In the past four years, some 70 tech firms have set up shop in Killorglin, home to the long-running festival that sees a local goat crowned "King Puck." But now Killorglin has been crowned as the new "West Coast tech hub" by British firms investing there to get away from the sky-high house prices and traffic of Dublin.
Many British tech companies have set up there in the wake of Brexit, attracted by Ireland’s low corporation tax of 12.5%, which is exactly half the UK rate.
The average property costs €290,000 in the town, compared to €703,000 in central Dublin.
Major companies in the town include Fexco, a financial services company, which was founded there in 1981, while pharmaceutical firms Temmler and Astellas have small plants in Killorglin.
It is also the operations center for the Prize Bonds, part of Ireland State Savings.
In fact, more than 70 companies have launched in, or relocated to, the town – whose current population is 2,200 – in just four years.
Killorglin, County Kerry.
Many British tech firms and small businesses are also worried that the UK’s Employment Rights Bill will drive up their staff costs.
Producing in Ireland also gives companies unfettered access to the EU market.
Rory McGillycuddy, Ireland director at Glencar, which is based in Killorglin, said: “Like many British businesses that trade with Europe, we decided to establish a base within the EU following Brexit.
“Less obvious was our choice of Co. Kerry over Dublin as our home office.
“I’ve previously worked in both London and Dublin, and the quality of life here on the west coast is streets ahead.
“My journey to work takes five minutes, and the RDI Hub’s subsidized restaurant looks out on mountains in one direction and green fields in the other.”
Liam Cronin, chief executive of the RDI Hub, said: “Since we launched in 2020, we’ve attracted entrepreneurs from as far afield as Singapore, South Africa, the USA and UK.”
* This article was originally published on BusinessPlus.ie.
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