Atlanta-based Equifax Inc. has opened a new information technology innovation center in Ireland that will employ 100 people.
The financial technology firm provides credit information on about 600 million consumers in 19 countries and decided to tap Dublin’s tech talent to develop solutions in support of its global operations.
Equifax already has a facility in Wexford, Ireland, opened in 1994 to provide database support for its United Kingdom consumer-information segment. Ninety people still work at that facility.
The new investment is partially the result of support by the Irish government’s Department of Jobs, Enterprise and Innovation and IDA Ireland, the country’s inbound investment agency, which has an office in Atlanta focused in part on recruiting IT firms. IDA offers grants and tax incentives to foreign investors bringing research and development operations to the country. Employment incentives are also available, but usually only outside Dublin and Cork, the two largest cities.
The announcement comes about a week after the Irish government announced its Action Plan for Jobs, which details 300-plus actions to be undertaken across 16 government departments to create 200,000 new jobs by 2020. One goal is to draw €600million (about $656 million) in R&D investment from multinationals.
R&D investment is “sticky”, said Michael Smith, head of IDA’s Atlanta office, highlighting the fact that companies creating new products or services tend to be invest for the long term. He added that 2015 was a record year for job-creation by foreign companies in Ireland. IDA-supported projects created a net of 11,833 jobs, a 66 percent increase over the previous year. Now, one in five private-sector Irish jobs is supported by foreign investment, a record high of more than 187,000.
The main draw for Equifax was the workforce, according to executives. Dublin is known for its tech prowess and hosts substantial operations of international technology giants like Google, Apple and many more.
“We have made a big bet on Dublin as we recognize the technology talent pool is strong and the market can support Equifax’s increasing demand for bold, innovative thinking,” said Paul O’Dwyer, leader of the Dublin center.
That squares with the way Mr. Smith sells his country.
“We talk about talent, track record, technology and tax being the core pillars that attract companies to Ireland. Ease of doing business is massive, and the facts that you’re a part of the eurozone and it’s English-speaking are huge,” he said.
Demand from the Atlanta area remains strong, he said, given the agency’s traditional recruitment focus on ICT, medical devices and financial technology. But the agency is also starting to seek investment from more nontraditional sectors like entertainment and education and is targeting small, high-tech firms.
“We’re looking at smaller companies that are looking to internationalize at the outset” and need a bridge to global markets, he said.
As of the third quarter of 2015, Equifax earned nearly one-fourth of its revenues from international markets, with Europe leading the way. The company in 2014 agreed to acquire a U.K.-based firm and in November announced that it would buy an Australian company, Veda Group Ltd., for $1.8 billion to extend its presence in Asia.
Hiring for the Dublin center has begun. Applicants can inquire at www.Equifax.co.uk/dublinjobs.
Editor’s note: Comments from Michael Smith added.
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