CDA – A Roadmap for Branding Dublin 2012 – A Discussion Paper

A Roadmap for Branding Dublin, A Discussion Paper 2012Foreign Direct Investment Target Markets:“In no other nation in the world are US MNC’s as prevalent as they are inIreland.” 56“The global information technology revolution, favourable corporate taxrate, Irelands strategic success in attracting other high value industrieslike life sciences and fi nancial services, the nation’s access to theEuropean Union – all of these factors converged in the mid 1990s tomake Ireland one of the most attractive destinations in the world for USmultinationals”. 57> Ireland is renowned internationally as a prime locationfor Foreign Direct Investment (FDI) attracting 79 newannouncements in 2011 while Dublin attracted 35 ofthese representing a 45 per cent national share. 58> Almost 70 percent of total FDI into Ireland and Dublin issourced from US based companies while Germany andFrance contribute 11 percent and 5 percent respectively 59 .Estimated at roughly $55 billion in 2010 the total output of US foreignaffi liates in Ireland is equivalent or greater than the aggregate output of manydeveloping nations. Ireland accounts for almost a 9 percent share of total USinvestment in Europe. 60While emerging markets offer great potential for future attraction of FDI, it isimportant that we do not overlook the importance of our traditional partners,in particular the United States.56 American Chamber of Commerce Ireland. Built to Last –The Irish-Us Economic Relationship, 201157 Ibid.58 Industrial Development Agency, Announcements 2007-201159 Ibid.60 American Chamber of Commerce39