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Internet companies would be 'nuts' not to invest in Ireland
Feb 22 2012, 16:33 PM
Ex US president Bill Clinton has told American executives that they'd be 'nuts' not to invest in Ireland, as Dublin looks set to become the capital of big data.
The Government of Ireland has joined with data storage and data management companies in a bid to make Ireland attractive to the big data companies, and so far it looks to be working.
Internet companies including Google and Yelp are looking for additional space in the Irish capital, as are Salesforce, Bank of New York Mellon and Citigroup. Facebook is already well founded in Ireland, but it is looking to more than double the size of its European headquarters in Dublin.
Two of the central reasons that big data companies are looking to invest are because of the competitive rents and corporate tax rate in the country. Office space is now around 55 per cent lower than when the market peaked in 2007, and the corporate tax rate of 12.5 per cent is a big attraction for US companies.
Data quality and data protection may well also be a big pull factor for American multinationals, with both the government and private companies committed to top-of-the-range data solutions in the country.
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