Top 50 Construction Contractors In Ireland
- Jun 22, 2018-
The industry is currently building the physical infrastructure upon which our economy grows and our society progresses. However, what’s apparent when you look through the list is the impact Irish contractors are having on other countries.
Most in the top 50 have significant footprints in other countries. Around the world, Irish contractors are recognised for their global expertise having built some of the world’s most iconic infrastructure.
Irish contractors are also playing a significant role in expanding the level of foreign direct investment from high tech sectors. They do this by building strategic infrastructure and through its global competence in building highly specialised buildings and manufacturing facilities. I often think their role in doing so is overlooked. Increasingly, the capacity and expertise of our contracting sector is being recognised as a vital factor in our attractiveness to companies seeking to set up in Ireland. The fallout of Brexit may increase the importance of the sector’s capacity as more companies seek to locate here in the coming years. Interestingly, 70% of FDI investment comes from global companies already established here as they seek to expand their footprint in Ireland. Again, they can only do this because our contractors can meet their unique requirements. As increasingly, changes to the global tax system such as BEPS become established, this sector will have a bigger role to play in attracting and sustaining FDI.
More ambition in infrastructure investment is required now to generate the jobs, regional development and economic connectedness to sustain growth in our economy. Our recent ranking in the IMD competitiveness ranking to 6th in the world is to be welcomed. At the recent National Economic Dialogue, the CIF made a strong case for an increase in infrastructure investment by Government from the unsustainably low level of 2% to at least 5% in the medium term. There was widespread agreement amongst the diverse stakeholders at the dialogue that infrastructure was the priority. This point was reinforced and accepted at a subsequent meeting between a CIF delegation with Minister Donohoe. The Government are exploring a number of options to enable Ireland to increase investment in this area as they are currently constrained by EU fiscal constraints but Minister Donohoe assured the CIF that every option would be explored and referenced an additional €1billion allocated to the Public Capital Programme for next year announced in the Spring Statement.