Paul Caplis

Head of Investments UK Trade &

Investment

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Paul Caplis Head of Inward Investment

November 2013

UKTI in Ireland and around the world

• UK Trade & Investment in Ireland.

• Where? British Embassy Dublin

• What? British Companies export and Irish Companies set up in the UK

• UKTI has more than 1,200 staff in over 100 overseas markets and around 400 people across UK regions, working locally to support UK businesses and overseas investors.

• Devolved Administrations

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UKTI has more than 1,200 staff in over

100 overseas markets.

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Why invest in the UK? (1)

• A magnet for FDI: leading FDI destination in Europe.

• Corporation tax: 28% in 2010 now reduced to 23%

• April 2014: 21% - April 2015: 20%

• Universities: Three of the world’s Top Ten

• More than 100 science parks.

• Enterprise Zones.

• One of the largest and most diverse creative and digital industry sectors in the world.

• European centre for professional services and world’s leading global financial hub in London.

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Why invest in the UK? (2)

• Easy to set up and operate

• Transparent legal and regulatory environment.

• International transport links.

• Over 70 airports and 40 major ports

• Customers, product innovators, suppliers and partners are easily accessible.

• Well-educated, motivated and flexible workforce.

• UK labour regulations are among the most business-friendly in Europe.

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UKTI investment services (1)

• Impartial advice on where and how to set up a business in the UK.

• Guidance on set-up procedures, e.g. corporate structure, registering a company

• In-depth, tailored information and advice, e.g. premises, tax, R&D collaboration, visas.

• Access to lists of professional service organisations which can support a company’s move to the UK.

• Practical help in the UK (visits to locations, accessing financial incentives etc.).

• Assistance in finding new partners and expanding business.

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UKTI aims to provide the most effective end-to-end service possible for inward investors.”

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UKTI investment services (2)

• UKTI assists investors not only to set up but also to thrive and grow once they are established. This includes:

– access to our best-in-class export-support services;

– an understanding voice in Government for investors’ needs and concerns;

– ongoing tailored support to help investors to grow in the UK.

• UKTI’s strategic relationship management will build Government’s understanding of the requirements of important inward investors.

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UK Government measures attracting inward investment

• Cutting corporation tax to 20% in 2015.

• Committed to remaining one of the most open countries in the world for ease of doing business.

• Major investment in education and training

• Introduction of the “Patent Box”: 10% tax rate for profits attributable to patents.

• R&D tax credits.

• Ongoing investment opportunities through the Life Sciences Investment Organisation, Tech City and other R&D ‘clusters’.

• Visas for entrepreneurs and investors.

Plans for

£250bn in infrastructure

investment

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Inward Investment - achievements

• In 2011-12 the UK secured 1,406 investment projects, which created 52,741 new jobs and safeguarded 59,918 jobs

• Irish Investment in the UK: Total number of Investment projects from Ireland to the UK was 46, creating and safeguarding 2,809 jobs in FY 2012-13

• From 2003-2012, over 60 % of all reported Irish FDI went into London followed by Belfast at 14% and Manchester at over 7%

• Ireland the 11th Largest Investor in UK – book value £12.1bn

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Investment – recent Irish successes in the UK

• Greencore expansion in Somerset, production facility at Evercreech: 120 -150 new jobs

• KTL: New UK operation base in Milton Keynes, Buckinghamshire...

Established in 2012 with 100+ new jobs

• Mainstream Renewable Power and Glen Dimplex continues it’s UK expansion with its renewable energy projects.

• Realex Payments: UK presence in London

• Sword Security: Growing in the UK and beyond.

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We have always benefited from

the UK's dedicated and highly

skilled workforce." Eric Le Corre, Managing Director, Michelin UK

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Current priorities – Olympic business legacy

• London 2012 Olympics & Paralympics widely regarded as the ‘greatest’ Games ever, and showcased Britain at its very best to the world.

• Irish Success in the London 2012 Games:

-13 large scale projects won by Irish companies

- CompeteFor website: 850 registrations from Ireland

-Highest number of overseas registrations

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UK & Ireland are important markets for each other

The UK is an ideal market for Investment

We are based in Dublin and we can help

Conclusion

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