This morning's IDA annual review has confirmed Ireland's place in Europe as a 'knowledge-based' economy, according to Mr Sean Dorgan, chief executive of the IDA.
Developments during 2003, he said, have reinforced the transformation that has been under way in recent years in key competitive features of the economy making it attractive for a new breed of high level projects based on knowledge.
In particular, he said, the establishment of key European resource centres of Google, Overture and eBay/PayPal - all world leaders in their fields - was encouraging other large-scale tech projects to set up in Ireland.
ABB, the global developer of power and automation technologies, has also announced the creation of a new global R&D and marketing centre in Dundalk recently. Ingersoll Rand has also made Ireland the location of choice to carry out their global export sales and service activities.
HVB Bank has decided to spin off its extensive property and real estate portfolio into a new and separate bank based here. Pfizer, the world's leading pharmaceuticals company, also added further strategic activity to their Irish operations in 2003.
Mr Dorgan added that the addition of strategic functions and new R&D investment continue to deepen the roots of overseas companies here with 23 companies and 39 R&D investments adding significant new functions to their operations in Ireland, totalling over €100 million over 2003.
"We [have] also made progress in winning high value investments in regional locations, such as Athlone, Arklow, Dundalk, Loughrea, Roscrea, and Waterford, Mr Dorgan added.
"This year we will have spent over €50 million in our property developments [almost all outside Dublin] to provide the basis for future growth in regions."
Mr Michael Dell, Chairman and CEO of Dell, cited Ireland's 'knowledge-based' economy as the reason Dell has invested so heavily in Ireland. Siemens president and chief executive, Dr Heinrich von Pierer, attributed its involvement in Ireland to high standards in the education system.