‘The value of people cannot be underestimated’

According to KPMG managing partner Shaun Murphy, CEOs weigh up the risks and rewards attached to various locations when considering where to invest and the good news is that Ireland scores highly in this regard. But there is absolutely no room for complacency.

“Apart from crunching the numbers relevant to their own unique circumstances, CEOs will also look at issues such as the track record of a particular country or city – who else has chosen that particular location? How long are they there? What levels of investment have they committed to? How attractive is the location for senior management?” he says.

“In other words, if your industry peer group has consistently chosen a particular investment location, then it’s a strong indicator of its appeal. We’ve seen the value of this as particular sectors have clustered in Ireland – whether it be pharma in Cork, medtech in Galway, IT in Dublin etc. These are all relevant themes in influencing investment and they have been used exceptionally well by IDA and others to showcase Ireland.”

He firmly believes the value of people cannot be underestimated in helping influence inward investment decisions in Ireland’s favour. This is not just about selling the qualities of a talented workforce that a business can access if it chooses Ireland, although it is of huge importance of course.

“It’s also very much about the overall experience of Ireland,” Murphy continues. “This includes the quality-of-life experience but also the support offered by State agencies, the efforts and influence of Irish expatriates in places such as the US to make connections and promote Ireland’s appeal and the calibre of our professional services. This highly attractive mix of reasons to choose Ireland needs to be continually refined as a national priority. It requires an all-round effort to avoid complacency, reward enterprise, build stronger linkages to domestic business, and to stay ahead of the competition in understanding the impact of technological change.”