Shannon RegionIreland’s Strategic Tourism Investment Location

www.ShannonDevelopment.ie

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Ireland’s Shannon RegionTheregionhasbeenattheforefrontofeconomicdevelopmentsince1959andhaspioneeredmanyinnovativeeconomicinitiativesincluding:

• TheShannonFreeZone

• ShannonMedievalBanquets

• ThedevelopmentoftheBunrattyCastleFolkParkproduct

• NationalTechnologicalPark,locatedontheUniversityofLimerickcampus

• ShannonWorldAviationPark

• RegionalTechnologyParks

• ShannonHeritageportfolioofvisitorattractions

Ireland’s Tourism IndustryTourisminIrelandisstrategicallyimportantandisarguablyIreland’sbiggestemployerwithlatestestimatessuggestingthat200,000areemployedintheindustry.Despiterecentchallenges,Irelandattractedapproximately6.5millionvisitorsin2009andtheindustrygeneratedapproximately€5.2billionfortheeconomy.Thekeytothefuturegrowthofthetourismindustryiscontinuinginnovationanddevelopment,incompetitivelocationssuchastheShannonRegion.

TheIrishGovernmenthavepioneeredtheforeigndirectinvestmentintoIrelandwithover1200overseascompanieschoosingIrelandastheirbase,approximatelyhalfofwhichareofNorthAmericanorigin.

Shannon International Airport and Shannon EstuaryShannonInternationalAirportwithitsrecentlyexpanded€58mterminal,offersdirecttransatlanticservicestoNorthAmericaaswellasregularshuttlestoLondonHeathrow.Additionally,ithasawidenetworkofservicestoIrish,UKandEuropeanairportsonafrequentbasis.TheNorthAmericanmarketforbothscheduledandprivateservicesisexpectedtogrowsubstantiallyasaresultoftherecentinter-governmentalagreementonpre-clearancebetweentheUSandIrishGovernments.

TheShannonEstuarywhichisover60mileslong,isoneofthesafestdeepwaterestuariesinWesternEuropeandregularlycatersforshipsofupto180,000Dwt.ItcanprovideharbourandvisitorfacilitiesatFoynesforcruiseshipoperationsandthroughtheintegratedtourismofferinguniquetotheShannonRegionandShannonInternationalAirport,canofferaturnportfacilityforNorthAmericanvisitorsorcrew,whowishtojoinordeparttheshipsinIreland.

Shannon DevelopmentShannonDevelopmentisIreland’sonlydedicatedregional

developmentagency.Establishedin1959,itisresponsibleforeconomicdevelopmentintheShannonRegionandprovidesanintegratedresponseincorporatingtourism,propertysolutionsandinwardinvestmentadvice.Ithasatrackrecordofsuccessfulinnovationintourism

includingtheBunrattyCastle&FolkParkconceptandBunrattyMedievalBanquetoperations,tomentionafew.

Membership of the European Union and European Monetary Union

Shannon Development have pioneered innovative and competitive tourism concepts, including Bunratty Medieval Banquets and tourism FDI such as Doonbeg Golf Resort

Business friendly and cost competitive environment

Young, skilled and friendly workforceInvestment Opportunities in Ireland’s Shannon RegionTheShannonRegioncanofferasuiteofincentivesincludingalowcorporationtaxrateof12.5%,specialtaxincentivepackagesforcapitalinvestmentandasofAugust2009,atShannonInternationalAirport,theonlyUSCustoms,Pre-ImmigrationandAgricultureClearancefacilitytobelocatedinEurope.Thisstrategicapproachisaimedatprovidingadirectandcomprehensiverangeoffacilitiesandincentivesgearedatgivingthetourismrelatedinvestor,acompetitiveadvantagebylocatingintheShannonRegion.

Foreign Direct Tourism Investment

Lowest corporation Tax Rates in Western Europe at 12.5%Ireland’sCorporationtaxrateof12.5%isthelowestintheEUwiththeexceptionofCyprus.Thisrateappliestoalltradingincome.Ireland’scorporationtaxrateonpassiveincomeis25%andcapitalgainstaxis25%.Thereisanextensivedoubletaxationtreatynetworkinplaceandotherincentivesrelatingtodividendredistribution,grouprelief,exemptionsoncertainpatentroyaltiesandregulationsrelating

tocontrolledforeigncorporationrulesandanattractiveholdingcompanyregime,arealsoavailable.Fulldetailsontheseincentivesandhowtheywouldapplytoyourpotentialproposal,areavailablefromShannonDevelopment.

Shannon International Airport — US Customs and Border Protection Zone

Full US Pre Immigration Customs and Agriculture facilities for Europe at Shannon International AirportInNovember2008,theDirectorofUSHomelandSecurityandtheIrishGovernmentsignedanInter-GovernmentalAgreementrelatingtoairtravelbetweenIrelandandNorthAmerica.Thishasleadtotheexpansionofthepre-clearancefacilityatShannonInternationalAirportbyprovidingtheonlypre-clearancefacilityforUSImmigration,CustomsandAgricultureinEuropeforscheduledandchartercommercialairlineflights.Itcanalsoallowfullpre-clearanceforprivateaircraftflightstotheUSfromShannonInternationalAirport.

SignificantbusinessopportunitieswillarisetodevelopnewinnovativetourismandtrafficbusinessesresultingfromthebenefitsaccruingfromthisInter-GovernmentalAgreement,includingfasteraircraftturnaround,opportunitiesforprivatejetstoprecleartoanyairportinNorthAmerica,improvedcostcontrolsandsynergiesforbusinessesoperatingintotheNorthAmericanmarket.

Ireland’s Shannon Region, a world class location, driven by innovation and investment

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Low Corporation Tax Rate of 12.5%Young, skilled and friendly workforce

Successful location for Tourism FDI

Development Opportunities Inrecentyears,theShannonRegionandIreland’swestcoasthasseensignificantinwardinvestmentintourismproductsandinfrastructure.Mostnotablehasbeentheinvestmentof€150mintheDoonbegGolfResortdesignedbyGregNormanandundertakenbyKiawahDevelopmentPartnersbetween2000&2006.Othernotableinvestmentsandproductsinclude5*luxuryresortsatDromolandCastleandAdareManoramongothers.TheShannonRegionandtheIrishtourismindustrywiththeirproductoffering,infrastructureandlocation,iswellpositionedforyourbusinessneeds.

New Mobile Tourism Investment Product Opportunities

Grant IncentivesShannonDevelopmentisadesignatedgovernmentagencywiththeauthoritytoprovidedirectfinancialassistancetocompanieswishingtolocateinShannonorexpandtheirexistingoperationshere.Theuniquecharacteristicsofanyproposedprojectwilldeterminetheincentivepackageavailable,inparticularthetypeofeconomicactivitybeingcarriedoutandtheprojectlocation.Thetypesofgrantsthatmaybeavailableincludetraining,researchanddevelopment(R&D),capitalandemploymentgrants.

Property SolutionsShannonDevelopmentisakeydriverforeconomicinfrastructuredevelopmentintheRegionandisactivelyengagedinarangeofactivitiesincludingpropertysolutions,broadbandprovisionandenergyprojects.Wecanofferpotentialinvestorsawidespectrumofflexiblepropertysolutions,rangingfromthesaleoffully-servicedlandsitestopropertiesavailabletolease,e.g.manufacturing,logistics,distributioncentres,aswellasmodernofficeunitsandsuites.

Tax Exemption for Start-up Companies:Certainstartupcompanieswhichcommencetotradein2010willbeexemptfromcorporationtaxontheirtradingprofitsforthefirstthreeyearsoftrading,totheextentthattheirtaxliabilitydoesnotexceed€40,000inanaccountingperiod.Thereliefissubjecttoconditions.

Research & Development IncentivesSignificanttaxreliefsareavailabletoIrishtax-residentcompanieswhoengageinqualifyingresearchanddevelopmentactivities.ThereliefsareavailableintheformoftaxcreditsandinsomecertainlimitedcircumstancesintheformofarepaymentfromtheRevenueCommissioners.

Investment Opportunities and Incentives

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Ireland’s Shannon Region located on

the West Coast, offers a world class location for all

tourism activities. With a population of over 400,000

people, visitor flows in excess of 2m per annum and key

infrastructural assets including Shannon International

Airport and the Shannon Estuary Deepwater Zone,

a well educated and skilled workforce, a track record

of tourism innovation and inward tourism investment,

Ireland’s Shannon Region can provide an integrated and

comprehensive tourism investment offering.

Young, skilled and friendly workforce

Belfast

Dublin

Cork

Galway

Limerick

Limerick

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Why Ireland’s Shannon Region?

• AlowCorporationTaxrateof12.5%,resultinginhighinvestmentreturns

• TrackrecordasasuccessfullocationforFDI

• Young,skilledandfriendlyworkforce

• Businessfriendlyandcostcompetitiveenvironment

• Trackrecordofpioneeringsuccessfulandinnovativetourismconcepts

• AdvancedinfrastructuresuchasShannonInternationalAirportandShannonEstuaryDeepwaterZone

• MembershipoftheEuropeanUnionandEuropeanMonetaryUnion

• Oneofthebesteducationsystemsintheworld

• Highperformingtourismregion

Forfurtherinformationpleasecontact:

ShannonTourismInvestmentTeam

TourismProductDevelopment

ShannonDevelopment

Shannon

CoClare,Ireland

Tel: +353 61361555

Fax: +353 61363180

Email:tourisminvestments@ShannonDevelopment.ie

Web:www.ShannonDevelopment.ie/tourism

Advanced infrastructure

Pioneering successful and innovative tourism conceptsYoung, skilled and friendly workforce

Successful location for tourism FDI

The Irish Government have pioneered foreign direct investment into Ireland, with over 1,200 overseas companies choosing Ireland as their base

Theinformationcontainedinthispublicationisintendedasasummaryonly.Whileeverycarehasbeentakeninitsproduction,noresponsibilityistakenbyShannonDevelopmentoritsauthororothercontributorsforanyerrorsoromissions.Professionaladviceshouldbesoughtinallcases.

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