More than just an investment promotion agency, IDA Ireland strives to be a partner and ally from day one; an attentive concierge, not just an order taker.
“Businesses don’t just invest in Ireland; they reinvest, because we offer unparallelled partnership,” says Michael Lohan, CEO of IDA Ireland.
What makes FDI companies stay in Ireland
“Proof that our partnership approach works is evident in the long-term commitment to Ireland of the companies that put down roots here: 33% of our client companies have been here for more than 20 years, and over 50% have been here for a decade.”We don’t consider company investments in Ireland as one-time transactions. We see them as the start of a relationship and an ongoing conversation. Each company is assigned an account manager dedicated to listening and advising. We’re not just here for the welcome, we’re here for what is to follow,” Lohan says.
The IMD ranks Ireland second in the world for investment incentives, but that only paints part of the picture. Stories abound of the help and support that IDA staff provide, going above and beyond their remit.
Making connections for rapid ramp-up
As well as helping companies to find offices or identify manufacturing facilities; the IDA Ireland team connects clients with essential professional services like recruiters, accountancy practices and law firms. They make introductions to local universities which are both a source of talent and an avenue for collaboration on R&D.IDA Ireland executives often prepare tourist itineraries for potential clients and their families for weekends when they are visiting. They want them to feel at home and show them around their potential new home.
Jason Cohen, WP Engine’s founder, is in no doubt about Ireland’s secret ingredient as a welcoming location for international companies. “The IDA has been extremely helpful before and after. And I think the ‘and after’ is extremely important. That is what partnership looks like, and you don’t find that everywhere. You don’t even find that in American cities somewhere. Even in Austin, Texas, they don’t do that for you. That is really big to have that kind of a partner.”
Facilitating the right introductions
Scott Herren was CFO with Autodesk when the software company relocated its European HQ from Switzerland to Ireland in 2018. This involved changing the company’s legal entity to one that could accommodate both sales and general and administrative functions that the company planned to move to Ireland. IDA Ireland facilitated an introduction to an Irish-based law firm that helped to set up the legal entity and assisted with ongoing governance. It also introduced Autodesk to a recruitment agency to help source talent for the Irish office. “The IDA played a key role in introducing us to everyone in the community and easing the process. I couldn’t be happier with the outcome,” Herren said at the time.The cybersecurity and compliance startup Vanta which came to Ireland in 2022. Paulo Rodriguez, Vanta’s head of International, says IDA Ireland provides a support network for companies that set up in Ireland without an experienced local lead who knows the territory.
IDA Ireland also came to Vanta’s aid when it experienced challenges with the US-based payroll company it had been using. “They put us in touch with three vendors and we got the problem solved within two days. If you’re in a pickle, they pull the rabbit out of the hat,” says Rodriguez.“That’s where the IDA adds incredible value – they will save you so much complexity. You can go to the source, sometimes even bounce ideas off them. They’ve been there. And that is really helpful,” he says.
A community ready to help
Partnership comes in many forms, and it extends beyond IDA Ireland alone. When ThousandEyes set up in Ireland, it needed to find a short-term office as a base for the early hires. Up stepped Bank of Ireland, which had set up ThousandEyes’ corporate banking facility. The bank also happened to run a business incubator at its branch on St Stephen’s Green in Dublin and it gave ThousandEyes working space during its team’s first two months on the ground.“It meant we had somewhere to interview, and bring new candidates,” said Billy Morris, then a senior director in the company’s financial planning team. “I really appreciated Bank of Ireland’s entrepreneurial approach to problem solving. Along with their corporate banking service, it’s almost a landing package for new multinationals that don’t have space yet. Our CFO hadn’t seen something like that before.”
The secret to Ireland’s welcome for business
When MIT researched the factory of the future and human-centric manufacturing for a project involving companies in Ireland, it made a surprising discovery. It found a collaborative approach of working that was unique to Ireland, which it called ‘clan culture’. This is where organisations that otherwise would be competing with each other, meet to share best practice, or advice with their peers.“This is around how people actually just get together and are willing to work together in a very open way,” says Domhnall Carroll, CEO of Digital Manufacturing Ireland. “When you look at different environments, that can be a kind of ‘us and them’ perspective of how you manage a project. In Ireland, it's very much a case of ‘we all have to succeed together.”
“We know we're always on the world stage, we’re always on show. And the best way to do a good job there is to make sure we're getting the best of knowledge that we possibly can. The MIT researchers picked out this aspect. They weren't looking for differentiators, nor was this one of the outcomes of the survey or the study work. They said you don't see that in other countries to the same degree,” Carroll says.
And we draw upon the knowledge and experience of those who have been there before, making introductions and facilitating discussions to make the investment decision easy, and to provide a welcome like no other in the world.IDA Ireland takes this same approach, working quickly and efficiently to help clients move from initial contact to closing a deal to set up in Ireland, building trust with them along the way.
IDA Ireland CEO Michael Lohan adds: “IDA Ireland excels in swiftly and efficiently guiding clients from initial contact to deal closure, fostering trust throughout the process and from the very first interaction. Leveraging the expertise of seasoned professionals, we facilitate connections and discussions to ensure a seamless investment decision and a heartfelt welcome to Ireland that is unique to us.”