The latest news, announcements, articles and blog posts from IDA Ireland. Keep informed about Foreign Direct Investment in Ireland.
Supporting leadership teams in Irish based FDI subsidiaries to enhance their influence, impact and value to their global organisation
16 IDA supported client companies participating in the programme in 2019 with extremely positive results
Virtual launch on 16th September 2020
Limerick, Ireland (August 27, 2020) -- Regeneron Pharmaceuticals, Inc., (NASDAQ: REGN) a leading, science-driven biopharmaceutical company, today announced that it will add more than 400 new jobs, bringing total headcount to over 1,400 at its Industrial Operations and Product Supply (IOPS) campus in the Limerick area.
Bath Fitter, North America’s leading bathroom refurbishment experts, is delighted to announce the establishment of its European Business Development Centre in East Point Business Park, Limerick. This facility is Bath Fitter’s first to be located outside of North America. This announcement is supported by the Irish Government through IDA Ireland.
IDA Ireland welcomes today’s announcement that MSD has acquired the Takeda biologics facility in Dunboyne, Co. Meath.
IDA Ireland welcomes the announcement by MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical-stage gene therapy company, of a multi-million euro expansion in its Shannon facility.
Smart Metering Systems ("SMS Plc") which installs and manages smart meters and carbon reduction ("CaRe") assets, has announced its expansion to Cork after the recent acquisition of energy tech start-up Solo Energy.
Greenfield Global Inc. a global leader in the production of ethanol, high purity speciality alcohols, and solvents, will soon commence the commissioning phase of its new EU Manufacturing Headquarters in Portlaoise, Ireland.
IDA Ireland welcomes today’s decision from the General Court of the European Union annulling the decision of the European Commission of August 2016.
New Technology Centre of Excellence will be Home to Engineering and Software Development Teams
New European base in Wexford Town will see the creation of 25 jobs over the next three years
IDA Ireland says existing FDI in Ireland is resilient but not immune to impact of the COVID-19 Pandemic. Flow of investments continues but at a slower rate.
Gilead Sciences, Inc. (Nasdaq: GILD) today announced plans to invest approximately €7 million in the company’s Irish operations, opening a new base in Dublin and creating 140 jobs.
George Jon, Inc. (George Jon), the eDiscovery industry’s leading technology platform and consulting specialist, today announced plans to establish its first international office in Dublin, Ireland, creating 20 jobs in the technology sector over the next three years.
By establishing a physical foothold in the European Union and employing local, Irish application and infrastructure engineering talent, George Jon will be ideally positioned to service and grow its portfolio of EMEA clients, which includes “Big Four” accounting and advisory firms, multinational corporations, law firms, government agencies, and hosting service providers.
Triggerfish, the animation studio behind Netflix’s first original animated TV series from Africa, today announced it is to establish its first international studio in Galway. The project, supported by the Irish Government through IDA Ireland, is expected to create 60 new jobs over the next three years.
UPMC, a leading integrated healthcare provider and insurer, announced today that it is establishing the UPMC Global Technology Operations Centre in Kilkenny to support the health system’s continuing international expansion. The new centre—to be located in MacDonagh Junction, a historically significant mixed-use development—is expected to employ up to 60 skilled technology workers and other support staff over the next three years, adding to the more than 475 staff already in Ireland.
Minister for Business, Enterprise and Innovation, Heather Humphreys TD, today announced details of a new grant scheme aimed at supporting the production of vital medicines and medical equipment in Ireland. The Department of Business, Enterprise and Innovation received approval for the Scheme from the European Commission today.
CORK CITY, IRELAND and PLEASANT GROVE, UTAH – MAY 29, 2020 – doTERRA, the world leader in essential oils and wellness products, is set to create up to 100 new jobs in the northern suburbs of Cork City over the next three years with the opening of the company’s first manufacturing facility outside of the United States.
Meissner Filtration Products announced today that their new manufacturing facility in Co. Mayo is operational. The new facility features a state of the art 930 m² (10,000 ft²) ISO class 7 cleanroom dedicated to the manufacture of Single-Use Systems. Validation of the facility was completed in mid-April and the facility is currently manufacturing products for their biopharmaceutical and pharmaceutical client base.
New Centre of Excellence will create 50 new jobs and support new and existing clients in Europe, the Nordics and the Americas.
I’m getting back in touch with you on foot of the Government’s latest public health advisory regarding restrictions of movement due to Covid-19.
On Friday (May 1st 2020), An Taoiseach said the existing public health measures announced on April 10th will be extended until May 18th with some very limited lifting of personal travel restrictions.
We are reaching out to you on foot of the updated public health advice from Government advising the public of increased restrictions on movement owing to Covid19.
The purpose of these increased restrictions is to save lives and employers and employees should follow this advice.
Martin Shanahan, CEO IDA Ireland:
This is a very difficult time for business, both Irish businesses and international businesses that are based here in Ireland and indeed businesses right across the globe.
This is a global pandemic and has caused widescale disruption to the global economy in which Ireland operates.
Udemy, the largest global marketplace for learning and teaching online, announced today the opening of an expanded office in Dublin, Ireland. The new office opening represents continued investment in the company’s EMEA headquarters, follows a milestone growth year, and a recent commitment by long-time Japanese strategic partner Benesse Holdings to invest $50 million in the company.
The role of placemaking in helping to enhance Ireland’s attractiveness to investors was highlighted at an event today hosted by IDA Ireland in partnership with the Department of Housing, Planning and Local Government. The event was held as the second phase of the Department of Housing, Planning and Local Government’s Urban Regeneration and Development Fund was rolled out. Under the call, local authorities are invited to submit proposals for transformational placemaking and urban development projects that will enhance the attractiveness and liveability of Ireland’s cities and large towns and support compact urban growth, one of the key strategic objectives of Project Ireland 2040.
Sift, a leading Digital Trust and Safety technology company, today announced that it is expanding its international presence with the opening of its new EMEA headquarters in Dublin, Ireland.
The company, which counts several major European businesses such as Cabify, Curve, Delivery Hero, and GetYourGuide as customers, has already hired several members of its quickly growing Sales team with plans to continue hiring.
The COVID-19 Response Guide outlines IDA’s approach to the crisis and consolidates relevant information and supports available across government departments.
Ireland is the leading destination for pharmaceutical activity, 85+ biopharmaceutical companies call Ireland home, Ireland is the third largest exporter of pharmaceuticals globally and 50 FDA-approved manufacturing plants are located here.
Ireland has developed a global banking
reputation and is a recognised location for front,
middle and support activities, including operations
Ireland has a sophisticated fintech & payments ecosystem with
a deep pool of local expertise available. Many of the world’s leading
companies have a significant presence in Ireland, with activity spread
right across the sector including; Online Payments & Processing,
Digital Banking, Cross Border Payments, Payment Gateways,
Insurtech, Regtech and Blockchain.
Ireland is a global centre for servicing the insurance
industry with local expertise across the full range of
sub-sectors including Life, Non-Life, Specialty Insurance,
Reinsurance and Captive Insurance.
Everything you need to know about investing in Ireland in 2019 including information on economy, talent, tax, commercial property and more.
The enticement of a relatively wealthy market of 500 million consumers often makes opening a European office one of the earlier expansion steps for American technology companies. However, there are right and wrong ways to establish a European operation, with fostering the right culture a key aspect that will significantly impact the hoped-for financial contributions.
Companies across a diverse range of industries are using artificial intelligence to streamline data management and analytics, gain a competitive edge and find new ways to drive growth. As more companies look to capitalize on AI technologies for their data-driven decision making, there’s a demand by businesses to find ways to avail themselves of AI quickly and cost effectively. AI is starting to emerge as a service, and I see 2020 being the year that AI as a Service (AIaaS) explodes onto the market.
In a recent report published by Accenture, entitled Does Digital leadership in Banking really matter?, links were established between the digital maturity of a bank and its market valuation. The essence of the argument is that banks who successfully digitalise their data enjoy greater efficiencies that lead to lower costs as a percentage of revenue, which leads to a higher market valuation. Increasingly, banks and other financial services firms are turning to blockchain technology as a means of storing and transferring data in order to increase transparency, lower costs and accelerate the speed at which it is transferred.
As Brexit approaches, uncertainty continues to surround the potential exit of the United Kingdom from the European Union. While there are far reaching implications, taxes and trading systems are just two considerations that will impact American chip and system engineers and their employers. The situation is complex and becomes more challenging as each day passes. Strong trade bonds tie Europe and the US - data from the Office of the U.S. Trade Representative shows that the EU/US bilateral trade flow is the biggest in the world, far bigger than that between the US and China. In 2018, the U.S. imported $683.9 billion of EU goods compared with $557.9 imported from China. U.S. exports reached $574.5 billion to Europe while only $179.2 billion was imported to China. Trade with the UK is significant, the U.S. accounted for 19% of U.K. exports and 11% of imports.
In the restaurant business, technology is fast becoming key to delivering superior service for customers, and this has propelled Boston-based Toast to revenue growth of 148 per cent during 2018.
Every company that wants to grow will reach a point where it needs to expand into new markets. Doing it right means setting up operations closer to those customers.
It’s a big step, but it’s one that many others have taken before. For this blog, we spoke to senior leaders at leading tech companies that expanded into Ireland. They shared their advice on getting a fast and frictionless start, with five practical tips for others planning to grow their business internationally.
In late May, Ireland will become a hive of blockchain activity. Over seven days, events will bring together entrepreneurs, developers, corporate leaders, regulators and government services for a series of talks, workshops, networking opportunities, a hackathon, culminating in a meeting of the ISO TC307 group that will discuss standards around the emerging technology.
Even by the hyper-growth standards of the technology industry, Park Place Technologies stands out for its rapid recent rise. Last year, the company had its sixth successive ranking on the Inc. 5000 list of the USA’s fastest-growing private companies. In the past 18 months, it closed 10 acquisitions spanning Latin America, Asia and Europe.
The mission of IDA Ireland has been constant, since its foundation by the government of the day in 1949—to promote the growth and development of industry in Ireland. In the early years of the Irish Republic, the economy was inward-looking, with high tariffs on imported goods, a strategic focus on indigenous industry and limited export trade.
What’s happening in Sligo right now proves that it’s possible to achieve work-life balance without compromising on a career. That’s what more than 320 people discovered on the journey there by train from Connolly Station Dublin to a careers fair dubbed ‘Tech on the Wild Atlantic Way’.
ILC Dover, a global leader in flexible containment solutions for the pharmaceutical and biopharmaceutical industry today announced it is expanding its Irish production footprint by opening a location in Blarney, County Cork, Ireland creating up to 70 jobs over two years.
Biotechnology company Regeneron had two reasons to be cheerful after the inaugural Invest in Ireland Awards in October. The company came away with the Grand Prix and also won the ‘Excellence in Regional Investment’ category. The recognition follows five years of expansion in Ireland since the company first announced its presence here in 2013.
The impending exit of the UK from the European Union has set off deep ripples that are being felt in many directions. With less than 6 months to go until Brexit; it’s looking like it could mean potential disruption for US Tech companies doing business in the EU in 2019. Despite the current Brexit anxiety and changing political situation, US firms still need to craft a game plan for whatever the relationship between the EU and UK will look like in 2019 and beyond. With that in mind, here are some key issues to consider for U.S. companies that are worried about their European business in 2019.
The 29th of March next year is a critical date for U.S. biotech companies because business as usual disappears in Europe as a result of Brexit. Long a favored location for manufacturing and selling pharmaceuticals and devices across Europe, the United Kingdom will no longer be part of the EU and so free trade across Europe will change. American firms with UK operations should have already devised a post-Brexit strategy and begun implementing it given the fact that the changeover is just a few months away.
The Invest in Ireland Awards took place last week at a gala ceremony in the Mansion House in Dublin. The inaugural event honoured some of the most prominent names in Ireland’s foreign direct investment sector.
The global investment climate is in flux right now with investors looking to locate in jurisdictions that can offer them stability across the policy and regulatory and talent worlds.
Technical recruiters are living out the famous Charles Dickens line, "It was the best of times, it was the worst of times." The United States is now nine years into the second-longest economic upswing in history and business is booming but at the same time, finding qualified tech workers has become a virtual Mount Everest achievement, leading to poaching wars, relentless job-hopping, unfilled positions and angst in executive suites. This is coupled by a mounting challenge, the H1-B lottery and slow green card processing are all discouraging candidates. A recent survey of over 3,000 technology leaders by KPMG revealed that 65 percent believe hiring challenges are hurting their business, up from 59 percent who thought so in the previous year's survey.
A dairy cow lumbering through a field seems to be the antithesis of high technology but sensors, AI, analytics, connectivity and the other elements of the Internet of Things are beginning to have a significant impact on milk production, which is none too soon. With a world population that will reach 9.7 billion by 2050 -- that's more than two billion additional humans than exist today -- global food production system will be increasingly under siege from forces like urbanization, climate change, less arable land and the ongoing difficulty of finding workers in the United States in this low-paying field.
Ireland is playing India in two T20 cricket internationals in Dublin this week; the first match takes place to-day (27 June) and the second on Friday (29 June), in Malahide.
Interest in artificial intelligence is at ‘fever pitch’, according to the technology market research company IDC. If measured in money, the heat will reach almost 20 billion this year – that’s the dollar amount IDC forecasts that companies will spend on AI and cognitive computing. But in fact, the temperature around these technologies has been rising for some time.
While the American medtech industry is thriving, it still must deal with challenges that include higher production costs, finding skilled staff and the ongoing issues innate to a highly regulated sector. Then there are global concerns such as competition, funding and the high cost of research. With Europe and the United States being the key markets, many U.S. medtech firms have located some of their operations in Ireland in order to take advantage of an established, flourishing life sciences sector, strong governmental support and easy access to the lucrative European market.
With an expected two billion more mouths to feed on the planet by 2050, it's no surprise that the Agtech industry is looking at new approaches today to achieve this goal, searching for lower-cost technology that will deliver higher yields with less environmental impact. American Agtech companies are under increased pressure as the United States recently slipped from first to fourth place in the rankings of most "food-secure" nations worldwide, according to the Economist Intelligence Unit.
If there’s one word that captures the aims of ambitious high-tech companies, it’s scale. It’s about hitting big numbers – whether that’s customers, ARR or valuation – fast. Scale is embedded into the DNA of founders and the VCs backing them with the financial firepower to reach their ambitious goals.
When Keeper Security set up its first European operations in late December, it chose Cork as its location – but its decision wasn’t out of the ordinary. The password management company joined a growing roster of cybersecurity companies operating in the greater Cork area, including AlienVault, Cylance, eSentire, FireEye, Malwarebytes, McAfee, Sophos, Trend Micro and Trustev/TransUnion. You could say that Ireland’s second city is a hidden gem for cybersecurity.
When Jaguar Land Rover announced 150 jobs in Shannon back in January, the engineering work at this this site turned out not to involve pistons and carburettors but devops and code. The news is a signpost of change happening right across the auto industry. Cars increasingly rely on software and connectivity, and in doing so, they’re fulfilling a forecast from a 2016 Harvard Business Review article: “every business will be a software business”. Last year, Marc Rogers of the security company CloudFlare, went further, telling the New York Times: “These are no longer cars… they are data centres on wheels”.
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