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

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Presentation Transcript
slide1

Breakfast Briefing

Barry O’Leary

CEO IDA Ireland

mission statement
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”.

current impact of fdi
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

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key considerations in strategy
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
evolution and future of fdi
Evolution and Future of FDI

*Illustrative examples only

high level goals 2010 2014
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

slide7

10 Steps to Transformation

10 Steps to Transformation

horizon 2020 transformation
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
competitiveness reputation
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)
change in unit wage costs 2009 2011
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
strengthen ireland s value proposition
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

partner with team ireland
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
slide14

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
slide16

Integrated Communications Campaign

  • TV Ads
  • Live TV Interviews
  • Online Media
  • Print Media
  • Airport Posters
  • Press Interviews
  • Web Optimisation
slide18

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

world competitiveness rankings
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)

slide26

FDI Continues –

Recent Dublin Announcements