Barry O'Leary, CEO of IDA Ireland, presented on the current impact of foreign direct investment in Ireland. IDA portfolio companies currently employ over 250,000 people and contribute €115 billion to the Irish economy. Recent investments include expansions and new facilities by pharmaceutical and biopharmaceutical companies in Cork, Dublin, Sligo, and Galway, creating over 1,500 new jobs. Initiatives to support Ireland's pharmaceutical cluster include the Solid State Pharma Cluster and the National Institute for Bioprocessing Research and Training. World competitiveness rankings show Ireland is highly ranked for factors that attract foreign investment such as skilled labor, investment incentives, tax rates, and adaptability. The FDI outlook remains positive with a strong pipeline
9. Key Recent Pharma/Biopharma Investments
New Expansion of Galway & Dublin;
biopharmaceutical development and Expansion of Sligo Development,
Dun Laoghaire
facility in Cork manufacturing Pharmaceutical Manufacturing and
Facility in Dublin
operations Plant Supply Chain
$200m / 100 Jobs Management
$420m / 200 Jobs $350m / 200 Jobs $110m / 175 Jobs
$ 500m / 500 Jobs
Bioassay Centre of
Expansion of European HQ Sales
Cork Manufacturing Expertise
biotech campus in and Manufacturing
Plant /Pneumococcal
Grange Castle, Base
Vaccine Conjugation
Dublin
$50m / 100 jobs Facility
120 jobs
€29m
$200m
10. Initiatives to support Pharma / Biopharma Cluster
Solid State Pharma Cluster
ACADEMIA INDUSTRY
Pharmaceutical Manufacturing Technology Centre
National Institute for Bioprocessing Research and Training (NIBRT)
11. What attracts FDI to Ireland?
• Talent, Technology, Track Record (operational excellence), Tax,
• Ease of doing Business , EU Access, English speaking are building blocks…
• Sector / Activity / Country Specific
• Ireland’s Value Proposition - Needs Constant Enhancement
Example – Biopharmaceuticals;
- FDA Track Record TEAM IRELAND
- National Institute for Bioprocessing and Research Training (NIBRT)
- Science Foundation Ireland Initiatives
- Strategic Sites
- Cluster Impact
- Financial Incentives
- Regulatory Environment
12. World Competitiveness Rankings
IBM PLI Global Location Trends Report 2011;
2nd ranked destination by jobs per 100,000 inhabitants
1st ranked destination by value* of Investment projects
* a combination of Productivity, value-added, knowledge
intensity and occupational profile composition
Up 4 Places to Number
20
IMD World Competiveness Yearbook 2012
1st in the world for ready availability of skilled labour
1st for flexibility and adaptability of people to challenges
1st for investment incentives to attract foreign investors
2nd for positive attitudes towards globalization
2nd for adaptability of companies to market changes
3rd for unit labour costs in the manufacturing sector
3rd in the world for labour productivity
4th for corporate tax rate on profit
13. FDI Outlook
• Good immediate pipeline in Technology (ICT) Sector, Lifesciences, Financial Services,
Digital media / Content, Professional / International Services
• Flat European Market
– Importance for FDI
– Global Outlook
• IDA needs to have more than 100+ investments
in play at any one time
• Pipeline generation and conversion is a key focus