MULTI-NATIONAL COMPANIES created almost 11,000 jobs in Ireland last year – well in excess of 2009’s outcome of 4,615 jobs - according to the end of year statement by Ireland’s Industrial Development Agency (IDA).
However, the statement also shows that there were 9,545 jobs lost within IDA-supported companies.
Read the full IDA report here.
The IDA says that increased investment in Ireland from the world’s leading multinationals and emerging companies, in spite of the global economic uncertainty, contributed to job creation.
A total of 126 foreign direct investments were won in 2010, with 47 companies investing in Ireland for the first time – up 20 per cent on 2009. Investment in Research, Development and Innovation (RD&I) was over €500million.
Amongst those investing in Ireland for the first time in 2010 were D&B, Telefonica, Warner Chilcott, LinkedIn, EA, Riot Games, Webroot, FC Stone, Spencer Stuart, Fi-Tek, Genband, Synchronoss, Aspect, Streamserve and IIR.
Many of IDA’s existing and new clients were also actively recruiting in Ireland, including HP, Accenture, Citi, Google, Facebook, Eli Lilly and MSD.
There has been renewed investment in manufacturing, which the IDA says is partly due to Ireland’s improving competitiveness. There has also been strong growth in employment intensive services investments.
IDA Ireland CEO Barry O’Leary said: ”Most encouraging is the substantial increase in the scale of these investments from many of the world’s leading companies. In the past year the job numbers within investments secured show a marked increase, with the average employment per investment double the 2009 level. Export led growth is feeding through in the employment portfolio of IDA’s clients”.
The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe TD welcomed the results today, saying: ”Despite the period of global recession over the past two years our value proposition to multinational firms either operating here or choosing to hub in Ireland for the first time remains one of the strongest in the world.”
He added: “The combined influence of Ireland’s increased competitiveness, commitment to our 12.5% corporate tax rate, and quick and decisive measures taken by the Government to combat the challenging economic situation has resulted in an excellent flow of foreign direct investment.”