IRELAND and the Mid-West region is more than a location ,it is an ecosystem for the extraordinary, the CEO of the IDA has said.
A comment from IDA Ireland’s CEO, Michael Lohan, at a Shannon Chamber lunch in Dromoland Castle Hotel was most appropriate at a time when commentary is focused on the impact that US-imposed tariffs will have on our economy.
Stating that Ireland is more than a location but an ecosystem for extraordinary, defined by its people and place, stability and support, and its ecosystem and environment, he paid particular focus to the partnership approach, the business-friendly environment and the innovativeness of enterprise, which, he said, is the cornerstone of Ireland’s success in attracting and retaining investment.
In an address delivered the day before the much-heralded liberation day, Lohan did caution that the global race for impactful foreign direct investment has significantly intensified and that the year ahead will be turbulent for the global economy.
He cited the key enabling conditions that Ireland needs to focus on as relative cost competitiveness, planning, infrastructure delivery, talent development and innovation and its incentive offering, and that IDA’s strategy through to 2029 will target opportunities in the growth drivers of digitisation and AI, semiconductors, sustainability, and health.
Delivering good news to the regions, he said that IDA aims to create 75,000 jobs over that time, including delivering 550 regional investments, whilst simultaneously reducing IDA client carbon emissions by 35%, and upskilling 40,000 people.
Addressing the many companies and business groupings in the room, he emphasised the need for collaboration, stating that success in an intensely competitive landscape will require an enhanced focus on partnering impactfully with key stakeholders. “The collective strength that is evident in Ireland is not repeated across the globe. The real benefits will come from collective collaboration”.
In a fireside discussion with Fine Grain Property’s CEO, event sponsor, and director of Shannon Chamber, Colin MacDonald, Lohan responded to questions both from the moderator and from transition year students from five Clare schools whose attendance at the event was sponsored by Irish Rail.
Responding to a question on tariffs he said they were counterproductive and negative for productivity and that it was critical that space be created for discussion post the tariffs’ announcement.
When questioned on the impact of delays in the Irish planning system he called on everyone in the room to urge those within their sphere of influence to think before they make an objection to a planning application. While accepting that opinion is valued and critical, he said that it must be timely and not stymie agility in the planning system and, when planning concerns critical national infrastructure, he said that everyone needs to play their part in ensuring that they are delivered in a timely fashion.
With a pending shift in global trade, looking to the future he said that to compete on a global stage, Ireland will have to play to its strengths, stay nimble, and trust its ability and capability to influence.
Complementing Shannon on its unique ecosystem for business, he called for increased collaboration to bring additionality to the entire region. “Ireland is competing globally, not on a location-by-location basis,” he said.
Responding to this call, Shannon Chamber president Eoin Gavin said that it was the collective ambition of everyone attending the lunch to ensure that we continue to provide the infrastructure that will attract further investment in the areas set out in IDA’s strategy 2025 – 2029 and in the newly developing landscape of digitalisation and artificial intelligence (AI) and sustainability.
Gavin stated, “We are very much heartened by the fact that a key goal of IDA is to deliver regional investments. This will bolster the 165,000 job numbers already delivered by IDA Ireland client companies in regional locations across the country. An increase on this level will be most welcome as the added benefit of FDI presence in an area is the sub-supply opportunities that open up for our indigenous base, determined by their ability to meet the stringent requirements of an FDI company at operational and compliance levels”.
He further stated that the chamber’s member-led networks. the Mid-West Lean Network and the Mid-West Sustainability Network, the CEO and HR Forums provide platforms for members to brainstorm and undertake initiatives that can enable Shannon and the region to play a meaningful role in Ireland maintaining its competitive edge.
“Industry will always be defined by the innovative strides it makes, and we want to ensure that Shannon’s notoriety for pioneering concepts and initiatives is maintained. As a Chamber, we champion collective contributions as we believe that the combined effort of collaboration or interaction is greater than the sum of the individual contributions,” the Sixmilebridge man added.
The Shannon Chamber lunch in Dromoland Castle was sponsored by Fine Grain Property and supported by Clare County Council, Dromoland Castle Hotel, HOLMES, Irish Rail, Morgan McKinley and Zimmer Biomet.
