Botox boom saves Irish town amid the massive downturn and recession
Westport in County Mayo is thriving as other towns face economic ruin
Barry O'Leary, chief executive of Ireland's Industrial Development Authority said that Allergan's investment proves that Ireland is still an attractive location for multinational industries.
"Nine of the top 10 global pharma and biopharma companies have a significant presence in Ireland. The sector benefits from a highly skilled workforce, an exceptionally strong track record in development, manufacturing and compliance, a competitive tax rate and easy access to global markets."
Allergan's presence in Westport appears to have saved the town from the worst ravages of the economic downturn, reports the Guardian. The workforce has stayed loyal to the town and the company and the average worker spends 11 years at the factory.
Read more Irish immigration news on IrishCentral
Says O'Donnell: "That demonstrates serious loyalty and a lot of what we do is commercially sensitive with very specialised, technical knowledge. So because we can keep that within the organisation by virtue of the fact that we have a low employee turnover, it makes Westport even more attractive."
He adds that Ireland's low 12.5% corporation tax rate is still a large factor in attracting foreign businesses to the country.
"It's hugely important for a couple of reasons," says O'Donnell. "One, of course, is the low rate – and the message that it is staying low is vital. It should not even move, because once it starts to move that would send a negative psychological signal to corporations. The corporation tax is the bedrock, but it is also important that Ireland has a very transparent tax system, which works to our advantage. As well as manufacturing, Allergan runs a lot of its financial services in Ireland because of our tax system."
- Gay teacher fired from Catholic school after...
- Nelson Mandela once considered a terrorist...
- Racist incidents in Ireland up by 85 percent...
- Nelson Mandela was against IRA decommissioning.
- Irish radio presenter suspended after anti-Isra
- Unionists regret US envoy Haass’ call for...
- Hollywood star Gabriel Byrne brands new Pope...
- Irish students told “No Irish Need Apply”...
- Website attracts 80,000 Irish people ready...
- Photo shows Irish revolutionaries three years...
Someone's freedom fighter is quite often someone else's terrorist...Gay teacher fired from Catholic school after applying for same-sex marriage license
This makes me sad. I believe he should sue, but he chooses not to. I have a problem with the school's position that Catholics and non Catholics alikePhoto shows Irish revolutionaries three years before Easter Rising
Did any body notice how quick Independent.ie pulled all the negative comments about past & present corrupt politicians that ruined Ireland ?? EndaGay teacher fired from Catholic school after applying for same-sex marriage license
You cannot be a teacher in today's world without caring deeply for the welfare of the next generation and supporting the education systems we work in