Business in Ireland: Good News Stories

Ireland has always been a positive, welcoming space for FDI and Inward Investment. We have been very pleased to see some Good News stories for our economy in recent weeks and days.

AgTech

This week saw exciting gains for AgTech in Ireland, with the news that the Magnetic Spraying Technology firm MagTech raised €6m in funding, led by a Brussels-based investor.

This is set to aid its further expansion, particularly in Research & Development (and in manufacturing).

TikTok

TikTok is set to invest €420 Million in an Irish-based Data Centre, recognising that the Irish market is confident and welcoming and boasts a significant tech workforce.

Ireland’s base at the heart of Europe and this new centre of business is set to positively contribute towards securing and safeguarding customer data.

SMS

With the acquisition of the Cork-based EnergyTech startup Solo Energy, Glasgow’s SMS Plc is investing in a platform which will contribute to smart energy and the advancement of a greener economy and Regional Business Development.

Beyond Tech

Moving slightly away from tech, a positive step for the wider Irish business community has been the announcement of 100 Bio-pharma jobs set to be created in Shannon by MeiraGTx. It is a very welcome development for nearby Limerick and Ireland’s mid-west region.

With roles concentrated on the manufacturing of commercial-grade gene therapies, this good news story shows recognition to the Scientific, Technical and Engineering talent present in the region (and throughout Ireland).

STEM Talent is a key component of Ireland’s workforce, and this wide range of investments into the Irish economy shows the durable & dependable Irish advantage.

These are just some of the positive business & community stories that have featured recently in the Irish market, and we are excited to see what the future will bring.

With thanks to the following helpful links;

https://www.irishtimes.com/business/agribusiness-and-food/nestl%C3%A9-ireland-announce-110-000-investment-in-foodcloud-1.4309237

https://www.thejournal.ie/tiktok-announces-jobs-in-dublin-data-centre-5169093-Aug2020/

https://www.irishtimes.com/business/financial-services/mastercard-s-irish-unit-reports-big-rise-in-revenues-and-profits-1.4323089

https://www.idaireland.com/newsroom/sms-plc-creates-20-jobs-in-cork-following-recent-a

https://www.clareecho.ie/up-to-100-jobs-to-be-created-as-meiragtx-expand-in-shannon/

https://www.idaireland.com/newsroom/eu-tasks-tu-dublin-to-help-create-european-univer

Picture: LK Shields Solicitors LLP