Technology Hub of Europe: Why companies choose Ireland.
Innovation: IDA Ireland offers collaborative funding and tax incentives (e.g. 25% tax credit) to eligible R&D investments. This dedication to innovation is reinforced by the Irish government spending €4.7 billion on R&D in 2021. Highly Educated: Ireland is celebrated as having a highly educated workforce, with "62.3% of Irish people aged 23-34 having completed third-level education" and the "Highest level of STEM graduates per capita in EU among 20-29 year-olds" (IDA Ireland, 2023). Corporation tax: Formerly, Ireland's tax rate was 12.5%, the second lowest in Europe behind only Hungary (9%) (Bray, 2023). Due to this, multinational corporations were incentivised to locate in Ireland to improve profit margins through a lower tax rate. As of budget 2023, legislation is being prepared to formalise this 15% corporation tax but it should be mentioned this rate only applies to corporations with revenue in excess of €750m (Taylor, 2023). English speaking: Wit...
