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Attracting investment to Regional Locations An IDA Perspective

Agenda. Overview of IDA Ireland - The Business of IDA Regional DevelopmentChallenges/Opportunities for Gateways

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Attracting investment to Regional Locations An IDA Perspective

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    1. Attracting investment to Regional Locations An IDA Perspective

    2. Attract investment that will: Exploit the wealth of skills, expertise & knowledge which has been built up in Ireland Focusing on business sectors that are closely matched with the emerging needs of the economy links between international businesses and 3rd level education and research centres to ensure the necessary skills and research and capabilities are in place Building clusters of knowledge-based activities Influence development of infrastructure business support services Telecoms Education regulatory issues especially in relation to EU policyAttract investment that will: Exploit the wealth of skills, expertise & knowledge which has been built up in Ireland Focusing on business sectors that are closely matched with the emerging needs of the economy links between international businesses and 3rd level education and research centres to ensure the necessary skills and research and capabilities are in place Building clusters of knowledge-based activities Influence development of infrastructure business support services Telecoms Education regulatory issues especially in relation to EU policy

    3. The Business of IDA Ireland

    4. IDA - overview A state agency with its own board Attracts FDI to develop economy Supports existing clients to develop additional functions Builds relationships with inward investors Quantity & Quality of investments Regional spread New business areas Employs 295 people Attract investment that will: Exploit the wealth of skills, expertise & knowledge which has been built up in Ireland Focusing on business sectors that are closely matched with the emerging needs of the economy links between international businesses and 3rd level education and research centres to ensure the necessary skills and research and capabilities are in place Building clusters of knowledge-based activities Influence development of infrastructure business support services Telecoms Education regulatory issues especially in relation to EU policyAttract investment that will: Exploit the wealth of skills, expertise & knowledge which has been built up in Ireland Focusing on business sectors that are closely matched with the emerging needs of the economy links between international businesses and 3rd level education and research centres to ensure the necessary skills and research and capabilities are in place Building clusters of knowledge-based activities Influence development of infrastructure business support services Telecoms Education regulatory issues especially in relation to EU policy

    6. IDA Offices Worldwide

    7. Paths to Winning Projects

    8. Established in 1985 - World’s largest biotechnology company After reviewing 25 countries, they chose Cork for their $1 billion+ investment in 2006. Key to this win was how Ireland got it together – land, infrastructure, utilities and facilities, professional services, skills and expertise A Team Ireland response with speed and agility: Cork County Council National Roads Authority, ESB, Bord Gais, etc UCC, CIT and other educational institutions Professional engineering and construction firms Existing companies – their experience as reference

    9. Work needed to generate a project

    10. National IDA Job Gains and Losses 1997 - 2006

    12. Business Mega-Trends Future Business in Ireland Globalisation, technology and digital media. Growth of Asia and integration with West Growth of Eastern Europe Demographic constraints in Europe Growth of services – now 50% of world trade Higher value, more knowledge-intensive and capital-intensive Business transformation & new business models - ‘virtual’ Increasing speed and shorter life cycles e.g. Dell High value manufacturing still critically important Investment will be more mobile than ever & ‘weightless’ – less rooted and potentially footloose More ‘open’ and overseas R&D by multinationals

    13. Life Sciences: Pharma & biopharma Medical technologies ICT: Software Semiconductors Systems Financial services International services: Digital media and many others New Areas Manufacturing Technical & customer support Business processes e-procurement Sales & Marketing Supply chain management Research & Development Brand & IP management Headquarters

    14. Ireland of the Future - the ‘Knowledge Economy’ Higher value activities & higher skills More sophisticated and complex jobs New patterns of investment More continuous learning and re-learning Technology and science more pervasive Premium on flexibility and responsiveness Promoting Ireland as a knowledge economy has become a key message. Investment in knowledge (including investment in public & private spending on higher education) increased by an average annual rate of over 10% over the past decade - compared with averages of around 3% by the EU and the OECD. Future inward investment will be based on high skills, knowledge & innovation. Promote in terms of its people and their quality, skills, adaptability and responsivieness to business needs IDA is promoting higher skill levels throughout the workforce, higher earnings and job satisfaction through lobbying relevant bodies from government, education and idustry through our “Education Skills Research” deparment….so as to ensure the necessary skills are there in order to attract continued high end FDI EXAMPLE – Pfizer – here 35 years manufacture to financial services & R&D Apple – 1980’s manufacture Apple Mc – now European HQ customer service/ logisticsPromoting Ireland as a knowledge economy has become a key message. Investment in knowledge (including investment in public & private spending on higher education) increased by an average annual rate of over 10% over the past decade - compared with averages of around 3% by the EU and the OECD. Future inward investment will be based on high skills, knowledge & innovation. Promote in terms of its people and their quality, skills, adaptability and responsivieness to business needs IDA is promoting higher skill levels throughout the workforce, higher earnings and job satisfaction through lobbying relevant bodies from government, education and idustry through our “Education Skills Research” deparment….so as to ensure the necessary skills are there in order to attract continued high end FDI EXAMPLE – Pfizer – here 35 years manufacture to financial services & R&D Apple – 1980’s manufacture Apple Mc – now European HQ customer service/ logistics

    15. Niche Markets

    16. Regional Development Attracting FDI to Ireland’s Regions

    17. Regional Development Growing recognition in Europe that major city-regions play a central role in developing modern knowledge based economies Knowledge based sectors are heavily concentrated in or near the centres of major cities We compete with city-regions elsewhere with populations of 1 million or more Ireland’s regions are small in comparison We must think and act regionally, not locally Critical mass is essential and gateways are key IDA Ireland is aligned to the NSS with an embedded regional Structure

    18.

    21. What FDI Investors Seek in a location The right people and skills – in abundance The right infrastructure: access, energy, telecoms environment and waste property solutions business services attractive lifestyle and amenities clusters of similar businesses frequently an urban environment The right attitude DOES THE LOCATION GIVE ME CONFIDENCE THAT I WILL BE SUCCESSFUL ?

    22. Where would you choose to holiday in Ireland ?

    23. Where would you choose to holiday in Ireland ? Components of a strong tourism centre

    24. Regional Challenges Companies will select those locations that enable their business to succeed in international markets Delivering the right infrastructure is critical in attracting FDI to the regions: access, energy, telecoms environment and waste property solutions and business services attractive lifestyle and amenities clusters of similar businesses RPG’s As is The right skills The right attitude

    25. IDA Projects 2007 - Trend towards urban locations Successful delivery of projects in Gateways and hubs. Some Gateways and hubs are more attractive to investors for investment. Scale & Critical mass are important distinguishing factors. There are considerable challenges for hubs and smaller locations

    26. Marketing Gateways & Hubs

    27. Cork’s Development – reaching critical mass

    28. Sell the region – not the town Population : 10,241 Workforce: 4,624 3rd level colleges: 0 Airports: 0 Reference Companies: Kostal; ITW Hi-Cone; TR Southern Fastners, etc..

    29. Innovative Property Solutions Kerry Technology Park, Tralee Vision for Seamless Integration of Education and Enterprise Shares 113 acre campus with ITT (Park area 52 acres) Joint KTP/ITT Physical Masterplan and Development Guidelines 26,000 sq ft InnovationWorks Building 24,000 InnovationWorks 2 building 16 companies on-site Over 300 people employed Active local Management Shannon Development Investment to date: €10m Kerry Innovation Centre/ Campus Enterprise

    34. Ireland’s Gateways & Hubs Look at your offering in the context of Investors’ Criteria / Requirements. Look at the type of investment projects Ireland is attracting / targeting. Take a regional approach - not a local town/hub focus. Some Gateways have greater opportunities to attract FDI over Hubs. Hubs can feed into and out of Gateways. Are there other economic opportunities – tourism, indigenous companies, retail, decentralisation, green initiatives, food & agriculture, commuter towns, etc.. Always focus on positive – no matter what. e.g. Digital, Motorola It is a team effort to develop & market a location – investors can Google ! There are exceptions to everything ! – Commitment or Connection

    35. Ireland continues to win investment in 2008

    38. Challenges/Opportunities for Mallow Companies will select those locations that enable their business to succeed in international markets How does Mallow link into the successful Gateway of Cork? Creating the distinctive pull factor for Mallow ….what does it offer over other locations. ….what does it offer to different sectors, sub sectors Regional Aid Guidelines phasing out for South Area Branding and identity

    40. Mallow Key Selling Points: Infrastructure and Connectivity

    41. Mallow Connectivity: Access to Airports

    42. Mallow: The need to create and communicate Mallow’s offering as an investment location with the best of both worlds:

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