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LinkedIn One Of Many Leaders Eyeing Expansion In Ireland
LinkedIn has become the latest leader in its field to announce it is expanding in Ireland, committing to increase its headcount by 800 by Summer 2020. The world's largest professional social network has signed a lease with IPUT plc for a new 150,000 sq ft development at One Wilton Park, Dublin.
Welcoming the announcement, Ireland's Minister for Business, Enterprise, and Innovation, Heather Humphreys, said:
"I am delighted to see this announcement from LinkedIn which reaffirms their commitment to Ireland and Dublin’s position as the Digital Capital of Europe. I would like to wish the company well and look forward to our mutually beneficial relationship continuing to develop in the years ahead."
The announcement comes as IDA Ireland, the Government's inward investment promotion agency, reported Ireland saw strong company formation and investment figures for the first half of the year.
According to the agency, over 80 projects and 5,300 jobs have been approved since June 2016 specifically related to Brexit. During the first six months of the year investments that would create 13,500 jobs were also approved — a 19% jump on last year's result.
There was particular interest in Ireland from firms in the technology, financial services, life sciences, and engineering sectors in particular.
“The IDA’s mid-year results for 2019 demonstrate the strength of foreign direct investment in Ireland. Overseas firms are continuing to invest and expand here, creating new jobs across the country."
"At a time of strong economic growth and almost full employment, it would be easy to become complacent – something that happened during the boom years. This Government is determined to make sure that this doesn’t happen again."
"It’s why we launched Future Jobs Ireland in March, a new whole-of-government plan to answer the future needs of our businesses and workers. The plan is about preparing now for tomorrow’s world so that we can stay ahead of the curve and retain our pro-enterprise environment for investors both foreign and indigenous."
Martin Shanahan, IDA Ireland CEO, said: “As we come to the end of our current Winning strategy, we are on course to have won record numbers of investments into Ireland."
"This strategy set very ambitious targets for achieving growth in the regions. Over the last four years, the whole agency has been focused on securing investment for areas outside Dublin. We have achieved some remarkable investments in the first half of 2019. For example, Meissner committing to create 150 new jobs in Castlebar; Valeo investing EUR44m and creating an additional 50 jobs in Tuam; GrandPad setting up its European HQ in Gorey with the creation of 75 new jobs; JRI America adding 100 new roles at its Technology Centre in Tralee; Allergan creating 63 new roles in Westport; and J&J Visioncare creating an additional 100 new roles at its facility in Limerick."
International tax rules are evolving. Ireland is continuing to take an active role in shaping these discussions and is ensuring that it continues to comply with the best international standards.
A key element of international reform efforts is ensuring that a company's access to a country's tax regime aligns with real economic substance in a territory.
The decision of LinkedIn and many others to base their investments in Ireland shows both that Ireland's strategy for promoting FDI is working, and that multinationals still consider Ireland to have a best-in-class tax regime — one that they are keen to ensure continued access to by building upon their operations here.