Huge Economic Boost for Moville as North to get 12.5% Company Tax
It has just been announced that Northern Ireland is going to be able to match the Republic with a Corporation Tax rate (equivalent to Ireland’s Company Tax) of 12.5%.
There is great fear in Dublin that some of the big international companies who may, previously, have come to the Republic will now head north to Belfast and Derry.
There is also the fear that some of the giant tech firms already here may move to Northern Ireland now that the Republic will have no tax advantage on the North.
Great News for Moville
Of course, while Dublin may fear this (and correctly so), there should be dancing in the streets of Moville, Carndonagh, Buncrana and Letterkenny, as well as all the other communities in this neck of the world, at this news.
Dublin has never done much for this area, no matter which party was in power.
It used to be said, in the North, that there was no Government spending north of the Bann, although that’s changed now with the peace agreement and Derry man, Martin McGuinness, in such as position of influence in the Government.
However, there always appeared to be a Dublin government policy of no spending north of the North.
Celtic Tiger Never Arrived
The famed Celtic Tiger never got up to these parts and none of the huge multinational firms who came to Ireland, because of the tax rate, were ever encouraged by the Irish Development agency to come anywhere near here.
The property boom that accompanied the Celtic Tiger did get here but with devastating effect eventually.
Because of this lack of spending and lack of any Celtic Tiger activity up here, Moville continually saw its best youngsters drift away from the town, in a massive brain drain, to all parts of the globe.
When people sent their kids to college or university they knew that, for the vast majority of them, the only time they would see them, in the future, would be when they came back to visit.
Derry More Important to Moville Economy
Moville, and Inishowen’s, prosperity depends fare more on Derry’s prosperity than Dublin’s.
We get far more visits here from Derry folk than Dubliners.
This Company Tax cut will be great news for Derry.
Derry is building a Business and Science park, with high-speed broadband, which could potentially see the biggest of companies coming to Derry.
Now that the North will have the same Company Tax as the Republic, Derry should be able to cash in big time.
Jobs for Moville Youngsters with Degrees
That will have a huge knock-on effect on Moville in the coming years in terms of jobs and the Moville economy.
As I said, most young Movillians, who get university degrees, currently have to leave the area to get work commensurate with their degrees.
Also, currently, most of the jobs in Moville are tourist trade jobs with the minimum wage (glad though people are to have them).
High Tech Jobs for Moville’s Youngsters
With a future prosperous Derry there will be many high-tech jobs just up the road from Moville. There will also be a number of ancillary jobs too.
Also, with Derry booming, the people there will have more money in their pockets and will be able to visit Moville more on good days – and spend more when they do.
More of them will be coming here to eat in places like the Rosatos, Inish Fusion, The Clock and the Caiseal Mara as well as in the cafes here.
Commuting to Work in Derry
More of our well-qualified youngster will be able to stay at home in Moville while taking the half-hour daily commute to Derry (20 minutes for some people).
Maybe some of those who are working abroad can come home again too.
This is great news for Moville and the surrounding area.
It’s much better news than any news we could get out of Dublin.
Companies Coming to Derry
Although the low Company Tax won’t start for another two and a half years, Derry, and the North, will be able to start attracting firms to the area now and decisions can be taken before then to come to Derry.
This means that those going to university now will come out to a much better and conducive atmosphere than there is now for skilled jobs.
It would be a good idea if local secondary schools examined the potential impact of this on the area so that they can then give guidance to pupils as to what type of jobs will be available to them, so that local youngsters can choose which degrees to take to best qualify themselves for these new jobs.
This Company Tax Rate cut in the North will be a huge boost to this area and we should be examining the impact to the area now.
This Company Tax cut in the North is massively great news for Moville and its youngsters.
There will be a future for them here now.