As you know we Irish are always concerned about the weather. It’s in our DNA. We have a saying that goes somewhat like this "It’s a fine soft day!" That phrase can mean anything from a storm force 10 coming in over Achill Island, or that there is a fine mist that would do justice to the Equatorial rainforest. It invariably is a reference to "Clouds" of some sort or another!
It stems from our temperate climate – and that climate is one of the reasons the TelecityGroup, and many other data centre managers are here. I understand you will be utilising more "Clouds" than ever has been seen rolling in over the Atlantic.
The exponential growth of cloud computing is changing the face of business. It is a game changer. The data centre is at the core of this industry – data centres essentially facilitate the cloud computing industry.
TelecityGroup’s presence in Ireland is an acknowledgement of the Government’s focus on cloud computing as an emerging sector that we are actively supporting. Most recently we have funded new applied research and innovation centres specialising in cloud computing. The Government also aims to lead by example and so we have started to conduct IT research and trials in conjunction with major ICT companies and have started drafting a cloud computing strategy for the public service.
In this regard TelecityGroup is a company with a strong reputation with a strong track record and one that we know will add greatly to the Irish economy.
Ireland as Tech LeaderIreland is fast gaining the reputation of becoming the digital capital of Europe and a global tech hub.
We have 8 of the top 10 American IT companies based here. Companies such as Google, Intel, Facebook, Oracle, Microsoft, Hewlett Packard, to name but a few, have set up in Ireland because of the passion and dedication of our people.
The IT sector is a driving force which is leading our economy back to growth and job creation. It accounts for 43% of our total exports.
2011 alone has been an excellent year for new investment in Ireland to date - with a large number of the world’s top companies announcing significant projects. These included PayPal, SAP, VMware, GILT, Ericsson and Dell.
Ireland as an Excellent Business Location
These successes are based on Ireland’s status as an open, flexible and innovative economy. We have shown in recent years how a nation can rise to the many economic challenges facing countries during the wider international fiscal problems.
We have undertaken the painful but necessary correction in our national finances and are building an export led economy that is built on business and innovation.
As you may be aware the new Government is about to deliver its first budget that focuses on jobs and enterprise. The corporate tax rate will not be increased as it remains a core pillar of our enterprise strategy. There will also be no increases in income tax as we want to encourage employment and growth as much as possible.
Ireland is ranked 2nd most attractive country globally for Foreign Direct Investment by the NIB/FDI Intelligence Inward Investment Performance Monitor 2011 while the Ernst and Young Globalisation Index ranks Ireland as the 2nd most globalised economy in the world.
What statistics can’t tell you is where our true value lies. Other foreign companies based in Ireland know too well that one of our greatest strengths is our people and their passion for business and work.
In the world of business, you live in an environment of constant change, something you are all confronted with everyday. The ability to adapt to this change will define how successful we will be in the future. It has been Ireland's ability to innovate, advance and to deliver opportunities in times of change that has marked our success.
The current economic challenges we all face make this adaptability more important than ever. We will work hard to continue to create and sustain an environment for international enterprise that is business friendly, politically stable and uniquely competitive.
Conclusion
Once again, I want to wish TelecityGroup every success with this new operation and to thank all those involved for this commitment to Ireland. This investment is fully in line with IDA Ireland’s and the Government’s policy of attracting the highest quality investments into the country.
TelecityGroups’s presence in Ireland further enhances our reputation as an excellent country in which to do business and I hope this partnership will be long lasting.
Thank you.