Ireland sees green in growing Boston companies

Written By Unknown on Minggu, 01 Desember 2013 | 18.39

Ireland's top diplomat in Boston is looking to build bridges to the Bay State's business community as a way to help get his country's economy back on track.

Breandan O Caollai, the Consul General of Ireland in Boston, said local companies could be key to Ireland's continued economic recovery.

"It's a huge potential there," he said.

O Caollai, who started in August, said one of his priorities will be to find economic opportunities for Ireland, largely by convincing local companies to open offices in his island nation. The relationship between Ireland and Boston should be about more than just heritage and history, he said.

"We just don't want to sentimentalize this, we don't want it to just be St. Patrick's Day," he said. "We want it more than that."

As Ireland's economy recovers, the country is hoping American investments can play a part in its continued growth. Last week, the country's unemployment rate dropped to 12.8 percent, the lowest rate since 2009, and down from a high of 15.1 percent.

Companies "can invest in Ireland, you can have your European headquarters in a sympathetic country which has its economy in good shape," he said.

More than a dozen Boston area companies have offices in Ireland, largely technology, life sciences and financial companies, O Caollai said.

He said many companies choose to open offices in Ireland because of the availability of talent, the relatively short travel time and lower corporate taxes than similar countries.

Mike Volpe, CMO of HubSpot, a Cambridge marketing technology company, said locating its international headquarters in Dublin made sense for a number of reasons.

"The biggest thing was the talent pool and the companies that had the models that were similar to ours were right there," he said.

The office, which opened at the beginning of this year, has about 50 employees, and will continue to grow, Volpe said.

"An awful lot of the growth in American investment in Ireland is from companies that are already there," O Caollai said.

O Caollai said he, along with Irish economic development agencies in Boston, will be looking for bio-tech and technology companies to complement the companies that are already in Ireland, such as Boston Scientific, Fidelity and LogMeIn.

On top of established companies, the country is also looking for companies that can mature in Ireland.

"New York and Boston have a thriving internet startup community — we are identifying these companies at an early stage in their development," said Barry O'Leary, CEO of IDA Ireland, a foreign investment department.


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