Dublin’s FDI success – Irish capital surpasses Paris
fDi Magazine has released its European Cities and Regions of the Future 2018/19 rankings. The report finds the most promising cities and regions across the whole of Europe in terms of FDI investment. Their ‘Top 25 European cities of the future 2018/2019 Overall’ results placed Dublin city in second place behind London and ahead of Paris. Dublin also achieved a second-place position.
The first three quarters of 2017 saw Dublin receive the same number of financial services projects as it had received in the whole of 2106 and 2015 respectively. 2017 saw Merrill Lynch say it would establish a new EU headquarters in Dublin. 2017 also saw Canadian based TD Securities announce that it would be expanding its operations in Dublin with the opening of their EU hub.
R & D Investment
Of all the cities studied in the report, Dublin received the highest level of capital investment in R&D. The Irish capital received more than $1.6bn in R&D investments from 2012 to September 2017. This was no accident. At the end of 2015, the Irish government published its Innovation 2020 – Excellence Talent Impact report. This report set out Ireland’s policy plans for attracting R&D investment. The report aims to do the following;
- increase the number of research personnel in the country by 60% to 40,000 people
- to develop the network of research centres in the country
- to reach an R&D intensity target of 2.5% of gross national product
Kaspersky Lab, the Russia based software company, chose Dublin as the location for its research lab in 2016. The company credited the opportunities to hire quality tech talent and the collaboration with other IT companies as the primary motivators behind their decision. Add to this Stripe's recent launch of its engineering hub in Dublin, MSD/Mercks jobs growth of 200, Autodesk's announcement of 200 new jobs and it's clear that Dublin is a city worth investing in.
An Taoiseach Leo Varadkar was so pleased with the Stripe announcement, he posted a video on twitter!