Tuesday, February 15, 2005
Dublin — Yahoo!, the internet portal, today announced it has chosen Dublin, Ireland as the location of its European Headquarters. Ireland beat off stiff competition from other European countries to win the investment. The move is expected to create over 400 jobs – two thirds of which are expected to be for graduates with skills in information technology, financial services, customer support and website editorial.
Earlier in the month, Ireland lost a potentially multi-billion euro investment by Dell for a new manufacturing facility to Scotland. This was a huge disappointment for IDA Ireland — the countries main development agency — which had offered heavy incentives to the US computer maker. This brought about fears that Ireland had lost its ability to attract high-value investments from foreign multinationals — the driving force of Ireland’s Celtic Tiger economy.
Speaking about the investment, the Irish Minister for Enterprise, Trade and Employment, Micheál Martin, said winning the Yahoo project was a “truly outstanding achievement for Ireland”. Yahoo’s Senior Vice President International, John Marcom, said the decision to locate its European operations headquarters in Ireland was influenced by a “number of factors” which included “the calibre and volume of graduates available in Ireland, the up to date cost competitive telecommunications and data centre infrastructure, and the assistance of IDA Ireland.”
Yahoo is one of the world’s largest internet companies. Its decision to locate in Ireland confirms Dublin’s continued attractiveness to internet and technology companies – Google, Bell Labs, eBay, Microsoft, Amazon and Oracle all have significant Irish operations.