ISN'T IT RICH? - American Business Media

SPECIAL ADVERTISING SECTIONIRELANDInternationalpushed rents to levels which in some cases acted as a deterrent forinvestors, while the related residential property bubble putupward pressure on salaries. However, the recession has led toreduced rents and resulted in Ireland winning back the muchvaunted competitiveness which had come under strain during theboom years. Start-ups have made intelligent use of technologiessuch as cloud computing and reduced rents to overcome the challengesposed by lower levels of debt funding’.Competitive behaviourIn an economic climate where clients are increasingly savvy aboutwhat they can demand from companies, location is becoming amore and more significant factor. This is especially true of thetechnology sector, an area which is dominated by major US players.This has been reflected in the industry landscape of the Irishmarket, where the vast majority of new entrants recently haveemanated from the US. Ireland’s location provides much-vauntedaccess into Europe but maintains the proximity to the US notoffered by Eastern European markets to the same extent.Keen to develop a rare bright spot on a troubled financial horizon,the Irish government is dedicating a lot of resources to thepromotion of the sector. It’s a smart move in a time when jobopportunities and economic boosts are proving very thin on theIn an economic climate where clients areincreasingly savvy about what they candemand from companies, location isbecoming a more and more significantfactor. This is especially true of thetechnology sector, an area which isdominated by major US players.ground, and has done a lot for improvement of the country’s perceptionin the eyes of Europe – providing a much needed competitiveedge. Ireland’s Science Foundation, for example, hasrecently announced a healthy investment in the sector with theproposed establishment of a series of research centres with anonus on support for start-ups. ‘Ireland has the three ‘Ts’ – talent,tax and track record’ Whelan notes. ‘It has digital infrastructurethat will support both the foreign direct investment companiesoperating in that ecosystem and new Irish start-ups that are creatingthousands of jobs’.Ireland’s feted headline corporate tax rate is certainly of signif-Perspective.With an IrishPoint of View. E: T:E:E:T: March 2012 | americanlawyer.com