FDI Communications Inside Scoop: Ireland’s IDA Calls for US PR Assist
News of and IDA Ireland seeking proposals from US based PR firms speaks well for the country’s forward momentum, and tells volumes about real business expectations of communications companies. IDA’s call for proposals makes no bones about media outreach as a component value.
An interesting bit of news came across my digital desk this morning, a request for proposals (RFP) from Ireland’s agency for developing direct investment in the country, IDA Ireland. Flatly stated, the document I saw targets US agencies for an apparent revamping or renewal of IDA’s recruitment of investors from the United States. For those not aware, IDA Ireland was formed way back in 1949 as part of the Department of Industry & Commerce there.
Besides the numbers indicated in the RFP where the US direct investment in Ireland are concerned (about 70% currently), what’s fascinating about this particular PR competitive call are the “deliverables” – the expectations for precise numbers of media mentions, and etc. This sort of mini-expose of the external communications aspect of a leading international investment player, is also a bit of a module for emulating success in one view. The fact IDA and other Irish incentive variables have influenced this degree of US investment in the past, provides a little template for showing how PR is still leveraged toward the ends of business. IDA successes, like the 2010 Fi-Tech Dublin announcement from whence the image below came, add inextricably to arguments for PR in this century.
L – R Peter Marshall, Managing Director Fi-Tek, Batt O’Keeffe TD, Minister for Enterprise, Trade and Innovation, Barry O’Leary, Chief Executive IDA Ireland – courtesy MerrionStreet.ie
Our source informs us that IDA, at least partially as a result of the “constant challenge of competiton from other foreign direct investment governments agencies”, needs significant media mentioning to help overcome competitor challenges. To wit, we are told IDA expects media outlets such as; CNBC-TV, Bloomberg-TV, Fox Business Network, CNN-TV, Fox News Channel, The Wall Street Journal, The New York Times, BusinessWeek, and Forbes in the following proportions:
- Print and TV Interviews – At least 75 per year
- One-on Meetups or Briefings – At least 48
- Tier 1 Placements – At least 25 per year
- Conference Calls – At least 48 per week
While IDA’s new call is not so extraordinary considering their successes in getting tech R & D investments inside Ireland, the apparent competition matrix is. Other key components of such agencies are well know such as governmental agency protocols, targeting key influencers within the US structure (in this case Irish Americans), and trade show support etc. Besides following the links, IDA may also be tweeted via @IDAIRELAND and observed further via their blog here.
Finally, this latest IDA move for visibility in the US calls for a clarification of one perceived negative for potential investors there. That would be the idea that somehow Ireland’s tax laws adversely affect FDI in the country. Borrowing from IDA’s own website, the following amount to incentives more than hurdles for innovative companies intent on offshoring.
- Ireland offers a corporate tax rate of 12.5% for active business.
- And there’s a 25% Research & Development (R&D) Tax Credit available
- Plus, an Intellectual Property (IP) regime there leaves a positive write-off schema for such acquisitions.
What makes Ireland great, probably does make Ireland great for business, maybe the Irish have that flair for no nonsense, and no nonsense PR moves too.
For readers interested in learning more about IDA Ireland across metrics such as economic impacts of the agency etc. this link offers reports and other vital input.