Taoiseach Micheál Martin has stated that Intel’s five billion-euro investment in its Leixlip campus in County Kildare is not an “outlier” in the tech industry. Speaking to reporters at the chipmaker’s facility, Martin addressed questions about Ireland’s business costs and the government’s efforts to maintain competitiveness.
Intel’s AI-driven expansion
The investment is driven by global demand for artificial intelligence, which has increased the need to expand production of processors and chips. Intel says the project will also advance research and development and help strengthen Europe’s semiconductor supply chain.
Challenges and government response
When asked if the cost of doing business in Ireland could deter future investments, Martin acknowledged challenges, stating the government is “very, very aware” of issues such as energy costs, which have been “exacerbated” by the wars in Ukraine and the Middle East. He added that the government needs to “do better” on energy costs.
Martin highlighted a research and development corporation tax credit measure introduced last year as “significant in enhancing” Ireland’s competitiveness. He expressed confidence in the tech sector despite recent redundancies at other multinationals, noting that the sector is “growing in Ireland” and comprises around 130 companies employing “well over” 30,000 people.
Ecosystem and future outlook
Martin emphasised that specialised construction industries catering to the high-tech sector also attract foreign investment. “They know our ecosystem will enable us to get it done and get it delivered in a very reliable and high-spec way,” he said. He warned of “some changes in respect of AI” but predicted Ireland would benefit from increased AI investment due to its skills base.
Enterprise Minister’s remarks
Enterprise Minister Peter Burke, also present, pointed to investments by Qualcomm Technologies in Cork and Openchip and Rippling in Dublin as signs of sector strength. He noted that IDA Ireland had “a record year, 323 investments, a lot of new name investments in Ireland too.”
While Intel has not specified how many jobs the project will create, Burke described the company as being in “a strong growth phase” and said numbers would be available “shortly.” He added that concerns about past job cuts have “completely gone.”
