The Finance Act of 1986 created incentives for urban renewal. Another tax break was established the following year for financial companies. These events gave birth to the International Financial Services Centre. Starting in 1988, the IFSC constructed several buildings with over three million square feet of office space to accommodate international banks, insurance companies and related businesses. They also offer shared services. The concept was successful but was diminished during the financial crisis. The IFSC accommodates about 500 firms with more than 35,000 employees. The IFSC House is a one of the buildings in the complex occupying the former Dublin docks.
