WELSH GATEWAY FOR IRISH EXPANSION

Helping dynamic Irish enterprises to expand is one of the priority objectives of a newly created Welsh business support service.

International Business Wales, a division of the Welsh Assembly Government, draws together many specialist skills required to help ambitious companies succeed in global markets.

Incorporating the former Welsh Development Agency and Wales Trade International, IBW’s stated aim is to build profitable links between Wales and the world.

EXPANDING ENTERPRISES

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Enterprises emerging from Ireland’s Celtic Tiger economy, and now seeking to expand into the UK, have been placed high on the list of targets for the new body.

Mel Crisp, IBW’s country manager, based in Dublin, explained that Wales provides an ideal and very cost-effective gateway for such companies to establish a presence in Great Britain and claim a bigger share of this neighbouring market of 60 million consumers.

INWARD INVESTORS

IRISH FIRMS IN WALES

AROUND 30 FIRMS WITH IRISH ORIGINS HAVE BASES IN WALES. THEIR LINKS WITH IRELAND ARE EASILY MAINTAINED THROUGH RAPID AIR AND SEA LINKS.

Irish-owned food processor the Dawn Group, moved into Carmarthenshire in the early 1990s and recently invested a further €47 million to expand and create a giant plant that employs 650 people. The firm serves a huge network of UK food retailers, including ASDA, Sainsburys and Marks & Spencer.     One well-established Irish firm in Wales which has benefited from this high level of support is Anglesey-based Glanbia Cheese. Its chief executive Paul Vernon said, “our on going relationship with the Welsh Assembly Government means that they really understand our business. Their response times are always quick, enabling us to make rapid progress on our plans.”     Latest to arrive is the Quinn Group, which is about to open its 750,000 sq ft radiator manufacturing plant at Newport, Gwent, which will employ 460 people.

“There are major mutual advantages to be gained. Wales is eager for inward investment and good quality jobs, while expanding Irish companies can greatly strengthen their offering to the British market by setting up a base in Wales,” Crisp explained.

“For Irish manufacturers in particular, a presence in Britain is important both physically and psychologically. It reduces transport costs and increases their attractiveness to British customers who feel more secure when dealing with International Business Wales, a a supplier based within the UK. Our experience is that Irish firms which have moved into Wales get more opportunities to bid for work across the UK as a whole.”

Wales has a strong track record of attracting inward investment, with approximately €41 billion being ploughed into installations there by overseas enterprises in recent years.

A significant portion of this sum consists of reinvestment by enterprises, which have opted to expand following a period of successful trading from their new base.

GATEWAY TO EXPANSION

Wales offers a host of advantages to inward investors, including its well developed supplier network, skilled workforce, sector-specific Technium specialist accommodation and strong academic links for research and development.

The vibrancy of Irelands growing economy has created more prospective investors and Wales has been quick to recognise the potential. It is the only part of Great Britain, which maintains its own full time office in the Republic.

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Crisp, who operates from the IBW office at Ballsbridge, Dublin said, “being on the spot allows me to develop a better understanding of what Irish companies need. That enables us to offer them better solutions in Wales. Whenever an Irish company is considering an investment in Wales I accompany them on each trip to ensure we identify their requirements very precisely and deliver the right package in terms of location, property, infrastructure, people and finance.”

Once an investing company arrives, IBW assigns it a dedicated key account manager whose role is to keep track of the firm’s changing needs and offer the necessary support at the right time.

Such support has been applied across many sectors, covering enterprises such as building material manufacturers Kingspan in Flintshire and Goodwins in Gwent and veterinary products company Bimeda of Anglesey. Recruiting skilled people for these new facilities has been aided by the fact that a working population of more than half a million people lives locally.

BENEFITS OF WALES

The availability of a skilled workforce and relatively low operating costs makes Wales an attractive destination for Irish investors from many sectors.

“Expanding by setting up in Wales gives Irish enterprises access to 60 million consumers only 60 miles east of the Republic. At the same time it offers some of the lowest business operating costs in Britain, excellent property and infrastructure, a plentiful supply of skilled labour and a well-developed supplier base,” Crisp concludes.

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