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Newstalk 1 Ronan Gill

Newstalk 1:

Ronan Gill

5078302.

FEXCO new jobs Ireland.

  • Fexco teamed up with RDI Hub have given 305 new jobs in Ireland in Kilorglin in Co. Kerry.
  • Fexco is a financial services and payment card services firm originally based in Ireland.
  • Fexco was originally founded in Ireland in 1981 in Kilorglin  Co.Kerry, the firm has since expanded and come back to Ireland. The new building is honouring the founder of the company John McCarthy.
  • A new manufacturing plant 57,000sqft which results in a €21 million investment in Ireland. The building was part funded by Regional Enterprise Development Fund which is an initative set up by the government to make Ireland more attractive to invest in from abroad. This is great for modernising Ireland and bringing high tech companies into the country.
  • Fexco have 2,500 employees in 29 countries worldwide, they employ 1,000 of these employees in Ireland, which is a good thing for Ireland as it reduces unemployment in Ireland.
  • This investment helps both of these companies by keeping them at the forefront of global financial technology development globally while also reducing government expenditure for Ireland as unemployment will remain low.
  • This investment may cause other large global companies to invest in Ireland as a country with our infrastructure increasing due to increased investment.
  • I think that in the coming months with Brexit currently happening that many large companies will set up an office or a building in Ireland so that they could take advantage of less harsh trade laws between Ireland and England. I think Ireland and England will have different trade laws to the rest of Europe because Ireland does so much trade with England. This is a side of Corporate Citizenship that is sly but helps the economy to keep the flow of money between countries constant even through Brexit.
  • Enterprise Ireland boss Julia Sinnamon said “The new building is a sign of diversification of the high tech companies in Ireland.” This is great for Ireland as it is such a small country that houses so many high tech companies.
  • Within Ireland there is an Apple and Google building. I Believe this was done to make use of the low corporation tax in Ireland of 12.5% where as US is 22.5%. This is good for apple, google and the Irish government as it helps save money and it creates jobs. It can be looked at as bad or as good depending on your point of view.
  • There are many issues like this where large companies help small countries but also keeping their own needs first like avoiding tax or trying t get better trade terms.

https://www.independent.ie/business/irish/financial-services-firm-fexco-confirms-305-new-jobs-as-part-of-21m-investment-38929537.html

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