CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.

Ireland Sells Tax Advantage To US Investors

Monday, November 1, 2010

On October 25, Ireland’s Minister for Enterprise, Trade and Innovation, Batt O’Keeffe began a series of top-level meetings with leading US multinational firms in an effort to draw fresh investments to Ireland.

As part of an official visit to the US, O’Keeffe is visiting 13 firms in New York, New Jersey and Massachusetts. The firms span a range of sectors including life sciences, information communications technology and financial services.

Minister O’Keeffe is accompanied by the chief executive of Industrial Development Agency (IDA) Ireland, Barry O’Leary.

Speaking before leaving for the US, O’Keeffe described the trip as “an important opportunity to draw new investments to Ireland and to anchor those we have already won.”

He said: “This week, I will hold 13 meetings with some of the world's largest corporations targeted by IDA Ireland, selling Ireland for further investments and strengthening our relationships with firms that have already chosen to locate here and create many thousands of jobs.”

“I will be stressing to the multinational firms that our 12.5% corporation tax rate remains at the heart of the government's strategy to attract foreign direct investment; that our competitiveness is dramatically improving; that the government is finalizing a four-year plan for the public finances; and that the cost of fixing the banks is large but manageable.”

For his part, O’Leary added:

“Despite the economic circumstances, Ireland continues to win significant foreign direct investment. To date, 67 IDA Ireland client firms have announced new investments this year with 20 of those firms investing in Ireland for the first time.

“Among the investments this year are Dun & Bradstreet (D&B), PayPal, eBay, Warner Chilcott, LinkedIn, United Technologies, Merck, Telefonica, Electronic Arts, Analog Devices, United Health and Google.”

“Ireland’s improving competitiveness, alongside our track record, tax offering, talent and technology base, are helping to position Ireland for future inward investments.”