Back in 1956, IBM became the first American technology company to set up an Irish subsidiary in Dublin. Its executive team clearly saw a golden opportunity in the country, but even they would have struggled to imagine what would follow. Ireland now has a $50 billion digital economy which, according to Technology Ireland, accounts for 13% of the country’s GDP.
Today, the Emerald Isle is home to nine of the top 10 US technology and software companies, including Apple, Microsoft, Alphabet, Amazon and Meta. Apple alone employs 6,000 people in Ireland, a workforce that has doubled over the past five years.
That kind of explosive growth is nothing new in Ireland – its historic ‘Celtic Tiger’ period began back in the 1990s, and the country has since become a compelling destination for the world’s most innovative companies, reaching far beyond tech. According to Ireland’s Central Statistics Office, foreign-owned multinationals accounted for 71% of the country’s total turnover (€921 billion) in 2022, despite representing only 3.2% of companies overall.
Other sectors contributing to these eye-catching figures include pharmaceuticals and life sciences. Ireland hosts 19 of the top 20 global pharmaceutical companies and 18 of the top 20 medical device firms. Leaders in these spaces include Novartis, Pfizer and Johnson & Johnson. The country is now the world’s third-largest pharmaceuticals exporter, with annual exports of over €80 billion.
And while some media may choose to focus on the perception of Ireland being used purely for tax reasons, the reality is that these companies have huge physical presence in the country, employing over 600,000 people and consistently being the largest tax contributors. It’s also worth noting that Ireland is the sixth-largest FDI investor into the United States and holds the number one position on a per capita basis.
A compelling proposition
All of which begs the question: what is driving so many of today’s most innovative companies to Ireland?
In short, the country has a huge amount to offer. Take its education system. Tech and pharma are hugely competitive and knowledge-intensive fields, where success hinges on attracting the brightest talent. Ireland’s workforce is often described as among the best-educated in the world. In the CBRE’s Global Tech Talent Guidebook 2025, Ireland had the highest educational attainment rate, with 52.4% of residents aged 25 or over holding a bachelor’s degree or higher.
Ireland also boasts the highest level of STEM graduates per capita among 20 to 29-year-olds in all of the EU. What’s more, the country’s education system has been built in lockstep with industry, designed to ensure it can foster the most relevant skills for a fast-moving working world.
In terms of infrastructure, Ireland is built for innovation, offering advanced telecoms and broadband infrastructure with high-capacity connectivity, plus an active commitment to sustainable energy.
Many companies will also be attracted by the ease of doing business. Ireland is one of the most efficient places to set up a company. It boasts light-touch bureaucracy, so running and altering those entities is straightforward too. And, crucially, it’s an EU member state. So, as well as being English-speaking and located in a favourable time zone, Ireland provides easy access to multiple markets and a labour force of 250 million people.
Then there’s the tax rate. At 12.5% for trading companies, it’s highly favourable and one of the lowest in the EU, while adhering to international standards. Ireland also boasts an extensive network of double tax treaties. With over 70 agreements, it helps to minimise double taxation and offers other tax advantages for global businesses.
Welcome with open arms
But there’s another compelling factor luring the world’s leading companies to Ireland – the country clearly wants them to come, as evidenced by the bountiful support offered by its public bodies.
IDA Ireland is the agency responsible for attracting inward foreign direct investment to the country. To date, it has helped 1,700 companies to set up and expand their operations here, offering a suite of funding and grant options to help with capital investment, talent acquisition, R&D, competitiveness and sustainability.
It also offers companies assistance with things like branding and infrastructure, and partners with industry bodies and international firms to offer specialised skills training, including in digital technologies, life sciences and manufacturing.
Another organisation offering key help to companies is Enterprise Ireland, Europe’s most active private equity venture capital investor. Enterprise Ireland helps businesses of all sizes to improve their operations and expand their global footprint. Companies supported by the organisation currently employ over 230,000 people in Ireland.
Skillnet Ireland also offers grant assistance and training resources for companies of all sizes in the country. Funded from the National Training Fund, it has received international recognition as a best practice model from the EU, the OECD and the International Labour Organization.
But there are also plenty of other avenues for support, including numerous business hubs. Take Galway’s Platform94, for example, a regional hub for ambitious tech businesses that provides access to the networks, knowledge, funding and other support needed to scale internationally. Launched by Galway Chamber of Commerce in 1994, Platform94 has so far supported over 300 companies, enabled the creation of 3,500 jobs and added an estimated €1.9bn in GVA.
Here to help
With such an enticing proposition, access to talent and impressive support and funding networks, it’s hardly surprising that so many heavy-hitting multinationals in tech, pharma and life sciences have made a home in Ireland.
Yet while the country has been remarkably proactive in making establishing a business as straightforward and seamless as possible, it’s still essential that all the correct steps are taken.
If you’re interested in taking advantage of everything Ireland has to offer, Hawksford can support you with your expansion plans. Our experienced Dublin team can offer expert guidance on establishing your business in Ireland, from legal registration with the Companies Registration Office to ensuring alignment with the country’s regulations.
We can then be your partner as you grow, providing ongoing support including corporate secretarial, tax filing and accounting services, ensuring compliance with local legislation and market best practice.
All of which leaves you unburdened and free to explore the many benefits of Ireland, now and in the future.
For more information on Ireland and how Hawksford can help you to relocate, please get in touch.
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