IFSC
A view of the IFSC as seen from the Millennium Bridge.
IFSC
IFSC
A view of the IFSC as seen from the Millennium Bridge.
The Irish Financial Services Centre is located just north of the River Liffey in the Custom House Docks Area. It was set up in 1987 by the Irish government with the approval of the European Union.
The Custom House Docks Development Authority was established to organise the process of turning the 11 hectares of land in the docklands into the IFSC. This area was later called IFSC1.
Building the site commenced in 1988 and two years later Allied Irish Banks were established in the fully completed Western Block. By 1997, there was 114,000 square metres of office space, over 300 apartments, a hotel and many shops in the area.
Dublin Docklands Development Authority
Docklands
Beginning in 1987 much of this area has become the most extensive re-development zone in Dublin City.
Courtesy of Rory HornerDocklands
Courtesy of Rory Horner
Courtesy of Rory Horner
Docklands
Beginning in 1987 much of this area has become the most extensive re-development zone in Dublin City.
Courtesy of Rory HornerThe Dublin Docklands Development Authority was created in 1997. Its aim was to continue with the development of IFSC1 and to help create IFSC2.
4.8 hectares of land has been developed to include more office space, more hotels and restaurants, a creche and most significantly the National College of Ireland, which was officially opened in April 2003.
Employment
The IFSC was established to help increase employment and strengthen the Irish economy. The government felt that the time was right to make the most of our country's young and well-educated population. In the past many of these had to go abroad to find suitable work but thankfully that trend weakened with the creation of the IFSC.
The IFSC plays a very important role in the Irish economy. For example, in 2002 the Irish government collected over €700m in corporation tax (tax collected from banks etc.) from companies located in the IFSC.
Half of the world's Top 50 banks have decided to locate their businesses in the IFSC. At present, there are approximately 10,700 people employed in the IFSC and this figure is expected to rise further.