Cork City named number one small city in Europe for FDI strategy
22/02/2024
These flagship Financial Times awards benchmark European cities and regions according to their economic, financial, and business strengths, considering a wide variety of inputs.
Cork City beat off stiff competition in the highly competitive small city category, which includes well established business cities like Geneva, Cambridge, Basel and Luxembourg. In addition to placing first for FDI strategy, Cork was placed:
2nd in Europe for economic potential
3rd in Europe for business friendliness
4th overall in the small European category
Topping the rankings for Foreign Direct Investment strategy represents a ringing endorsement of the policies that have seen over 200 major international companies establish a presence in Cork. The Cork City Council-led application highlighted the region's strategy of working closely with FDI partners like the I.D.A and Enterprise Ireland, in addition to close ties between industry and the city's educational partners.
The successful award application also highlighted the cities advanced sustainability plans and use of the We are Cork place brand, a multi-stakeholder Cork brand which communicates the ease and benefits of doing business in Cork. The place brand highlights Cork’s strengths regarding the number of desirable graduates coming out the cities two universities every year while showcasing the city as a place to Live, Work and Invest.
Cork City Council Director of Services for Strategic and Economic Development Fearghal Reidy said: "‘This accolade reflects the attractiveness of Cork as a place to invest and do business, a testament to quality of life in Cork along with the top-class education, research and industrial supports available in the city."