Working with Local Authorities to contribute to Economic Development
Breda O’Toole for Local Authorities Members’ Association – Autumn Seminar 11th October 2013
2010 – 2014 High Level Targets – New Jobs
62,000 New Jobs
– Investments
– Regional Development
– Research, Development and Innovation
– Growth Markets
640 50% of investments outside of Dublin and Cork Annual 1.7bn Client Investment by 2014 20% of Greenfield investment by 2014
Current Impact of FDI A wide range of Industry 9 of the top 10 global sectors are located in Click icon to add picture
pharmaceutical companies
Ireland.
3 of the top 6
9 of the top 10 Click icon to add picture Click icon to add picture games publishers software companies 15 of the top 20
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medical device
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companies
All of the top 5 internet
145 of the top 201
Click icon to add picture Click icon to add picture search engines financial services companies 9 of the top 15 Click icon to add picture internet companies
Regional Business Development - Spread of Clients
IDA Ireland Business Focus Information Communication Technology
– Global Business Services
Life Sciences & Food
– High Value Manufacturing
Engineering, Industrial &
– Research, Development & Innovation
Clean Industries Content Industry, Consumer & Business Services International Financial Services
Horizon 2020 - Ten Steps of Transformation 1. Drive Company Transformation 2. Win Employment - Intensive Services FDI 3. Win New Forms of FDI 4. Drive Regional Economic Development 5. Attract Investors from New High-Growth Areas 6. Win Business from Emerging Companies 7. Build Brand Ireland Abroad and Online 8. Embrace Open Innovation 9. Strengthen Ireland’s Value Proposition 10. Partner with Team Ireland
Selling Ireland – from the market place to Ireland
Mountain View
Chicago
Ireland New York
Irvine
Boston Atlanta
UK
Mosco w Germany
France
Korea
Mumbai Shenzen
Sao Paolo
Tokyo Shanghai
Singapore Sydney
Selling Ireland – Doing the job + Talent + Track Record + Taxation + Technology
+ Education + European Market + English Speaking
Why Ireland - Track Record 1,033 overseas companies
1,033
Click icon to add picture in Ireland 93% rate their investment
93%
Click icon to add picture in Ireland a success 1st in Eurozone for
1st
Click icon to add picture ease of doing business 1st for inward investment
1st
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Top 10
Top 10 of easiest places in Click icon to add picture the world to do business
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Factors influencing FDI location –IDA and LAs working together to secure investments Size of local markets Growth of market Presence of suppliers and partners Access to international/regional markets Stable and business friendly environment Significant population Availability of skilled labour and talents Competitive labour costs Quality of infrastructure – investment in this has made Ireland smaller Sophisticated professional and business support services Established clusters
Source: UNCTAD World Investment Prospects 2009-2011
What are our future challenges?
– Financial Services
Islamic Finance, Financial Technology and Green Finance Financial Analytics,
– Services Innovation
– Convergence
– Connected Health
– Analytics
– Digital Lifestyle Management – Smart Buildings, Nanotech Surgical Implants – Big Data & Business Intelligence
Ecosystem for Energy Efficient Data Centres – a holistic team approach Data Centre Operators Academic Research Capability - Sensors - Thermal Modelling - Distributed Computing - Al & Machine Learning - Autonomic Computing - Nanotech - Power electronics
Key Value Chain Members 1. IC/Design Manufacturing 2. Servers, Racks & Storage 3. Power & Cooling 4. OSS & Platforms Facilitates & Supports Key Global Users
Financial & Practical Support
IDA Ireland works with the world’s leading companies to develop Research in Next Generation Green Data Centres
I would wager that everyone in this room wants the same thing?
Reasons to Invest in Ireland? Because together we will continue to make it a great place to do Business