Dundalk – Drogheda Joint Marketing Initiative Update presentation Dundalk Chamber, Drogheda Chamber, Oriel Hub, The Mill, Louth Co.Co. 26th September 2018
Background – Government Policy • Project Ireland 2040 - National Planning Framework • One of the key National Policy Objectives - • Objective 2b: Building Stronger Regions, Accessible Centres of Scale. • Addresses the key future planning, development and place-making policy priorities for the Eastern and Midland Region. • Focused approach to compact, sequential and sustainable development of the larger urban areas along the Dublin – Belfast economic and transport corridor. • Discussion at SPC (Economic Development and Enterprise Support) and Louth Economic Forum. • Led to establishment of working group, made up of Chambers of Commerce in Co Louth with other economic stakeholders (Oriel Hub, The Mill) with LEO/LCC.
The Private Sector What drives Business Investment Decisions?
Drivers of Investment Decisions • *Talent– critical mass of population/ profile of population • Track Record – peer companies encourage others to invest/ cluster effect • Technology – teleco/broadband infrastructure/specialist skills • *Connectivity– links to international ports and markets • Property Solutions - Availability of modern ‘turnkey’ properties (suitable buildings, locations, legally clean, technical standards) – in an urban/city type setting. • For indigenous companies – access to Accelerator/VC funds/markets • Competitiveness & Costs (Labour/ Property) • Education/ Skills / Access to Research and 3rd level • Attractive location offering quality lifestyle to employees/families eg. restaurants, schools, public realm, footfall, etc.. • (Not considering Rep. of Ireland factors: EU; Euro; Tax)
Louth response • Aim: A single ‘Louth centric’ marketing product • - collaboration to develop regional marketing collateral • - promoting Drogheda-Dundalk (Newry cross-border network) - Co Louth and its wider catchment, as a single product • - move away from individual towns • Branded: ‘M1 Corridor’ - an exciting opportunity that addresses the key future planning, development and place-making policy priorities for the East/Mid Region • Highlights: the many reasons to work, live, play and invest in the region, • Leverage employment opportunities, skillsets in the region, aid future sustainable population growth. • Provide substantiated key facts and figures that demonstrate the region as an ideal location to start or grow a business. • Enhance the profile of the Region/M1 Corridor as a location recognisedas an excellent opportunity for trade and investment.
Louth response • Working Group • Louth Economic Forum’s agreed action to develop marketing collateral to promote Dundalk/Drogheda/all county as a single product, rather than as individual towns. • Is a partnership of local stakeholders to develop co-operative initiatives in response to the NPF, identifying the Drogheda-Dundalk-Newry cross border axis as a regional economic growth centre • consulted widely in Louth, working closely with the Local Authority, the Louth Economic Forum, its members and State agencies .
M1 Corridor Concept Development • The M1 Corridor Marketing Collateral Development Project • To develop persuasive marketing collateral (digital/video/print), with flexibility of use which can be easily updated; • Highlighting employer and employee benefits of locating adjacent to the only EU land border, to exploit potential opportunities for post Brexit relocation of Tier 2 financial service businesses in the short term (12 months). • To develop a linear city concept for the M1 region (60-minute catchment), complementing the activities of the M1 Payments Corridor. • Demonstrating the exceptional potential of urban centres in the M1 region as an enticing alternative to Dublin, for setup or relocation of indigenous businesses and FDI.
Methodology • Is a ‘work In progress’ • Format: Online (website M1CORRIDOR.IE and M1CORRIDOR.COM, social media platforms with PDFs of key messages) • Offline (brochure folder, inserts, presentation slides, tailored to specific markets) • Sources of Data: • - Commissioned Spatial Insights (AIRO) to map Dundalk/Drogheda data • - defined catchments (15/30/45/60mins) • - key socio-economic data on region • - skills availability and skills mobility • - TechIreland (mapping the start-up environment for enterprise) • - Commissioned promotional videos for website (x5: Talent, Connectivity, Industry/Business Environment, Lifestyle, Summary mix) • - Identifying location solutions for investors
Target Markets • Target Markets • - New FDI considering investing in Ireland, particularly those requiring international connectivity, supporting IDA Ireland’s Regional Strategy; • - existing FDI stock in Ireland seeking a second site /expansion and consider Dublin prohibitive; • - indigenous industry seeking a second location; • - building clusters of expertise in the energy, agri-food, research and FinTech/ payments industries; • supportive location for High Potential Start Up companies • Marketing Channels • Stakeholders own channels • IDA Ireland and Enterprise Ireland: regional, sector, property and overseas teams, to assist meet their regional objectives • Property/ Location consultants • Conferences/ Seminars
The Brand • Guiding Principles • Regional • Not associated with any single town • Potential to be recognised internationally • Allow for tagline • Future looking, connected, • Louth at its centre, but not exclusively Louth • Aligned to National Planning Framework / Project Ireland 2040 and RSES • (Drogheda-Dundalk-Newry cross border axis as a regional growth centre)
M1 Corridor defined The 60-minute catchment surrounding Dundalk and Drogheda, along the M1 motorway
Key Enablers 1. Talent2. Connectivity3. Infrastructure & Property4. Industry Clusters /Track Record5. Business Environment/Start-up Scene6. Lifestyle
Talent The M1 corridor provides a young and highly educated workforce, in Ireland’s most densely populated region outside Dublin. A growing population of 2.25 million in 10% of the land mass. Projected 2.61m by 2031 • Within a 60 minute drive • ¾ residents (72%) live in larger urban centres >10k population • Population density x3.9 the Rep. Ireland average. Almost ½ Rep. Ireland population.
Talent – Critical Mass, Urban and Young The M1 corridor provides a young and highly educated workforce, in Ireland’s most densely populated region outside Dublin. • Largest catchment in Ireland spanning 10% of the land mass • Unrivalled – greater than Cork + Derry + Limerick + Galway + Waterford combined! • Young - 1 in 3 of population under 25 yrs
Talent - Educated Win the war on Talent Locate development where people can be at their best • 45% of all 3rd level graduates in Rep. Ireland • 86,000 full-time student population • ½(48%) of all 3rd level studentsin Rep. Irl. • 46% STEMM graduates (2016) Rep. Ireland • 33% population (18-64yrs) has 3rd level qualification 6 Universities and 7 Institutes of Technology/Colleges, including DkIT, 5,000 students, research facilities and technology support.
Talent – International Skills Win the war on Talent Locate where there is vibrant availability of languages • 287,000non-Irish nationals/ International Residents live in catchment • 54% of all International Residents • Polish: 80,000 (70% Rep Ireland) • Lithuanian: 23,000 (70% Rep. Ireland) • Rest EU 28: 91,000 (63%) • Rest World: 81,000 (34%)
Talent – Commuter Opportunity Win the war on Talent A large mobile workforce, highly skilled and educated (within immediate 15 min. catchment, M1-15) • >55,000 resident workers • >27,500 (50%) reside and work in M1-15 • Half of resident workers commute (27,000, 50% commute outside M1-15 to work) • Outbound Commuters Profiled • Highly Educated: • 61% have 3rd level qualification • 52% for M1-15 catchment • 33% for M1-60 catchment • Dominated by Professional SEGs: • 21% owner/managers (16% in M1-15) • 10% higher professionals (8% M1-15) • 17% lower professional (17% M1-15) • 27%non manual (31% M1-15)
The future is bright Almost half (48% )of Rep Ireland’s 0-4yrs. populationPopulation 0-4 yrs. greater than:Cork + Derry + Limerick + Galway + Waterford combined
Connectivity The M1 Corridor links Ireland's two largest cities, Dublin & Belfast, with the largest towns, Drogheda & Dundalk at its centre Air: 3 International Airports within 75 minutes, serving 250 UK, European, and Asian destinations with direct flights • Dublin Airport (20/40 minutes) • Daily flights to 94 destinations to UK, Europe and USA • Carrying 30 million passengers per annum • US preclearance, and 11 North American destinations daily Rail Intercity service connecting Dublin to Belfast in 2 hours and commuter services connecting Dublin’s IFSC to Drogheda (30 min) and Dundalk (60 min) Sea 4 Deep Sea Ports, Dublin, Warrenpoint, Belfast, Larne
Infrastructure & Property 1 Gigabyte fibre broadband Louth is Irelands fastest county, 86% of the region has access high speed fibre broadband, Louth is Ireland’s fastestcounty 86% Regional Access 1 Gigabyte High Speed Broadband
Infrastructure & Property The M1 Corridor is investor ready with existing utilities and property. Very competitive property solutions – 25%/50% of Dublin prices Available high quality office and industrial / warehousing facilities Science and Technology Park, partially developed IDA site
Industry Clusters The M1Corridor is establishing itself as a centre for global excellence in digital innovation • Established Clusters • Financial services • Technology/ Emerging Technology • Life Sciences • Energy • Engineering/Food Manufacturing
Business Environment M1 Corridor is a thriving hub of activity with multinational and indigenous businesses in clusters of financial services, ICT and technology based sectors. Available business supports provide a warm welcome Incubation facilities and startupsupport Research Centres Collaborative research partnerships
Startup Scene • Available business supports provide a warm welcome • Incubation facilities and startup support • Regional Development Centre (DkIT) • The Mill Enterprise Centre • Creative Spark • Louth LEO
Lifestyle Win the war on Talent Locate development where people can be at their best From the beautiful Carlingford Lough and Mourne Mountains to the historic Boyne Valley Horse Racing Ireland’s only all weather horse racing track There are a number of golf courses in the region Water Sports There are number of water sports available in Carlingford Lough Coastal living rich in a tradition of literature, culture, arts and music gives a superb quality of life
Further details available at: W:www.M1Corridor.ie www.M1Corridor.com E:hello@M1Corridor.ie T:1890 202 303 (Rep Ireland) +353 42 933 (International) Twitter:@M1Corridor Facebook: M1Corrodor
Thank You By Appointment: The Mill Enterprise Hub, Drogheda. Contact Local Enterprise Office Louth, Town Hall, Dundalk, Co. Louth. Tel: 1890 202 303 email: firstname.lastname@example.org email@example.com www.localenterprise.ie/louth