Supports for FDI
The Industrial Development Authority (IDA), www.ida.ie, is the Government Agency in Ireland tasked with attracting and supporting multinational companies in setting up their Irish based operations. IDA has offices throughout Ireland and across the globe whose primary goal is to support foreign companies in their efforts to establish operations in Ireland.
IDA can help with all of the elements related to finding the right location for your business, establishing contacts with Universities and Colleges, help with navigating the legalities of incorporation of the Irish entity as well as many other practical aspects of joining the growing number of Microelectronics companies in Ireland. An IDA executive will be more than happy to guide you through the process.
Perhaps the most significant supports provided to companies investing in Ireland are those available to companies whose Irish operation engages in Research, Development & Innovation (RD&I).
- IDA Ireland has an RD&I Programme of grant aid for RD&I projects including grants for RD&I Feasibility Studies and Training.
- A 25% R&D tax credit – designed to encourage companies to undertake new or additional R&D activity in Ireland. The tax credit covers wages, equipment, buildings and related overhead costs of establishing a RD&I activity in Ireland
- Irish legislation provides multinational companies with incentives to generate qualifying patents – up to €5 million of annual qualifying income can be exempt from Irish tax.
- A maximum corporate tax rate of 12.5% on all corporate trading profits generated by RD&I activities.
- IDA Ireland/Enterprise Ireland Competence Centres finances industry led collaborative research on commonly identified industry problems.
- Science Foundation Ireland (SFI) Centres for Science, Engineering and Technology (CSETs) funds major university based centres of collaborative research with industry.
- SFI also funds Strategic Research Centres (SRCs) to do collaborative research in selected research themes deemed important for Ireland’s future economic growth.
- EU 7th Framework Programme for Research and Technological Development (FP7)
In addition to RD&I funding, IDA Ireland has a number of direct support mechanisms, including employment and training grants. Through its property portfolio, IDA also has a suite of property offerings to enable companies to fast track their project start-ups.
IDA Ireland works closely with companies to ensure they have the facilities, resources and supports needed to establish and expand their RD&I operations. IDA also helps ensure that these progressive companies continue to flourish in Ireland as key drivers of Ireland’s future economic success.
