What is it like to Invest in Ireland?

Yesterday we met with Raymond Bowe who has worked at IDA for about 30 years. IDA is an organization based in Dublin that reaches out to companies around the world and promotes them to either move or expand their company to Dublin. IDA has office locations in multiple countries, which helps them expand their horizon when choosing what companies they want to help move to Ireland. After attending many site visits and sitting in on guest speakers it is clear that many companies have been successful in Dublin. Raymond talked a lot about the process of moving a company to Ireland and discussed some pros and cons on what it would be like to invest in Ireland.

Pros:

  • Fastest growing economy in the European Union for the fifth year in a row
  • Young population
  • Low corporate tax rate (12.5%)
  • English speaking
  • Diverse, talented, and educated workforce

Cons:

  • Brexit could potentially have a significant impact on the company
  • Hard for employees to find places to live, and can also be expensive
  • Nature of work is always changing, which can be hard to stay up to date
  • High personal tax rate

These were the pros and cons that I took away from Raymond’s presentation. After reviewing this list of pros and cons I personally would choose to invest in Ireland. I can see both sides of the spectrum, but feel that the pros outweigh the cons. Business in Ireland is continuing to grow, and Ireland has all the resources that a company will need. Over the past two weeks I have observed a lot of construction taking place in Dublin, which proves that they need to expand businesses and apartment buildings in order to support those coming to Ireland to work. In the end it also comes down to the type of company. For example it would make more sense for a tech company to come to Ireland versus a retail company since Ireland is the tech hub of the EU. Overall, I have learned a lot about doing business in Ireland from sitting in on guest lectures and attending site visits.

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