€300M Investment into Waterford City

TheQuietFella

Max Powers wrote: »

What a prize dope.

Why?

Muttley79

Not much word on these developments the last few weeks,is it we are waiting on the government to give us the green light with the funding next?just like we’re waiting on the government sitting on the Ernst young report with the airport?just like we’re waiting on the government for the second cat lab and also university merger,to say its sheer neglect of Waterford city from the powers that be in dublin is an understatement the last few decades.

Deiseen

TheQuietFella wrote: »

Max Powers wrote: »

What a prize dope.

Why?

I think its totally above your head to be honest with you boy

Harry Palmr

We could try this

TheQuietFella

Deiseen wrote: »

I think its totally above your head to be honest with you boy

That's fair enough! You simply haven't the intelligence capacity to answer a simple question that you were never asked!

Deiseen

TheQuietFella wrote: »

Deiseen wrote: »

I think its totally above your head to be honest with you boy

That's fair enough! You simply haven't the intelligence capacity to answer a simple question that you were never asked!

The fact that the question even needs to be asked just goes to show how clueless you are.

914

Bards wrote: »

I am aware it is a Saudi Private company... The problem for the govt is if/when they announce funding for the North Quays is what will the perception that other peoples views outside of Waterford will be... I am sure this will be taken on board on any decision on the North Quays and rightly or wrongly perception is everything...

Hypothetically, if this happened in an americian embassy, and an americian company were coming to invest €300 million, would we have the same concerns or protest over "blood money"?

I don't think so, so I really can't see how things in SA can impact on this development. It's just nonsense.

Road-Hog

914 wrote: »

Hypothetically, if this happened in an americian embassy, and an americian company were coming to invest €300 million, would we have the same concerns or protest over "blood money"?

I don't think so, so I really can't see how things in SA can impact on this development. It's just nonsense.

If ya stand back for a moment and think about it, how much ‘money from American companies that a significant number of people in the Middle East would regard as ‘blood money’ has been invested in Ireland......? I would imagine the average Afghan who has suffered from Uncle Sam and his foreign policies would regard American invested money in Ireland as ‘blood money’ just as much as some in Ireland would view any Saudi Arabian investment in Ireland as blood money

Harry Palmr

I wish the yanks would invest some of their bloody money in Waterford

Deiseen

Road-Hog wrote: »

914 wrote: »

Hypothetically, if this happened in an americian embassy, and an americian company were coming to invest €300 million, would we have the same concerns or protest over "blood money"?

I don't think so, so I really can't see how things in SA can impact on this development. It's just nonsense.

If ya stand back for a moment and think about it, how much ‘blood’ money from American companies had been invested in Ireland......ask the average Afghan their view of Uncle Sam and his foreign policy and how many people in Middle East Americans have killed as a result of it or via collateral damage....

Also haven't seen any protests out at Teva recently...

Road-Hog

Deiseen wrote: »

Also haven't seen any protests out at Teva recently...

Yeah ‘Israeli’ money......’lots of white and red cells’ on it also. Yer man with the placard on the bridge the other day shud head out there for himsslf

robcass78

Harry Palmr wrote: »

I wish the yanks would invest some of their bloody money in Waterford

FDI money is leaving the country, not coming in.

https://www.irishtimes.com/business/economy/fdi-to-republic-takes-steep-dive-under-trump-tax-reforms-1.3668337

Wanderer78

robcass78 wrote:

FDI money is leaving the country, not coming in.

How much of this is profits that doesn't get invested into actual job creation, and just experiences a 'resting in our accounts' type situation? There's generally a lot more to these stories, again, Ireland is a tax haven for large corporations, according to some, I believe I've heard bill black mention this in his work, some of that money was actually never truly in Ireland, but was in American accounts, and was awaiting policy changes to move it into lower tax rated accounts. It is also believed, that a lot of these type of repatriated profits were actually invested in low job or no job creation 'share buy back' investments. Always be wary of 'facts' and figures in relation to these stories, the world of fdi is murky to say the least

hardybuck

robcass78 wrote: »

FDI money is leaving the country, not coming in.

https://www.irishtimes.com/business/economy/fdi-to-republic-takes-steep-dive-under-trump-tax-reforms-1.3668337

The US tax system has been highly dysfunctional for some time, and many of these large multinationals are gaming the system internationally.

So, rather than losing out on FDI, what's actually happening here is that the US Government gave their multinationals a special once-off tax rate on profits earned abroad.

Max Powers

Wanderer78 wrote: »

How much of this is profits that doesn't get invested into actual job creation, and just experiences a 'resting in our accounts' type situation? There's generally a lot more to these stories, again, Ireland is a tax haven for large corporations, according to some, I believe I've heard bill black mention this in his work, some of that money was actually never truly in Ireland, but was in American accounts, and was awaiting policy changes to move it into lower tax rated accounts. It is also believed, that a lot of these type of repatriated profits were actually invested in low job or no job creation 'share buy back' investments. Always be wary of 'facts' and figures in relation to these stories, the world of fdi is murky to say the least

This is more irrelevance postings wanderer ....
We want FDI as it creates jobs, see intel, genzyme, FSC, etc etc, that's what people want and care about, that's why we're constantly complaining to IDA about lack of it here. BSing on about share buy back, tax avoidance or name dropping some economist and their writings doesn't make you sound knowledgeable in the slightest about this.

Johnboy1951

Wanderer78 wrote: »

How much of this is profits that doesn't get invested into actual job creation, and just experiences a 'resting in our accounts' type situation? There's generally a lot more to these stories, again, Ireland is a tax haven for large corporations, according to some, I believe I've heard bill black mention this in his work, some of that money was actually never truly in Ireland, but was in American accounts, and was awaiting policy changes to move it into lower tax rated accounts. It is also believed, that a lot of these type of repatriated profits were actually invested in low job or no job creation 'share buy back' investments. Always be wary of 'facts' and figures in relation to these stories, the world of fdi is murky to say the least

Max Powers wrote: »

This is more irrelevance postings wanderer ....
We want FDI as it creates jobs, see intel, genzyme, FSC, etc etc, that's what people want and care about, that's why we're constantly complaining to IDA about lack of it here. BSing on about share buy back, tax avoidance or name dropping some economist and their writings doesn't make you sound knowledgeable in the slightest about this.

Maybe I am having a blank moment, but I see no real contradiction.

Foreign direct investment, implies that the investment is from overseas.

So logically if the funds are repatriated to the USA, then any part of that which is invested here is FDI.

There is no indication that any less or more of those funds will be invested here regardless. It is not as if the whole lot was slated for investment in little ole Ireland!

Deise Vu

Johnboy1951 wrote: »

Maybe I am having a blank moment, but I see no real contradiction.

Foreign direct investment, implies that the investment is from overseas.

So logically if the funds are repatriated to the USA, then any part of that which is invested here is FDI.

There is no indication that any less or more of those funds will be invested here regardless. It is not as if the whole lot was slated for investment in little ole Ireland!

And I'm having a blank moment about your blank moment.

FDI is when Company A Inc decides to spend $XBn in Ireland to set up a plant or office. When that company makes profits, they can either leave it on deposit, throw cash up in the air going weeeeeeeee.... or repatriate it to the mother company.

Until The Donald brought in a reduced repatriation tax no company was prepared to send the money home to be taxed to the hilt. What we are seeing this year is the massive profits Microsoft, Intel, Apple etc made being repatriated. It is not 'negative' FDI as they have no use for it here and it is certainly not 'reverse' FDI (Irish Companies investing in the States in the proper sense of investing).

And The Donald is not the first president to bring in this reduced tax. It has been done under previous regimes also. It is a tax revenue generating exercise as the funds would remain outside the States under the existing legislation. The US authorities also hope the funds will be invested in the states either directly by the company or as a result of dividends being paid to shareholders.

Waterboy2014

There's quite a worrying article in Munster Express this week re the delay in Alhokair signing contracts with council re NQ development. Apparently it's been pushed down the line quite a number of times. Is it just me or does this development seem to have hit a bit of a stale patch? Have to question the delay in Central Government announcing funding for the iinfrastructure. I was looking back over news feed and it was originally believed that specific funding for the site would be ring fenced by government in November 2017!!!! One year ago!!!!

robcass78

Waterboy2014 wrote: »

There's quite a worrying article in Munster Express this week re the delay in Alhokair signing contracts with council re NQ development. Apparently it's been pushed down the line quite a number of times. Is it just me or does this development seem to have hit a bit of a stale patch? Have to question the delay in Central Government announcing funding for the iinfrastructure. I was looking back over news feed and it was originally believed that specific funding for the site would be ring fenced by government in November 2017!!!! One year ago!!!!

Not worried.

Quiet means 'work happening'. In Ireland it seems to be those who talk don't actually do; housing crisis, healthcare, climate action, education is all talk with little delivery.

Did you not read this very positive article?

http://www.munster-express.ie/front-page-news/city-set-for-e3-billion-spend-boost/

Wanderer78

robcass78 wrote:

Quiet means 'work happening'. In Ireland it seems to be those who talk don't actually do; housing crisis, healthcare, climate action, education is all talk with little delivery.

Unfortunately rob, we re effectively stuck with these issues for the foreseeable future, as many of our critical institutions such as our political institutions are powerless to change these things, it may require a couple of more crashes for us to realise this. Fair play for your efforts, even though I'd disagree with a lot of the thinking behind it.

IspeakcozIcan

Update on Eddie Mulligan's twitter account now:


Contract agreed and signed with Fawaz Alhokair Group.

Waterboy2014

IspeakcozIcan wrote: »

Update on Eddie Mulligan's twitter account now:


Contract agreed and signed with Fawaz Alhokair Group.

I literally spoke to soon with my earlier post!

mooseknunkle

Harry Palmr

So we're not all going to die of impoverishment - Pip Bin and Poppy Bin will not go hungry this Christmas!

/swoons and vanishes under huge crumpled bonnet.

Road-Hog

Harry Palmr wrote: »

So we're not all going to die of impoverishment - Pip Bin and Poppy Bin will not go hungry this Christmas!

/swoons and vanishes under huge crumpled bonnet.

What sort of riddle/code are you typing in there.....?? Pip bin poppy bin etc....explain

Road-Hog

Anyone any idea when the funding from government will materialize.

Harry Palmr

Road-Hog wrote: »

What sort of riddle/code are you typing in there.....?? Pip bin poppy bin etc....explain

Bleak Expectations google it.

Deiseen

Road-Hog wrote: »

Anyone any idea when the funding from government will materialize.

Will imagine there will be a visit by a minister for this. Anything in the schedule?

tonc76

IspeakcozIcan wrote: »

Update on Eddie Mulligan's twitter account now:


Contract agreed and signed with Fawaz Alhokair Group.

Let me start by saying that I'm all for these developments and the boost that they will give to Waterford.

However, I (possibly mistakenly) understood that the investment by FA Group was dependent on Government funding of ~€60m for infrastructure? While the Government referenced the funding in their 2040 National Planning Framework there was no mention of when the funding would be made available. As a result I'm interested to know whether the contract that has been agreed and signed is subject to the Government funding being committed?

I'd estimate that the majority of the €60m for infrastructure is required at the North Quays so it may be possible that Michael St can go ahead without that.

Anyone able to shed any light on the above?

Harry Palmr

(slightly sidebar) When you think about it the idea that a 300+ million spend would be decided by 60m of gubberment cash seems unlikely (/slightly sidebar).