Business Irish

Sunday 23 October 2016

IDA and Irish Film Board target Irish-filled Oscars for foreign direct investment

Published 22/02/2016 | 11:19

Leading man: Michael Fassbender as the Apple founder in new movie Steve Jobs
Leading man: Michael Fassbender as the Apple founder in new movie Steve Jobs

IDA Ireland and the Irish Film Board (IFB) are to take advantage of Ireland's significant presence at this year's Oscars ceremony to attract US film-makers here.

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Both organisations are entering into a heavy schedule of meetings between themselves and US studios, distributors, talent agents, content platforms, film financiers, and entertainment technology companies.

With both Room and Brooklyn representing Ireland at this year's academy awards, the agencies will look to attract firms using the success of Irish exploits.

Speaking about the upcoming awards, chief executive of the IFB, James Hickey, said Ireland is entering into a watershed period for Irish film.

"The eyes of the film world truly are on us and in Hollywood next week our message will be clear – the Irish film sector is a world player in creativity and technical skills.

"Ireland is at the nexus of technology and innovation; we can offer international productions access to attractive incentives, unrivalled landscapes, developed infrastructure and a pool of wonderful and experienced creative talent.

"The opportunity to work with the IDA opens up additional networks to those we already have and brings further strength to our proposition about the benefits of Ireland and Irish creative talent," Mr Hickey said.

The IDA will look to use the opportunity to further the country's name as an innovative hub.

The agency's chief executive, Martin Shanahan, is optimistic about attracting foreign direct investment from the entertainment industry.

"The Irish film sector is estimated to be worth in excess of half a billion in turnover annually. It’s already an important employer in Ireland, and it has significant potential for growth.

"Government incentives like the Section 481 Tax Credit and Ireland’s open stable corporate tax regime at 12.5pc are valuable differentiators when we are promoting Ireland abroad; equally so is our reputation for being a global hub for technology and software talent, and our track record in creativity speaks for itself," Mr Shanahan said.

This year's Academy Awards will take place this Sunday, February 28. Amongst the nominees are Room, which was directed by Dubliner, Lenny Abrahamson, and Brooklyn, starring Saoirse Ronan, as well as Michael Fassbender's performance in Jobs.

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