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Breakfast Briefing Barry O’Leary CEO IDA Ireland

Breakfast Briefing Barry O’Leary CEO IDA Ireland. Mission Statement.

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Breakfast Briefing Barry O’Leary CEO IDA Ireland

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  1. Breakfast Briefing Barry O’Leary CEO IDA Ireland

  2. Mission Statement “IDA will maximise the impact of FDI in the transformation of Ireland into a global hub for innovation and commercialisation, bringing new employment opportunities and economic benefits for all its people by sustaining and winning high quality investment. In collaboration with other stakeholders, IDA will ensure Ireland remains a uniquely attractive environment in which multinational companies can grow”.

  3. Current Impact of FDI KEY FDI IMPACTS ON THE IRISH ECONOMY - €110 BN Exports- 240,000 Jobs in Total- 50% of Corporation Tax - €19 BN Expenditure - €7 BN Payroll - 73% of Business RD&I expenditure WORLD LEADERS CHOOSE IRELAND - 8 of the top 10 in ICT - 8 of the top 10 in Pharmaceuticals - 15 of the top 25 in Medical Devices - More than 50% of the world’s leading Financial Services firms gh

  4. Key Considerations in Strategy • Unemployment • Balanced Regional Development • Relative Competitiveness • Growth in Services • Sustain and develop existing FDI • New Markets • Megatrends • Reputation • Government Focus – Smart Economy • Involvement in Broader FDI

  5. Evolution and Future of FDI *Illustrative examples only

  6. High Level Goals 2010-2014 62,000 New Jobs 105,000 Impact Regional Economic Development 50% of Investments outside of Dublin and Cork 20% of Greenfield investments from Emerging Markets by 2014 Emerging Growth Markets Annual €1.7 BN Client Investmentby 2014 RD&I Investments 640

  7. 10 Steps to Transformation 10 Steps to Transformation

  8. Horizon 2020 - Transformation Strategic need to maintain and grow employment and drive Company Transformation ; ESSENTIAL ELEMENTS OF TRANSFORMATION • - Company-wide Competitiveness Initiatives • - Technology Uplift • - Skills Uplift • - Research and Development • - Process Development • - Energy Efficiency

  9. Competitiveness / Reputation Construction • Tender prices down to 1999 levels, -29% since peak in 2007 • House prices down 26.6% since peak in Feb 07 Rents • Prime office rents falling sharply; • Dublin -35%, Galway -40% Limerick -30% Cork -30% • Cost of Living • Consumer Price Index fell 4.5% in 2009. • Salaries • Benchmark salaries for new employees in Irish companies down between 5 and 22 % in the economic downturn, (Irishjobs.ie)

  10. Change in Unit Wage Costs 2009-2011 Source: EU AMECO tables • Unit wage costs will fall in each year to 2011 (Euro Commission forecast) • Unit wage costs take account of productivity and wage levels

  11. DTZ Global Office Occupancy costs

  12. Strengthen Ireland’s Value Proposition • Talent, Technology, Track Record, Taxand the ease of doing Businessare entry points • Sector / Activity / Country Specific • Needs Constant Enhancement Example – Biopharmaceuticals; - FDA Track Record - National Institute for Bioprocessing and Research Training (NIBRT) - SFI Initiatives -Strategic Sites - Cluster Impact - Financial Incentives - Regulatory Environment

  13. Partner with Team Ireland • Irish Technology Hotspot Companies • Mergers and Acquisitions Trends • Maximise impact of MNCs on indigenous • companies • SFI initiatives as magnet for FDI • National Leverage of Expertise • Universities and Institutes of Technology • Industry and Service Providers Stakeholders

  14. IDA Focus Business Model Focus • Global Services • High-end Manufacturing • Research, Development & Innovation Sectors • Life Sciences - Pharma/Biopharma & • - Medical Devices • Information & Communications Technology • Financial Services • Content Industry, Consumer & Business Services • Diversified Industries and Engineering • CleanTech

  15. Integrated Communications Campaign

  16. Integrated Communications Campaign • TV Ads • Live TV Interviews • Online Media • Print Media • Airport Posters • Press Interviews • Web Optimisation

  17. The New York Times - When Irish Ads are dialling (for dollars)October 19th 2009

  18. CNBC USA - Squawk Box - Barry O'Leary, CEO IDA Ireland - Interview September 3rd 2009 Bloomberg - Barry O'Leary, CEO IDA Ireland - Interview October 21st 2009

  19. CNBC Europe - Barry O'Leary, CEO IDA Ireland - Interview November 2nd 2009

  20. Integrated Communications Campaign

  21. Integrated Communications Campaign

  22. World Competitiveness Rankings IRELAND’S POSITION IN THE WORLD RANKINGS • - 4th(1st) for the availability of skilled labour • - 7th (1st) for the availability of financial skills • - 1st for real corporate taxes • - 7th (3rd)for flexibility and adaptability of people • - 4th (3rd)for being open to new ideas • - 6th (4th)for labour productivity Source: IMD World Competitiveness Yearbook 2010, (2009)

  23. FDI Continues – Recent Dublin Announcements

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