In 2022 Ireland attracted 242 investments from clients of IDA Ireland, more than half of which (52 per cent) were directed towards regional locations. Regional success can be attributed to a “clustering effect” within key industries enabling specific areas to flourish as centres of excellence.
Various centres of excellence have emerged across Ireland, such as the tech hub in Dublin, medtech in Galway, digital and pharmaceuticals in Cork, and advanced manufacturing in Limerick.
NetApp is known as a data management expert company. Last year it set up its international headquarters in Cork but it employs a model where employees can be located anywhere in the country while being ultimately attached to the operation and main offices in Cork.
Choosing to base its operation in Cork was not a slight decision: James McCowan, NetApp senior director, finance EMEA and LATAM, says a lot of research and investigation lay behind it.
Why an SSE Airtricity energy audit was a game changer for Aran Woollen Mills on its net-zero journey
Getting solid legal advice early in your company’s journey is invaluable
Water pollution has no one cause but many small steps and working together can bring great change
Empowering women in pharma: MSD Ireland’s commitment to supporting diverse leadership
“We worked with the IDA and other Government organisations before deciding on Cork. We had a number of objectives, including looking at the talent base available to our company,” says McGowan.
NetApp opened in 2022 and is targeted to grow to 500 employees by 2025. It has located its offices on the waterfront in the city centre, which offers multiple transport options for employees.
“We are looking to build a hybrid model for our people so they can come and collaborate in the office and it is important to be central for ease of access,” adds McGowan.
Cork boasts 90-plus tech companies and more than 50,000 employees in the sector; the city also produces around 18,000 graduates each year.
“Cork offers a good commercial infrastructure, global connectivity and a relative ease of doing business. We definitely agreed it was the right place for us now and into the future,” says McGowan. “The strategic decision was very focused on the long-term vision of our company to benefit our customers and global teams for many years to come.”
NetApp has chosen to engage with universities in the region in tandem with establishing its HQ.
“We are very proactive in seeking relationships with universities across Ireland, not just Cork,” adds McGowan. “We are looking to partner with local Munster universities across a number of faculties to ensure that our candidates coming out are industry ready or as industry ready as we can get them.”
Cybersecurity is a key area for NetApp and its customers and the company plans to offer insight into upgrading curriculums to ensure that what job candidates study is as up to date as possible.
McGowan acknowledges that the arrival of a new company can have an effect on the business environment within the sector.
“Often there is a reaction to the ‘new shiny thing’ and we have definitely fished in the existing talent pool,” he admits. “But we’ve also brought in new talent, so that expands the local talent skill sets. We have a very strong offering for potential employees – from early career people to mid-career professionals.”
Ireland in general can offer attractive financial inducements for companies to settle here, from research and development tax incentives to specific grants for discrete projects. There are also educational payments for training people.
“All of the above available grants also make a difference,” says McGowan.
Citi first opened its doors in 1965, making it the first US bank to arrive in Ireland, and its Dublin office is the headquarters of Citibank Europe plc. Citi’s Dublin facilities are located in the IFSC but will move to new purpose-built premises at Waterfront South Central on the North Docks by 2026. Almost 3,000 people are employed at the US bank here; country head for Ireland Davinia Conlan attributes its growth to the talent available.
“Ireland is also well positioned geographically for access to the EU. We’re English speaking, operate in a common-law jurisdiction and, of course, the tax incentives have been a factor too,” she adds.
By arriving early Citi could be said to have created its own talent pool and career pipeline in Ireland, which has led other US companies to follow suit. Over the years it has built strong partnerships and collaborations with Irish universities.
“For example, we work with the Institute of Bankers in UCD to create a course on operational risks,” says Conlan. “These collaborations between industry and academia means that students are accessing real information and instruction on risk roles and data – ensuring they are industry ready when they graduate.
“This is really important to us as we are looking to the future in terms of skill sets and talents that we need – so it’s great that we can provide concrete input into academia.”
Being in Dublin also means Citi is close to many of its clients. Through the American Chamber of Commerce Ireland (AmCham) Conlan and her team have fostered strong partnerships and collaboration with other US companies.
“Being part of this cluster of US companies is very important,” says Conlan. “We collaborate on areas of common interest. We can advocate on areas such as policy change, law changes etc. The connection with other US peers is very powerful and it’s also important that they are all very much on our doorstep here in Dublin.
“The chamber also organises many networking events and mentoring opportunities. I have to commend them for their ongoing activities and energy.”
McGowan and Conlon both agree that such AmCham initiatives are beneficial in terms of looking at common lobbying issues and making professional connections.