Editing IDA Ireland

{{Short description|Semi-State body concerned with foreign direct investment into Ireland}}
{{Infobox government agency
| name                 = IDA Ireland
| native_name          = {{lang|ga|An Ghníomhaireacht Forbartha Tionscail}}
| native_name_a        = 
| native_name_r        = 
| type                 = [[State Agencies of the Republic of Ireland|State Agency]] of the [[Department of Enterprise, Trade and Employment]]
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| formed               = {{Start date and age|1949}}
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| dissolved            = 
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| agency_type          = 
| jurisdiction         = [[Republic of Ireland|Ireland]]
| status               = 
| headquarters         = Three Park Place, Hatch Street, [[Dublin]]
| coordinates          = {{coord|53.33360|-6.26058|display=inline,title}}
| motto                = 
| employees            = 
| budget               = 
| minister_type        = Minister
| minister1_name       = [[Peter Burke (politician)|Peter Burke]]
| minister1_pfo        = [[Minister for Enterprise, Trade and Employment]]
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| chief1_name          = Michael Lohan<ref>{{cite web | url=https://www.idaireland.com/latest-news/press-release/ida-ireland-announces-appointment-of-new-ceo-michael-lohan | title=IDA Ireland Announces Appointment of new CEO – Michael Lohan }}</ref>
| chief1_position      = [[CEO]]
| chief2_name          = [[Feargal O'Rourke]]
| chief2_position      = [[Chairman]]
| parent_department    = [[Department of Enterprise, Trade and Employment]]
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| website              = {{URL|https://www.idaireland.com}}
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'''IDA Ireland''' ({{langx|ga|An Ghníomhaireacht Forbartha Tionscail}}) is the agency responsible for the attraction and retention of inward [[foreign direct investment]] (FDI) into [[Republic of Ireland|Ireland]]. The agency was founded in 1949 as the '''Industrial Development Authority''' and placed on a [[statutory]] footing a year later. In 1969 it became a non-commercial autonomous state-sponsored body.<ref>{{cite web|url=http://www.audgen.gov.ie/viewdoc.asp?fn=/documents/entities/noncom.htm|title=Entities audited by the Comptroller and Auditor General|publisher=Comptroller and Auditor General|date=2008|access-date=2019-05-21|archive-url=https://web.archive.org/web/20180615214401/http://www.audgen.gov.ie/viewdoc.asp?fn=%2Fdocuments%2Fentities%2Fnoncom.htm|archive-date=2018-06-15|url-status=live}}</ref> Today it is a [[state-sponsored bodies of the Republic of Ireland|semi-state body]] that plays an important role in Ireland's relationship with foreign investors, with multinationals accounting for 10.2% of employment and 66% of Irish exports.<ref>{{cite web |url=https://www.cso.ie/en/releasesandpublications/ep/p-fdi/fdi2015/ae/ |title=Foreign Direct Investment in Ireland 2015 |author=<!--Not stated--> |agency=Central Statistics Office |access-date=19 October 2018 |archive-url=https://web.archive.org/web/20181019205639/https://www.cso.ie/en/releasesandpublications/ep/p-fdi/fdi2015/ae/ |archive-date=19 October 2018 |url-status=live }}</ref><ref>{{cite web |url=http://www.oecd.org/investment/IRELAND-trade-investment-statistical-country-note.pdf |title=International trade, foreign direct investment and global value chains: Ireland: Trade and investment statistical note |author=<!--Not stated--> |date=2017 |agency=Organisation for Economic Cooperation and Development (OECD) |access-date=19 October 2018 |archive-url=https://web.archive.org/web/20180410201752/http://www.oecd.org/investment/IRELAND-trade-investment-statistical-country-note.pdf |archive-date=10 April 2018 |url-status=live }}</ref> The agency partners with investors to help them to begin or expand their operations in the Irish market. It provides funding support to [[research and development]] projects, and has a number of direct support mechanisms, including employment and training grants.<ref>{{cite web|url=https://rio.jrc.ec.europa.eu/en/organisations/ida-ireland|title=IDA Ireland|publisher=European Commission Research and Innovation Observatory|access-date=16 October 2018|archive-url=https://web.archive.org/web/20181016165150/https://rio.jrc.ec.europa.eu/en/organisations/ida-ireland|archive-date=16 October 2018|url-status=live}}</ref>

==History==
In the years following World War II, Ireland began moving towards a more open economic model, away from the old model characterised by [[import substitution industrialization|import substitution industrialisation]].<ref>{{cite speech | title=Irish Economic History & Lessons for the Future | first=Ronan |last = Lyons | date=4 March 2016 | location=Dublin, Ireland | url=https://igees.gov.ie/wp-content/uploads/2016/03/Irish-Economic-History.pdf | access-date=26 October 2018 | archive-url=https://web.archive.org/web/20180425153633/http://igees.gov.ie/wp-content/uploads/2016/03/Irish-Economic-History.pdf | archive-date=25 April 2018 | url-status=live }}</ref> As part of this wider push, the Minister for Industry and Commerce at the time, [[Daniel Morrissey]], proposed the creation of a body to advise the government on [[industrial policy]].<ref name="Donnelly Taiwan">{{cite conference | first=Paul | last=Donnelly | title=Institutionalizing Industrial Development: The Cases of Ireland and Taiwan | format=pdf | conference=Island vs. Empire: Taiwan, Hong Kong, and Ireland in Comparative Perspective | pages=1–29 | date=2014 | location=Taiwan | url=https://arrow.dit.ie/cgi/viewcontent.cgi?referer=https://www.google.com/&httpsredir=1&article=1135&context=buschmarcon | access-date=26 October 2018 | archive-url=https://web.archive.org/web/20181027021622/https://arrow.dit.ie/cgi/viewcontent.cgi?referer=https%3A%2F%2Fwww.google.com%2F&httpsredir=1&article=1135&context=buschmarcon | archive-date=27 October 2018 | url-status=live }}</ref> The Industrial Development Authority was created to fill this role in 1949.<ref name="Donnelly Taiwan" />

Throughout the 1950s, the IDA established its vision of 'industrialisation by invitation,' one which initiated the low corporation-tax system that remains in place in Ireland today.<ref name=":0">{{Cite journal|last1=Barry|first1=Frank|last2=Ó Fathartaigh|first2=Mícheál|year=2015|title=The Industrial Development Authority, 1949–58: establishment, evolution and expansion of influence|url=http://journals.cambridge.org/abstract_S0021121414000042|journal=Irish Historical Studies|volume=39|issue=155|pages=460–478|doi=10.1017/ihs.2014.4|s2cid=155030699|url-access=subscription}}</ref> According to an article in a U.S. law journal in 1984, the IDA is 'probably the most powerful governmental agency in Ireland,' as it 'acts as both coordinator and lobbyist for all matters relating to manufacturing and service industries as well as the industrial infrastructure.'<ref name=":0" />  IDA Ireland has a large global network of branches/offices in the U.S., Europe, and Asia.

==Governance and funding==
While IDA Ireland gets its funding from the Irish State (with costs circa €48m in 2017), as an autonomous non-commercial state-sponsored body, it maintains its own independent board and governance.  IDA Ireland is authorised to issue grants and financial incentives to firms coming to Ireland (paying out €91 million in 2017).<ref>{{cite web|url=https://www.idaireland.com/IDAIreland/media/docs/About-IDA/IDA_Annual_Report_2017.pdf|title=IDA Ireland 2017 Annual Report|publisher=IDA Ireland|date=2008|access-date=2018-06-15|archive-url=https://web.archive.org/web/20180615214549/https://www.idaireland.com/IDAIreland/media/docs/About-IDA/IDA_Annual_Report_2017.pdf|archive-date=2018-06-15|url-status=live}}</ref>

==Successes==
The IDA has been successful in attracting multinationals to Ireland over decades. As of 2018, foreign multinationals pay 80% of all Irish corporate taxes,<ref name="rev">{{cite web|url=https://www.revenue.ie/en/corporate/documents/research/corporation-tax-returns-2016.pdf|title=An Analysis of 2015 Corporation Tax Returns and 2016 Payments|publisher=Revenue Commissioners|date=April 2017|access-date=2018-06-15|archive-url=https://web.archive.org/web/20171128143457/https://revenue.ie/en/corporate/documents/research/corporation-tax-returns-2016.pdf|archive-date=2017-11-28|url-status=live}}</ref> directly employing 25% of the Irish labour-force,<ref name="oecdx">{{cite web|url=http://www.oecd.org/investment/IRELAND-trade-investment-statistical-country-note.pdf|title=IRELAND Trade and Statistical Note 2017|publisher=OECD|date=2017|access-date=2018-06-15|archive-url=https://web.archive.org/web/20180410201752/http://www.oecd.org/investment/IRELAND-trade-investment-statistical-country-note.pdf|archive-date=2018-04-10|url-status=live}}</ref> and are responsible for 57% of the non-farm economic value-add in Ireland (40% of value-add in Irish services and 80% of value-add in Irish manufacturing).<ref name="oecdx"/><ref name="ber"/>  They comprise 14 of Ireland's top 20 firms (including [[tax inversion]]s).  Key "selling points" have been the young, English-speaking, flexible workforce, a strong educational system, commercially-aware third level institutions, a location which allows easy exporting into Europe, and the ability to tap into European talent in the wake of Brexit, and a 'clustering effect' in certain industrial and business sectors.{{citation needed|date=April 2019}}

==Criticisms==
===Narrow base===
The IDA is strongly reliant on the U.S. as a source of FDI.<ref>{{cite journal |last1=Walsh |first1=Keith |date=9 December 2010 |title=The Economic and Fiscal Contribution of US Investment in Ireland |url=http://www.tara.tcd.ie/bitstream/handle/2262/62344/walsh%20pdf.pdf |journal=Journal of the Statistical and Social Inquiry Society of Ireland |volume=XL |pages=33–59 |access-date=19 October 2018 |archive-url=https://web.archive.org/web/20150809041845/http://www.tara.tcd.ie/bitstream/handle/2262/62344/walsh%20pdf.pdf |archive-date=9 August 2015 |url-status=live }}</ref> There are no non-U.S./non-U.K. firms in Ireland's top 50 firms (by revenue), and only one by employees, the German retailer Lidl.  The 14 foreign multinationals in Ireland's top 20 firms are all U.S-based (including [[tax inversion]]s).  The U.K. firms in Ireland, outside of retailers like Tesco who sell into Ireland (also like Lidl), are pre-2009 after which the U.K. changed its tax code (see [[Corporate haven#U.K. transformation|U.K. transformation]]).<ref name="uuu1">{{cite web| url=https://files.taxfoundation.org/legacy/docs/TaxFoundation_FF442.pdf| title=Tax Reform in the UK Reversed the Tide of Corporate Tax Inversions| publisher=Tax Foundation| date=14 October 2014| access-date=15 June 2018| archive-url=https://web.archive.org/web/20180417023458/https://files.taxfoundation.org/legacy/docs/TaxFoundation_FF442.pdf| archive-date=17 April 2018| url-status=dead}}</ref><ref name="uk1">{{cite web|url=https://taxfoundation.org/tax-reform-uk-reversed-tide-corporate-tax-inversions/|title=How Tax Reform solved UK inversions|publisher=Tax Foundation|date=14 October 2014|access-date=15 June 2018|archive-url=https://web.archive.org/web/20190417155717/https://taxfoundation.org/tax-reform-uk-reversed-tide-corporate-tax-inversions/|archive-date=17 April 2019|url-status=dead}}</ref><ref name="uktax1">{{cite web|url=https://taxfoundation.org/united-kingdom-s-experience-inversions/|title=The United Kingdom's Experience with Inversions|publisher=Tax Foundation|date=5 April 2016|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180927112909/https://taxfoundation.org/united-kingdom-s-experience-inversions/|archive-date=27 September 2018|url-status=dead}}</ref>

===Taxation===
Up until 2018, the U.S. was one of the last few global jurisdictions not to run a "territorial" tax system (the U.K. switched in 2009–12).  Jurisdictions with "territorial" tax systems have separate, and much lower, tax rates for foreign-sourced profits, and companies from such places therefore make less use of Ireland as a base.<ref name="her">{{Cite web|title = A Territorial Tax System Would Create Jobs and Raise Wages for U.S. Workers|url = https://www.heritage.org/taxes/report/territorial-tax-system-would-create-jobs-and-raise-wages-us-workers|publisher = The Heritage Foundation|date = 12 September 2013|access-date = 15 June 2018|archive-url = https://web.archive.org/web/20180614194440/https://www.heritage.org/taxes/report/territorial-tax-system-would-create-jobs-and-raise-wages-us-workers|archive-date = 14 June 2018|url-status = unfit}}</ref><ref name="Inversion perversion">{{cite news|url=https://www.economist.com/news/leaders/21608751-restricting-companies-moving-abroad-no-substitute-corporate-tax-reform-how-stop|title=How to stop the inversion perversion|newspaper=[[The Economist]]|date=26 July 2014|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180420193157/https://www.economist.com/news/leaders/21608751-restricting-companies-moving-abroad-no-substitute-corporate-tax-reform-how-stop|archive-date=20 April 2018|url-status=live}}</ref> While the IDA market Ireland as a base from which to sell into Europe,<ref name="ida2">{{cite web|url=https://www.idaireland.com/IDAIreland/media/docs/publications/Taxation_2016.pdf|title=Corporate Taxation in Ireland 2016|publisher=Industrial Development Authority (IDA)|date=2018|access-date=2018-06-15|archive-url=https://web.archive.org/web/20171222040735/https://www.idaireland.com/IDAIreland/media/docs/publications/Taxation_2016.pdf|archive-date=2017-12-22|url-status=dead}}</ref> Despite other features, some commentators see Ireland as a base for U.S. multinationals to shield themselves from the pre-TCJA “worldwide” tax system{{citation needed|date=October 2018}} (Ireland is sometimes described as a [[corporate haven]]).<ref>{{cite web|url=https://www.irishtimes.com/business/economy/ireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401|title=Ireland is the world's biggest corporate 'tax haven', say academics|quote=Study claims State shelters more multinational profits than the entire Caribbean|publisher=Irish Times|date=13 June 2018|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180824044322/https://www.irishtimes.com/business/economy/ireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401|archive-date=24 August 2018|url-status=live}}</ref>

U.S. multinationals aside, Ireland's main attractiveness is for life sciences manufacturing, who have an optimal combination of intellectual property and tangible assets to use Ireland's main [[Corporate haven#IP-based BEPS tools|IP-based BEPS tool]], the [[Double Irish arrangement#Backstop of capital allowances|capital allowances for intangible assets]] scheme (which has an Irish [[Corporation tax in the Republic of Ireland#Effective tax rate (ETR)|effective tax rate]] of <3%).{{citation needed|date=October 2018}} A key IDA Ireland target market is Japan, which is a large global source of life sciences manufacturing enterprises, and also has one of the highest corporate tax rates in the world.<ref>{{cite web|url=https://www.irishtimes.com/news/ireland/irish-news/state-s-ireland-house-in-tokyo-to-cost-almost-23m-1.3534038|title=State's 'Ireland House' in Tokyo to cost almost €23m: New building will be biggest ever capital investment by Department of Foreign Affairs|publisher=Irish Times|date=17 June 2018|access-date=17 June 2018|archive-url=https://web.archive.org/web/20180618003008/https://www.irishtimes.com/news/ireland/irish-news/state-s-ireland-house-in-tokyo-to-cost-almost-23m-1.3534038|archive-date=18 June 2018|url-status=live}}</ref>

===Brexit===
The IDA has listed managing Brexit as a priority in the coming years.<ref>{{cite web|url=https://www.idaireland.com/IDAIreland/media/docs/About-IDA/IDA_Annual_Report_2017.pdf|title=IDA Ireland: Annual Report & Accounts 2017|publisher=IDA Ireland|page=4|date=10 May 2018|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180615214549/https://www.idaireland.com/IDAIreland/media/docs/About-IDA/IDA_Annual_Report_2017.pdf|archive-date=15 June 2018|url-status=live}}</ref> Ireland has been criticised for failing to win substantive London business, and particularly the valuable financial services business, as a result of [[Brexit]].<ref name="Irish Times Brexit">{{cite web|url=https://www.irishtimes.com/business/financial-services/disappointing-number-of-financials-plan-to-come-to-dublin-post-brexit-1.3327469|title=Disappointing number of financials plan to come to Dublin post-Brexit|publisher=Irish Times|quote=Transfers from London mainly going to Frankfurt, Luxembourg, Brussels and Paris|date=28 December 2017|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180714111011/https://www.irishtimes.com/business/financial-services/disappointing-number-of-financials-plan-to-come-to-dublin-post-brexit-1.3327469|archive-date=14 July 2018|url-status=live}}</ref><ref>{{cite web|url=https://www.thetimes.com/world/ireland-world/article/dublin-trails-frankfurt-and-paris-in-brexit-finance-jobs-race-hgjrcgn5n|title=Dublin trails Frankfurt and Paris in Brexit finance jobs race|publisher=Sunday Times|date=19 September 2017|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180615004440/https://www.thetimes.co.uk/article/dublin-trails-frankfurt-and-paris-in-brexit-finance-jobs-race-hgjrcgn5n|archive-date=15 June 2018|url-status=live}}</ref><ref>{{cite web|url=https://fora.ie/lloyds-eu-base-dublin-brussels-3314567-Mar2017/|title=Lloyd's snubs Dublin for its EU base as the capital drops in world financial centre ranks. US insurance giant AIG also overlooked Ireland for its regional HQ.|publisher=FORA|date=30 March 2017|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180615004344/https://fora.ie/lloyds-eu-base-dublin-brussels-3314567-Mar2017/|archive-date=15 June 2018|url-status=live}}</ref> However, the IDA has been credited with achieving limited success in the face of housing and infrastructure shortages and regulatory hurdles,<ref name="Irish Times Brexit"/> and a 2018 S&P Global Market Intelligence study found that Germany and Ireland were the leaders in attracting financial businesses relocating from London.<ref>{{cite web | url=https://www.thebanker.com/Banker-Data/Bank-Trends/Germany-Ireland-winning-race-for-UK-Brexit-business | title=Germany, Ireland winning race for UK Brexit business | last=Myles | first=Danielle | date=17 April 2018 | publisher=The Banker | access-date=26 October 2018 | archive-url=https://web.archive.org/web/20181026222452/https://www.thebanker.com/Banker-Data/Bank-Trends/Germany-Ireland-winning-race-for-UK-Brexit-business | archive-date=26 October 2018 | url-status=live }}</ref> In the Irish government's 2019 budget, IDA Ireland was allocated €2 million for the purposes of Brexit preparedness and increasing Ireland's "global footprint".<ref name="Budget2019">{{cite web | url=https://dbei.gov.ie/en/News-And-Events/Department-News/2018/October/09102018.html# | title=Minister Humphreys announces record Budget allocation for her Department to help businesses get ready for Brexit, drive regional growth and boost innovation | publisher=Department of Business, Enterprise and Innovation | date=9 October 2018 | access-date=16 October 2018 | archive-url=https://web.archive.org/web/20181016165430/https://dbei.gov.ie/en/News-And-Events/Department-News/2018/October/09102018.html | archive-date=16 October 2018 | url-status=live }}</ref>

==Challenges==
The majority of foreign multinationals in Ireland are also concentrated in a small group of very large technology and life science firms.<ref>{{cite web|url=https://www.independent.ie/business/irish/warning-over-foreign-multinationals-paying-80pc-of-corporate-tax-35471213.html|title=Warning over a hanful of foreign multinationals paying 80pc of corporate tax|publisher=Irish Independent|date=22 February 2017|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180615214551/https://www.independent.ie/business/irish/warning-over-foreign-multinationals-paying-80pc-of-corporate-tax-35471213.html|archive-date=15 June 2018|url-status=live}}</ref><ref>{{cite web|url=https://www.rte.ie/news/business/2017/0621/884543-corporation/|title=20 multinationals paid half of all Corporation tax paid in 2016|publisher=RTE News|date=21 June 2017|access-date=16 June 2018|archive-url=https://web.archive.org/web/20180613234129/https://www.rte.ie/news/business/2017/0621/884543-corporation/|archive-date=13 June 2018|url-status=live}}</ref><ref name="ber">{{cite web|url=https://www.socialeurope.eu/wp-content/uploads/2017/01/p_imk_wp_175_2017.pdf|title=CRISIS RECOVERY IN A COUNTRY WITH A HIGH PRESENCE OF FOREIGN OWNED COMPANIES: Ireland|publisher=IMK Institute Berlin|date=January 2017|access-date=2018-06-15|archive-url=https://web.archive.org/web/20190412082814/https://www.socialeurope.eu/wp-content/uploads/2017/01/p_imk_wp_175_2017.pdf|archive-date=2019-04-12|url-status=dead}}</ref> These firms have the "[[intellectual property]]" (or IP) needed to use Ireland's [[Corporation tax in the Republic of Ireland#Multinational tax schemes|IP-based BEPS tax tools]] (which have [[Corporation tax in the Republic of Ireland#Effective tax rate (ETR)|effective Irish corporate tax rates]] of <3%).{{citation needed|date=October 2018}} Ireland's largest company Apple, post their giant [[BEPS]] inversion in 2015 (see "[[leprechaun economics]]"), now represents circa 25% of Irish GDP.{{citation needed|date=October 2018}} Because of Apple, the [[Central Bank of Ireland]] has had to replace Irish GDP with [[modified gross national income]] (or GNI*).{{citation needed|date=October 2018}}

As well as the beneficial use of Ireland's IP-based BEPS tax tools, and a relatively low corporation tax, there remain a range of other reasons for IDA Ireland's successes, including the English-speaking location to tap into European talent in the wake of Brexit, the highly skilled workforce, and 'clustering effect'.<ref>{{cite news | last=Roughneen | first=Simon | date=10 February 2018 | title=Ireland has become a mecca for U.S. tech companies. Can Trump lure them home? | url=http://www.latimes.com/world/europe/la-fg-ireland-economy-2017-story.html | work=Los Angeles Times | location=USA | access-date=26 October 2018 | archive-url=https://web.archive.org/web/20181231190145/https://www.latimes.com/world/europe/la-fg-ireland-economy-2017-story.html | archive-date=31 December 2018 | url-status=live }}</ref><ref>{{cite web | url=https://www.getreskilled.com/why-ireland-attracts-the-worlds-medtech/ | title=Why Ireland Attracts the World's MedTech | last=Creaner | first=Sinead | date=24 June 2015 | publisher=GetReskilled | access-date=26 October 2018 | archive-url=https://web.archive.org/web/20181026222427/https://www.getreskilled.com/why-ireland-attracts-the-worlds-medtech/ | archive-date=26 October 2018 | url-status=live }}</ref>

With the overhaul of the U.S. tax code under the [[Tax Cuts and Jobs Act of 2017]], and a switch to a "territorial" system, it has been shown the net effective tax rates in the U.S. and Ireland are now almost identical, even with the replacement [[Double Irish arrangement#Replacement by Single Malt|single malt]] system still in place (see [[Double Irish arrangement#Effect of the Tax Cuts and Jobs Act (TCJA)|effect of TCJA on Ireland]]).<ref name="example">{{cite web|url=https://www.scribd.com/document/379498913/Double-Irish-vs-Single-Irish-Post-the-Tax-Cuts-and-Jobs-Act-GILTI-leglislation|title=Reassessing the Beloved Double Irish Structure (as Single Malt) in Light of GILTI|publisher=Taxnotes|date=23 April 2018|access-date=15 June 2018|archive-url=https://web.archive.org/web/20190326121702/https://www.scribd.com/document/379498913/Double-Irish-vs-Single-Irish-Post-the-Tax-Cuts-and-Jobs-Act-GILTI-leglislation|archive-date=26 March 2019|url-status=live}}</ref><ref name="example2">{{cite web|url=https://www.scribd.com/document/379507225/TCJA-US-Multinationals-Winners-and-Losers|title=U.S. Tax Cuts and Jobs Act: Winners and Losers|page=1235|publisher=Taxnotes|date=19 March 2018|access-date=15 June 2018|archive-url=https://web.archive.org/web/20190415115353/https://www.scribd.com/document/379507225/TCJA-US-Multinationals-Winners-and-Losers|archive-date=15 April 2019|url-status=live}}</ref> There is a concern whether Ireland will suffer in such an environment, both in terms of keeping existing U.S. multinationals and attracting more.<ref name="ashoka">{{cite web|url=https://www.independent.ie/business/irish/warning-that-ireland-faces-huge-economic-threat-over-corporate-tax-reliance-troika-chief-36992083.html|title=Warning that Ireland faces huge economic threat over corporate tax reliance - Troika chief Mody says country won't be able to cope with changes to tax regime|quote=And he said the Irish economy won't cope with radical changes to international tax rules, which will dent our attractiveness to multinationals.|publisher=Irish Independent|date=9 June 2018|access-date=15 June 2018|archive-url=https://web.archive.org/web/20180612092114/https://www.independent.ie/business/irish/warning-that-ireland-faces-huge-economic-threat-over-corporate-tax-reliance-troika-chief-36992083.html|archive-date=12 June 2018|url-status=live}}</ref>  This is amplified by Ireland's mid-range competitiveness in most non-taxation related aspects; the country is usually positively cited for ease of doing business, but other aspects are seen as less successful (see, for example, the [[Global Competitiveness Report]], where Ireland typically places in the 20th-25th world ranking range).<ref>{{cite web|url=https://www.independent.ie/business/irish/dublin-overtakes-london-in-most-expensive-cities-to-live-in-36706907.html|title=Dublin overtakes London in most expensive cities to live in|quote=Dublin has overtaken London in a world-wide cost of living ranking because of the Brexit-induced weakening of sterling.|publisher=Irish Independent|date=15 March 2018|access-date=16 June 2018|archive-url=https://web.archive.org/web/20180615004338/https://www.independent.ie/business/irish/dublin-overtakes-london-in-most-expensive-cities-to-live-in-36706907.html|archive-date=15 June 2018|url-status=live}}</ref><ref>{{cite web|url=https://www.independent.ie/business/irish/ida-warning-on-our-competitiveness-36879734.html|title=IDA warning on our competitiveness|publisher=Irish Independent|date=7 May 2018|access-date=16 June 2018|archive-url=https://web.archive.org/web/20180614194639/https://www.independent.ie/business/irish/ida-warning-on-our-competitiveness-36879734.html|archive-date=14 June 2018|url-status=live}}</ref><ref>{{cite web|url=https://www.ft.com/content/b4e15282-d44f-11e7-ae3e-563c04c5339a|title=Tight property supply constraints Dublin's Brexit appeal: Escalating prices and rents prompt anxiety about ability to draw more business|publisher=Financial Times|date=31 January 2018|access-date=16 June 2018|archive-url=https://web.archive.org/web/20180614194945/https://www.ft.com/content/b4e15282-d44f-11e7-ae3e-563c04c5339a|archive-date=14 June 2018|url-status=live}}</ref><ref name="ig2">{{cite web|url=https://www.independent.ie/irish-news/education/no-irish-university-in-the-worlds-top-100-as-the-countrys-higher-education-sector-falls-further-in-global-rankings-36984680.html|title=No Irish university in the world's top 100 as the country's higher education sector falls further in global rankings|publisher=Irish Independent|date=6 June 2018|access-date=16 June 2018|archive-url=https://web.archive.org/web/20180616204403/https://www.independent.ie/irish-news/education/no-irish-university-in-the-worlds-top-100-as-the-countrys-higher-education-sector-falls-further-in-global-rankings-36984680.html|archive-date=16 June 2018|url-status=live}}</ref>

==Plans==
In 2015 the Irish government announced a five-year plan for the IDA aimed at accelerating economic recovery in the country, setting a target of 80,000 jobs by 2019 and investing €150 million in a regional property programme.<ref>{{cite news | last=Beesley | first=Arthur | date=26 February 2015 | title=IDA Ireland aims to provide 80,000 jobs by 2019 | url=https://www.irishtimes.com/business/economy/ida-ireland-aims-to-provide-80-000-jobs-by-2019-1.2117643 | newspaper=The Irish Times | access-date=16 October 2018 | archive-url=https://web.archive.org/web/20181016165356/https://www.irishtimes.com/business/economy/ida-ireland-aims-to-provide-80-000-jobs-by-2019-1.2117643 | archive-date=16 October 2018 | url-status=live }}</ref> This jobs target was reached in 2017.<ref>{{cite news | author=<!--Staff writer(s); no by-line.--> | date=4 January 2018 | title=Despite record jobs growth, IDA warns of risks, including Brexit and US tax changes | url=https://www.rte.ie/news/business/2018/0104/931022-ida-ireland-review/ | publisher=Raidió Teilifís Éireann | access-date=16 October 2018 | archive-url=https://web.archive.org/web/20181016165410/https://www.rte.ie/news/business/2018/0104/931022-ida-ireland-review/ | archive-date=16 October 2018 | url-status=live }}</ref> In its 2019 budget the Irish government allocated an additional €10 million to the property programme to promote regional development.<ref name="Budget2019" />

==See also==
* [[State Agencies of the Republic of Ireland]]
* [[Enterprise Ireland]]
* [[Forfas]]
* [[Irish Business and Employers Confederation|IBEC]]
* [[Shannon Development]]
* [[Corporate haven]]
* [[Global Competitiveness Report]]
* [[Ireland as a tax haven]]
* ''[[The Lonely Battle of Thomas Reid]]''

==References==
{{Reflist}}

==Further reading==
* Rafferty, Colm (2012) ''Fuelled by foreign investment'', Incisive Media Limited

==External links==
* {{Official website|https://www.idaireland.com/}}
* [http://www.enterprise-ireland.com/ Enterprise Ireland]

{{authority control}}

[[Category:1949 establishments in Ireland]]
[[Category:Companies established in 1949]]
[[Category:Department of Enterprise, Trade and Employment]]
[[Category:Economy of the Republic of Ireland]]
[[Category:Government agencies of the Republic of Ireland]]
[[Category:Investment promotion agencies]]
[[Category:Industrial development agencies]]