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$5bn Intel Investment a vote of confidence in Ireland - Tánaiste

 

Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore, T.D., speaking at the Intel plant, Leixlip, Co. Kildare, made the following statement in relation to Intel's investment:

"I would like to congratulate the management and staff of Intel Ireland on the announcement today of the $5b investment made in its operations here in Leixlip.

This significant investment is not only a vote of confidence in the talent and the performance of the team here, but also in Ireland, in its recovery, and in its future.

Intel first came to Ireland in 1989. The relationship that has developed over the past twenty-five years is one that has been, I believe, hugely beneficial both to Intel, and to Ireland.

Intel currently employs 4,500 people directly, and already makes an enormous contribution to the local and national economy. In turn, Ireland has provided a dedicated, talented, innovative workforce, who have made this one of the most successful manufacturing plants in the sector. The development in Ireland of the Quark X1000 chip, unveiled last year, is just the most recent example of that mutually beneficial relationship.

Today’s announcement marks a new phase in the partnership between Intel and Ireland, and one that speaks to our shared future.

And it is a bright future. Our country, and our people, have worked hard; have sacrificed much; and have contributed much, to bring our country from a period of profound crisis, to one of growing confidence. That confidence is clear among investors in Ireland, who are continuing to expand their operations here, and to establish new ones. It is clear among the employers who created 61,000 net new jobs last year. And it is clear among those who are investing in Irish bonds.

But for this Government, economic recovery has never been an end in itself. Our number one priority has always been what recovery delivers for our people. That means not just jobs, but good quality jobs, and sustainable jobs.

That is why our focus has not only been on the immediate conditions for recovery, but on the reforms that will enhance our competitiveness. In particular, the reforms that will enhance the skills and adaptability of our workforce, such as the establishment of a new skills agency, Solas.

Because, as Intel’s long and productive history – and its exciting future – in Ireland demonstrates, Ireland is an attractive location for innovative, high-tech companies for far more reasons than its competitive corporate tax rates. Companies stay in Ireland because of the supportive business environment, and the hard-working, talented and skilled workforce, that they find here. Intel has been in Ireland for a generation; we want it to be employing Irish people a generation from now.

Given Intel’s significant investment in Ireland over the past twenty-five years – 12.5 billion dollars in capital investment – I believe that this is a shared objective, and look forward to continuing our long and rewarding partnership".

 

ENDS

Press Office

27 March 2014