Microsoft-owned LinkedIn on Friday announced that it will open a new campus in Dublin, keeping its promise of expanding its base in Ireland. The company had last year said that it aims to add more jobs and would establish a new European head office in that country.
Ireland is fast becoming the new hub for a large number of technology companies from both the United States and Europe. Understandably, LinkedIn's decision to open a new European headquarter in the Irish capital is in a bid to bolster its presence in that continent.
Details of the new office
LinkedIn on Friday signed a 25-year lease that will see the company come up with a campus spanning 430,000 square feet. The deal allows the company to add three adjacent blocks to its new European headquarters. According to Iput, the campus' landlord and one of the biggest owners of office space in Dublin, the tech giant has agreed to add the remaining 40,000 square metres of office space at the Wilton Park area in Dublin.
The new campus is in a bid to strengthen its workforce in Ireland. This will allow the company to increase its workforce in Ireland to around 4,000 employees. LinkedIn in last June had said that it plans to expand its headcount in Ireland to 2,000 from 1,200. Microsoft, separately, has 2,000 workers across Dublin.
Tech companies eyeing Ireland
LinkedIn is not the first tech giant to expand its presence in Ireland. The European market is fast becoming important for tech companies and Ireland has emerged as one of the most preferred locations for them in that continent. In 2018, Facebook signed the largest office lease in the Irish capital boasting a 57,000 square metre campus. The same year, Google also signed a 37,000 square metre office space in Dublin.
The reason behind Ireland fast turning into a new technology hub in Europe for tech companies is because of the low tax rates. In Ireland, the corporate tax is as low as 12.5%, which definitely attractive enough for foreign businesses. According to IDA Ireland, hiring by multinational companies increased 6% in 2019. However, LinkedIn's decision to expand its workforce and add a new campus comes at a time when new global rules are being considered on how and where big tech companies pay taxes.