Such is the strength of Ireland as a location for multinationals that all ten of the biggest online companies – including Google, Facebook, Amazon and eBay – have major operations in the country. Add to this nine out of the top ten global pharmaceutical companies and a great range of other corporations: Ireland is clearly an attractive destination for business, as Barry O’Leary, chief executive of the Industrial Development Authority (IDA) explains. “Companies come to Ireland for the talent pool, the tax advantages, the technical capabilities, ease of doing business and the strong industrial clusters. In the past six months we have had €1.2 billion in inward investments in the biotech sector alone.” O’Leary points to a new 240,000 square foot facility currently under construction by US pharma giant Lilly. “We have an outstanding history in life sciences,” says O’Leary. “If these companies have a malfunction, it can be very costly for them. We have an impeccable record.” Fellow US pharmaceutical giants Abbot and Allergan have also invested in Ireland. The Science Foundation Ireland (SFI) conducts research projects and forms partnerships with multinational corporations, helping to support the many thousands of jobs which depend on the sector. Altogether, one in six Irish employees work for multinationals and the companies pay two-thirds of all corporation tax.
