Tech leaders in Ireland warn that a de facto moratorium on new data center connections in Dublin will cost the country major foreign direct investment opportunities.
Tech sector figures are warning the Republic will miss out on major foreign direct investment because of the de facto moratorium on new data centres in the greater Dublin area. The Business Post reports that a number of tech sector figures have warned that the Republic will miss out on major foreign direct investment (FDI) opportunities in the coming years as a result of the ongoing de facto moratorium on new connections in the greater Dublin area.
A recent statement had said that the State will not be able to connect new data centres in Dublin until 2030. Tech leaders in Ireland, who said the effective ban on connections will see investments go elsewhere – hitting exchequer receipts that will be needed to fund a more rapid move to a fully sustainable digital economy. He said the State needs to fast track planned electricity upgrades. A client survey found the State’s generous corporate tax regime remains the single biggest factor attracting multinationals to our shores. Have Ireland’s data centre builders shot themselves in the foot through their own greed? Wonderwallets: the cost of everything in 2024, from Oasis tickets to Leinster House bike shelter The survey highlighted that the three next biggest advantages for companies were: the third-level education system, water supply, and the flexibility of the workforce. Still, the survey found the accommodation crisis is proving a challenge, with availability and price of housing both fielding negative views. Ireland’s high energy prices were also highlighted as a drawback. Eurostat, the EU statistical agency, reported in October that electricity prices in Ireland were the second highest in the EU and almost 30 percent above average, behind only Germany. However, when looking at the price of electricity before taxes have been included, Ireland has the most expensive electricity in the EU
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