Infrastructure and Facilities
Cork's Competitive Edge
Foreign investors point to the 'can do' attitude and flexibility of the Irish work force as a major advantage. Cork is no exception in this respect. Its citizens have every reason to feel energized and optimistic. In just a few years, they have seen their city and county leap forward to become the standard bearer for Irish industry in pharmaceuticals and healthcare, with significant clusters of internationally-traded services and of information and communication technologies.
No two businesses have identical priorities when scouting for locations. Inevitably, it's a delicate balancing act guided by the principles of practicality and profit. But, whatever criteria you apply, we believe you'll find Metropolitan Cork hard to beat. We've spoken to investors who have already chosen it as their location and this section of our guide provides a checklist of indigenous benefits that influenced their decisions.
Investors target Metropolitan Cork for the following reasons:
- Attractive Corporation Tax rates, currently 12.5%
- A new scheme of tax credits for Research and Development Activity
- A tax regime which encourages the establishment of Corporate Headquarters and Holding Companies
- Membership of EMU (Euro Zone) - the sole English-speaking member
- Extensive Business Support Systems
- Established Sectors of Excellence
- Excellent Infrastructure, including an International Airport
- Substantial Designated (tax efficient) Sites and a range of High Quality Property Solutions
- Outstanding Natural Deepwater Port with Extensive Waterfront Access
- Ireland’s second largest population base
- A Major Growth Centre
- University City with 30,000 third level students
- Large Resource of Skilled People and Highly Qualified Graduates
- Exceptional Quality of Life
The Cork Region, then, has a number of strategic advantages that continue to be translated into further opportunities for economic growth and development. Your business will have access to first-class transport and travel infrastructure as well as excellent broadband connectivity, not to mention third-level institutions for skilled workforce and wold-class research and development.
The Cork Region is served by a recently developed Metropolitan Area Network (MAN), which guarantees carriers and clients connecting to some 110km of fibre optic cable, hi-speed broadband connectivity. A large number of telco and broadband providers operate in the area, providing competitive pricing for a range of connectivity solutions.
Cork’s well-integrated transport infrastructure is a key factor in maintaining its competitive business edge.
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Following major investment, Cork's infrastructure has been significantly enhanced, with inter-city and commuter trains, an excellent motorway network and a new international airport terminal flying millions of passengers on a wide choice of airlines to 50 destinations worldwide. Major docklands development is also underway. Ferries, passenger and cargo, ensure that Cork is connected by sea to the UK and Europe. Travel and transport by road, rail, air and sea in and out of Cork has never been more convenient. [Cork-Midleton Rail Line Opens, Irish Examiner, 31 July 2009]
Investment and development highlights include:
- Cork International Airport complete with €140-million makeover, handled over three million passengers in 2008 – with scheduled flights every day to 42 UK and European destinations
- Cork’s deepwater port has been developed into a world-class facility – the country’s natural gateway to Europe and the only port in the country that provides a deep-sea ro-ro service to destinations in Scandinavia, the Mediterranean and West Africa
- The newest fleet of trains in Europe run hourly between Cork and Dublin – and track upgrades will mean the trip will take just over two hours
Metropolitan Cork places a high value on infrastructure. This is a region that recognises the need to maintain, up-date and expand its multi-layered transport and communications network on an on-going basis.
For more information on relocating to or investing in Cork, email info@corkmarketingpartnership.ie or telephone +353 (0) 21 4317895.