The latest news, announcements, articles and blog posts from IDA Ireland. Keep informed about Foreign Direct Investment in Ireland.
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.
Mastercard has today announced its plans to create 1500 jobs in the next three to five years as it significantly grows its new European Technology Hub in Dublin. The plans reflect Dublin as a key location in Mastercard’s global footprint.
As a leader in payments technology, Mastercard is to grow its workforce with notable investments in its artificial intelligence, cyber security, blockchain, user experience teams, and more. As such, Mastercard will be recruiting for talented technologists with strong development and software skills looking to work on impactful, cutting edge technology projects.
Maxim Integrated Products, Inc. (NASDAQ: MXIM) today announced the opening of a new design center in Dublin, Ireland. The design center will focus on product development and conducting research and development in the areas of analog semiconductor design to deliver Maxim’s innovative solutions across many end markets.
To make this vision a reality, the company will recruit a strong team of mixed-signal and analog design engineers at this facility. The $25M investment will be primarily geared towards recruiting talent, equipment and building costs, as well as research and development. Located on the south side of Dublin, this is Maxim’s seventh design center located in Europe.
Payoneer, the digital payment platform empowering businesses around the world to grow globally, announced today its continued global expansion with the establishment of a new office in Dublin, Ireland. This announcement, in conjunction with the Central Bank of Ireland (CBI) authorizing the Dublin entity of the fintech unicorn as an Electronic Money Institution, demonstrates Payoneer’s commitment to being a reliable, secure and convenient partner for businesses all over the world.
The IDA Ireland organised forum, in association with the Financial Times, brings international and Irish financial industry leaders, regulators and policy experts together
Allergan plc, the global integrated biopharmaceutical leader headquartered in Ireland, today marked the opening of its €160m state-of-the-art Biologics 2 facility at its Westport Campus in Co. Mayo, Ireland. The new facility will create 63 jobs and enhance Ireland’s position as a strategic global hub for Allergans’ flagship products, including their botulinum toxin brand. This brings Allergan’s total investment in Ireland since it began operations in the country to more than €750m.
Monday, January 20th 2020 | 1000hrs | Dublin - IDA Ireland’s inaugural ‘Special Recognition Award’ recognising the contribution of our clients to Ireland was presented by An Taoiseach Leo Varadkar and IDA Ireland to Apple and accepted by its CEO Tim Cook, at a special ‘Looking to the Future’ event in the National Concert Hall this morning.
New York, Limerick, 17 January 2020: AxiomSL, the industry’s leading provider of regulatory reporting and risk management solutions, today announces the opening of a business operations centre in Limerick, Ireland, creating as many as 100 jobs over the next five years. The office will be located in the National Technology Park in Plassey. The project is supported by the Irish Government through IDA Ireland – the agency responsible for the attraction and retention of inward foreign direct investment into Ireland.
Minister for Business, Enterprise and Innovation, Heather Humphreys and IDA Ireland, the Irish Government agency responsible for attracting foreign direct investment (FDI) to Ireland, today announced that employment levels in its client companies have now reached 245,096 - the highest ever number employed in the multinational sector, exceeding targets set by Government contained in IDA Ireland’s Strategy – Winning: Foreign Direct Investment 2015-2019.
Minister for Business Enterprise & Innovation Heather Humphreys TD today turned the sod on a new IDA Ireland Advance Technology Building (ATB) in Monaghan.
The new c.1329m2 building, which will be constructed at the IDA Business & Technology Park, Monaghan will comprise 910 m2 (c.9,800 sq. ft.) of high tech manufacturing space with ancillary office space over two floors.
6th December 2019, CORK - Horizon8, an innovative, technology solutions company today opens its European headquarters in Cork, Ireland. Formerly called HengTian, the Company was created in 2004 as a strategic partnership between Boston based State Street, and Hangzhou based Insigma Technology and Zhejiang University. The new office in Cork will mark the first European office for Horizon8 adding to the company’s North American presence in Boston.
Servier, an independent international pharmaceutical company, today celebrated its 30th anniversary of manufacturing at its Arklow site, with the support of Ireland's inward investment promotion agency, the IDA, a non-commercial, semi-state body promoting foreign direct investment into Ireland through a wide range of services. The celebration was led by Minister for Health Simon Harris, Ambassador of France in Ireland, H.E. Stéphane Crouzat, and senior leaders from the Servier Group and IDA Ireland.
Nearly two in five Irish adults (39 percent) haven’t updated their main password in the last 12 months, according to new research.
The research, published today by OneLogin, a global leader in identity and access management, finds that 20% of Irish adults haven’t updated their passwords in over two years and a further five percent can’t recall the last time they updated their passwords.
Limerick, November 25th, 2019 – FundRock Management Company S.A. today celebrated the official opening of its office in Limerick. This office serves as an operational centre of excellence which complements the FundRock Group.
Minister for Business, Enterprise & Innovation Heather Humphreys TD today confirmed that WuXi Vaccines, a subsidiary of WuXi Biologics (stock code: 2269.HK), is planning to build a $240 million vaccine production facility on the newly established WuXi Biologics Campus in Dundalk, bringing 200 additional new jobs to the town over five years. The new investment, for which a planning application was submitted to Louth County Council last month is being supported by the Irish Government through IDA Ireland will bring total employment on WuXi Biologics’ Dundalk Campus to 600 by 2024.
ARTeSYN Biosolutions, the manufacturer of single-use solutions for biopharma processing, is to significantly expand its Waterford operations by adding 50 new roles in Production, Engineering, Customer Service and Research & Development over the next 3 years at its facilities in the Six Cross Roads Business Park, Waterford. The expansion of the site increases the company’s consumables and overall production capacity by an additional 2200 ft².
Travelport, a leading technology company serving the travel and tourism industry, has announced a further investment in its Dublin operations through the creation of an inside sales centre.
Panasonic Avionics Corporation (Panasonic) today announced the establishment of a Repair Shop in Dundalk, Co. Louth. The investment is supported by the Irish Government through IDA Ireland.
Panasonic Avionics Corporation supplies and services in-flight entertainment and communications (IFEC) systems. The company’s customer base includes more than 300 airlines located across the globe.
A key business unit within Panasonic, Panasonic Technical Services (PTS), provides Repair, Line Maintenance for Aircraft, Spares Parts Supply and Technical Services that include Training & Technical Publications and Technical Support at over 70 permanent locations across the world.
PTS’s customized support programs are designed to ensure equipment serviceability at the lowest possible through-life cost.
Huawei Ireland has today opened a new state-of-the-art Dublin office and announced the creation of 100 jobs over the next three years as the company continues to grow in Ireland. Recruitment is underway for the first phase of the jobs and 30 of these positions are expected to be filled within the next year.
PublicRelay, a leading US media monitoring and analytics firm, announced today plans to establish a new office in Cavan, creating 20 new jobs over the next two years. Cavan was selected as the location for a second office in Ireland based on the strong pool of educated talent available in the region and the innovative nature of Cavan’s newly opened Digital Hub where the company initially will be based. PublicRelay Ireland, Ltd. is currently looking to hire its initial team of associate analysts and a manager to begin work before the end of this year.
EJ, a 5th generation family-owned company headquartered in Michigan, USA, today celebrated the official opening of its new production facility in Birr, Co. Offaly. The company has operated this world class facility on its 2-hectare site in Birr since June of last year.
Patreon, the membership and payment platform for independent artists and their fans, today announced that it is expanding its international footprint with the addition of an office in Dublin, Ireland. The new Dublin office will serve as the company’s European headquarters.
Everything you need to know about investing in Ireland in 2019 including information on economy, talent, tax, commercial property and more.
Ireland - A winning proposition for global business services
What makes Ireland great, makes Ireland great for business
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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