Clare was one of the most favoured places in Ireland last year for foreign companies looking to invest in Ireland.
While there was a significant fall in the number of IDA-sponsored site visits here last year, as a result of the pandemic, strong interest was still expressed in this county.
In all the IDA hosted 16 site visits to Clare last year, although seven of these were e-visits, conducted remotely as a result of COVID-19.
This is down from 28 in 2019, but three more than the figure recorded a year earlier.
It’s also a stronger figure than most other counties because, while COVID led to a signficant reduction in the overall number of visits, only Dublin, Limerick, Galway and Cork registered a higher number than the Banner.
While the across-the board reduction in site visits comes as a result of the pandemic, IDA Ireland has told Clare FM that it will continue to market Clare and the Mid West as a location for Foreign Direct Investment.
However, it warns, that competition for FDI has been further intensified by the pandmic, and by countries seeking investment to drive their recoveries.
The state agency says all local stakeholders have an important role to play in making Clare and the Mid West region as attractive as possible.
Statement from IDA Ireland
Regional Development remains a core pillar of IDA Ireland’s new strategy Driving Recovery & Sustainable Growth 2021 – 2024 alongside Growth, Transformation, Sustainability and Impact.
47% of IDA Ireland’s client base, 755 clients, are located in the regions, employing 144,689 people, which is 56% of overall FDI employment.
IDA Ireland’s focus on regions continues to pay off and it is most encouraging that investment continued at this level into the regions in 2020, despite the upheaval caused by the global pandemic.
Our focus on regions will continue in our new strategy – our objective is to win half of the 800 target investments for regional locations.
IDA Ireland will continue to market Clare and the Mid West as a location for Foreign Direct Investment. However, it’s important to note that Ireland is a small country competing globally for investment. As countries seek investment to drive their recoveries, it has further intensified what was already fierce competition to win FDI investment. Companies that are investing into our regions are interested in talent, track record, infrastructure, access & connectivity, proximity to third-level educational institutes – they are not taking decisions based on county boundaries. All local stakeholders have an important role to play in making Clare and the Mid West region as attractive as possible.
IDA Ireland is currently operating a ‘virtual first’ policy with itineraries now being successfully delivered remotely. Organised through a series of meetings via online meeting platforms such as Zoom or Microsoft Teams, IDA Ireland executives use digital marketing tools, videos and feature client tours of locations and property solutions as well as presentations from different stakeholders, i.e. recruitment consultants, universities and IoTs, and testimonials from representatives of client companies already established in Ireland.
In 2020, IDA Ireland coordinated nine in-person site visits and seven E-site visits to Clare.
Live, in-person itineraries are obviously curtailed at this time but will resume when travel restrictions and social distancing requirements are lifted.
IDA Ireland continues to collaborate with key stakeholders in the Mid West to ensure that the region is marketing effectively from a placemaking perspective in the current virtual environment.
The Mid West Region has an impressive base of existing FDI companies across key industry sectors, with recent investments of scale in Technology, Life Sciences and International Financial Services.
Under the Regions pillar of Delivering Sustainable Growth and Recovery, IDA will collaborate with clients and stakeholders to facilitate remote working opportunities.
IDA Ireland’s regional and sectoral implementation plans will include a focus on the opportunities to leverage remote working as a way of creating jobs and advancing regional development.
IDA will engage with clients and identify opportunities to promote the uptake of remote working with a view to supporting regional job creation.
IDA Ireland will develop a specific value proposition for remote working projects, which have the potential to stimulate regional growth, widen the available talent pool, lessen capacity pressures in cities, promote better work-life balance and support the green transition.
Throughout our previous strategy Winning 2015-2019 we have seen strong growth in home and hub-based employment, from companies like Apple, Amazon, Shopify and Wayfair and recent announcement for open locations roles including; IQVIA, Medallia and Genesys.
