop long lasting partnerships with the companies they bring in and are invested in their success.
- Corporate tax rate of 12.5%