Dollars for Ireland?

To get its predominantly agricultural economy out of the doldrums, Ireland has long realized that it needs help from the outside. Last week, Deputy Prime Minister William Norton, the Free State Minister of Industry and Commerce, thought he had the answer: tax incentives. Said Norton: "Ireland is prepared to offer new industrial investors concessions, incentives and assistance to an extent that we believe to be the most generous offered by any country."

Norton promised:

P: Repatriation of all profits annually, and in dollars.

P: Duty-free imports of machinery.

P:A 100% tax exemption on mining investments for the first five years.

P:Extra inducements for bringing industry into the western section. Added Norton: "The Irish government will pay for the construction of a new plant in this area, and if an existing structure is used, it will then hand over to the investor as a gift the sum [equivalent] to a new one." So far, added Norton, about half a dozen U.S. prospects--in rayons, textiles, pharmaceuticals, farm machinery, oil refining--have nibbled, plan to go to Ireland for personal surveys.

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