Cork has been named the best small city in Europe for its Foreign Direct Investment strategy by the Financial Times fDi magazine. The magazine also ranked Cork as one of the overall top 10 small European cities for inward investment. Published every two years, fDi’s European Cities and Regions of the Future presents a league table of the most attractive locations in Europe for inward investment.
Responding to the news Lord Mayor of Cork Cllr Chris O’Leary said:
“We are delighted to be ranked the best small city in Europe for its foreign direct investment strategy, and to see Cork continues to feature strongly in the fDi rankings. This reflects our strong track record in attracting and retaining FDI. 2015 was another great year for investment in Cork culminating in Apple’s announcement of a further 1,000 jobs at its European HQ in the city. Investors considering Cork will be in good company.”
European Cities and Regions of the Future are determined using data across 481 locations. The “small city” category covers cities with an immediate city population of 100,000 to 350,000. In addition to winning the FDI strategy award, and featuring in the overall top ten small European Cities, Cork was also included in the top ten small European cities for economic potential and for business friendliness.
Cork’s inclusion in the rankings demonstrates its continued attractiveness for overseas investment. Cork is an established base for major global corporates. They are attracted by the talented and educated workforce, the value balance, competitive tax environment, superb quality of life, business-friendly and collaborative environment and the successful global brands already calling Cork home.
“Winning the FDI strategy category reflects how Cork City Council, IDA Ireland and other stakeholders are proactively working to promote and strengthen the attractiveness of the Cork region globally” said Ann Doherty, Chief Executive at Cork City Council.
Major new developments such as One Albert Quay, the Event Centre and The Capitol, which are now underway, will further enhance the City’s high-end office, retail and leisure offering. As global businesses increasingly locate in city centre locations, Cork offers opportunities to benefit from its superb quality of life, business friendly environment, talented workforce and modern large plate office space, all within 10 minutes of Cork Airport. We look forward to continuing to work closely with our partners in the region to promote Cork as an attractive place for inward investment and job creation opportunities.”