IDA

Subsidy wars: Ireland faces fierce global competition as international rivals pile on

US president Joe Biden’s US Inflation Reduction Act and Chips and Science Act have given rise to a high-stakes subsidy race between developed economies

Intels decision to locate a €17 billion “mega-fab” semiconductor plant in the east German city of Magdeburg was a blow to executives here

When Intel announced last year that Ireland had won a €12 billion investment from the US chipmaker, IDA executives knew it was a mere consolation prize, albeit a big one.

While the billions of euro Intel announced it was to pump into its Irish operations represented a huge boon for the country, its decision to locate a €17 billion “mega-fab” semiconductor plant in the east German city of Magdeburg was a blow to executives here.