breakfast briefing barry o’leary ceo ida ireland
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Breakfast Briefing Barry O’Leary CEO IDA Ireland. Mission Statement. - PowerPoint PPT PresentationTRANSCRIPT
Breakfast BriefingBarry O’Leary
CEO IDA Ireland
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
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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
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
*Illustrative examples only
High Level Goals 2010-2014
62,000 New Jobs
Regional Economic Development
Emerging Growth Markets
RD&I
Investments
105,000 Impact
50% of Investments outside of Dublin and Cork
20% of Greenfield investments from Emerging Markets
by 2014
Annual €1.7 BN Client Investment
by 2014
640
10 Steps to Transformation10 Steps to 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
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)
-8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0%
IrelandFrance
SpainGermanyBelgium
Euro area (16 countries)European Union (27 countries)
SwedenCzech Republic
GreeceCanada
United KingdomItaly
DenmarkLuxembourgNetherlands
Unit wage costs will fall in each year to 2011 (Euro Commission forecast) Unit wage costs take account of productivity and wage levels
Source: EU AMECO tables
Change in Unit Wage Costs 2009-2011
DTZ Global Office Occupancy costs
Region City Rank $ per sq ft per annum
Total Occupancy cost per workstation ($)
UK London (West End)
1 131.60 21,420
Switzerland Geneva 5 93.30 16,870
Switzerland Zurich 8 85.90 15,680
UK London (City) 16 71.50 12,750
Netherlands Amsterdam 20 54.40 11,920
Ireland Dublin 33 51.90 9,770
Strengthen Ireland’s Value Proposition
• Talent, Technology, Track Record, Tax and the ease of doing Business are 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
• 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
• Global Services• High-end Manufacturing• Research, Development & Innovation
Business Model Focus
Sectors• Life Sciences - Pharma/Biopharma &
- Medical Devices• Information & Communications Technology • Financial Services• Content Industry, Consumer & Business Services• Diversified Industries and Engineering• CleanTech
IDA Focus
Integrated Communications Campaign
• TV Ads
• Live TV Interviews
• Online Media
• Print Media
• Airport Posters
• Press Interviews
• Web Optimisation
Integrated Communications Campaign
The New York Times - When Irish Ads are dialling (for dollars)October 19th 2009
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
CNBC Europe - Barry O'Leary, CEO IDA Ireland - Interview November 2nd 2009
Integrated Communications Campaign
Integrated Communications Campaign
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)
FDI Continues – Recent Dublin Announcements
