Corporate tax rate key for new company

Ireland's low corporate tax rate has been cited as a key reason in the decision of a US multinational company, setting up its base in Shannon, Co Clare.

170 new jobs have been announced today in a joint partnership between US Multinational Zagg, which manufactures accessories for mobile devices, and local company Cregg Logistics.

The firms intend to create a total of 300 positions within the next four years.

Speaking to Clare FM, Managing Director of Zagg International Distribution Brian Packer said that while it wasn't the only factor in their decision, Ireland's competitive corporate tax rate was a distinct advantage.

"To be honest with you, when we first started doing our homework, we weren't even aware of that," he said.

"We were looking for countries that were good at logistics and that were good at getting things through customs.

"Ireland rated fairly high in that direction, and then it almost the icing on the cake when they were able to tell us: 'Oh and by the way, we offer a fantastic corporate tax rate', that sealed the deal."