With a GDP of 39.3 billion EUR, Cork is one of the most important industrial and economic centers in Ireland. One of the sectors which plays an integral role in the economy of Cork is IT. Some of the biggest international computer corporations including Apple, Amazon, McAfee and Motorola have their Irish headquarters in the city. Another big business which thrives in the city is the pharmaceutical industry. The Little Island district of Cork is home to a great many pharmaceutical company headquarters, and many residents of Cork find employment within the industry. In addition to these, Cork produces 25% of Ireland’s energy and is home to the country’s only oil refinery. A large number of expats living in the city find work in the retail sector. Since 2005, almost 700 million EUR has been invested into retail parks and shopping centers.
For casual work in sectors such as retail and hospitality, expats can keep an eye out for advertisements in shop, café, pub and restaurant windows. This is a common way for businesses to advertise vacancies in Cork and is well worth looking out for. Alternatively, job seekers should obtain as many copies as possible of local newspapers such as the Evening Echo and read through the extensive job listing pages. Another highly useful resource for finding employment in Cork is to look online. More and more companies are advertising their job vacancies on the internet, on websites such as Irish Jobs and Cork Jobs.
All income earned or profits made in Cork is liable to be taxed. Employers are required by law to use the PAYE system and deduct the necessary taxes from their employees’ wages. The amount of tax that a person is eligible to pay depends on the amount earned and is divided into two rates. Individuals earning up to 32,800 EUR and married couples or civil partners up to 41,800 EUR are charged an income tax rate of 20%. Anyone earning above these amounts is charged the higher bracket of 40%. Certain earners in Cork are granted tax exemptions and benefits, for example, single parent families receive a reduced rate of tax. Any single or widowed person aged 65 and over who earns up to 18,000 EUR per year is entirely exempt from paying any income tax.