Facebook expanding in Ireland

Facebook is expanding its Europe, Middle East and Africa headquarters in Ireland, quadrupling its current floor space and adding the capacity for an additional 5,000 employees, according to The Independent Ireland.

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The new office will be at the AIB Bank Center in Ballsbridge, a Dublin neighborhood, and will have 870,000 square feet of floor space.

By the end of 2018, there will be over 4,000 people working for Facebook in Ireland.

Gareth Lambe, head of Facebook Ireland told The Independent, "Ireland is one of the best places in the world to be a technology company and we're investing here for the long term ……This significant investment in a 14-acre campus with capacity for thousands more employees demonstrates our commitment to Ireland, our desire to grow our business here and continue to contribute to the economy."

Ireland has attracted numerous companies, particularly pharmaceutical and tech companies. Competitive taxes and a skilled workforce are cited as reasons corporations have decided to set up shop in the country.

According to ADA Ireland, the country has a 12.5 percent corporate tax rate, and 25 percent research and development tax credit among other features.

Facebook hadn’t responded to FOX Business’ request for comment by the time this article was published.