Pre-tax profits at the Irish R&D arm of chip giant Intel increased by 10 per cent to $5.4million in 2011, according to newly filed accounts for the company.
Researchers at Intel’s ‘Irish Design Centre’ are engaged in developing the most advanced silicon technology on the planet and new figures show that revenues at the firm increased by 9.5 per cent to €59.3million in 2011. A spokeswoman for Intel Ireland said yesterday: “Intel Shannon continues to provide a valued contribution in the embedded marketplace and the team continues to deliver world-class products to our customers.
A lot of the profits were thanks to sweeteners from the Irish government. The government paid €3.5 million in grant aid funding to Intel Shannon bringing to a total of €9.57 million the grant aid paid to the firm by the agency. The payments to the firm in 2011 accounted for over half of the grant payments made by Shannon Development to all firms in the Shannon Free Zone that year. The company’s operating profits increased by 10 per cent in 2011, to $5.38 million.