FDI model can’t just be based on our tax rate

The key to Ireland’s future is to build a sustainable diversified economic model, and not end up putting most of our eggs in one basket, as we did in the not too distant past.

Sectors such as agri-food, tourism, fisheries, indigenous medical devices and IT companies, and the arts can all play a significant role in Ireland’s future if properly managed. The sector I have ignored thus far is the foreign-owned sector.

The facts about foreign direct investment in Ireland are very impressive. At the end of 2013, the IDA had more than 1,100 client companies in Ireland, directly employing 161,112 people.