Tech Companies Expanding in Ireland
By Adam Farley, Assistant Editor
June / July 2014
A new report on the technology sector in Ireland suggests that the industry is poised for continued growth over the coming year, with the majority of businesses planning on expanding within the next 12 months. The study, which was commissioned by Allied Irish Banks and carried out by Amárach Consulting in partnership with the Irish Internet and Software Associations, also found that more than three quarters of technology businesses in the Republic increased their profit margins over the last year.
AIB’s Head of Business Banking Ken Burke told RTÉ this demonstrates that “start-ups and SMEs in the technology sector are poised for major expansion and job creation,” while also making clear that the banks must do what they can to support that growth.
While the report mainly focused on smaller companies, big tech companies like Intel are also expanding. Over the last three years, Intel has invested $5 billion upgrading its Leixlip plant in Co. Kildare, which employs 4,500 people directly.
Intel has employed a workforce in Ireland for 25 years and to date has invested roughly $12.5 billion in the country, the largest private investment in the history of Ireland. Speaking on the announcement, Taoiseach Enda Kenny called it a “red letter day” for Ireland, according to The Irish Times. “Companies invest when they have confidence in the workforce.”