IDA report record levels of investment in Ireland
Date: 05 January 2012IDA reports record levels of investment in Ireland in their end of year statement 2011.
- Over 13,000 new jobs created across diverse range of exporting sectors
- Increased investment in Ireland by world’s leading multinational and emerging companies
- Export led growth creating employment
- Record number of investments won - 148 secured
- 30% increase in companies investing in Ireland for the first time
- Strong export performance, contributing c.€115bn – over 70% of Ireland’s exports
- FDI employment opportunities relevance in CAO selection
2011 saw a strong performance in the level of foreign direct investment (FDI) won by Ireland. IDA client companies created over 13,000 new jobs in 2011, up 20% on the previous year’s level of 10,897, increasing the total number of those employed directly by IDA client companies to almost 146,000.
There was an overall increase of 17% in the number of investments from IDA client companies in 2011 and despite the current global economic situation and a strong increase in international competition, there was a record number of 148 new investments won during the year across all industry segments. Most encouragingly, there was an increase of 30% in the number of companies investing in Ireland for the first time.
Amongst the significant investments in Ireland in 2011 were announcements by Twitter, Intel, IBM, Coca-Cola, Amgen, Pfizer, MSD, PayPal, Fidelity, HedgeServe, VMware, EA/Bioware, Prometric, Sumitomo (JRI America), Harmac, Analog Devices and Gilt Groupe.
Welcoming the results, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said,
“These results represent a very significant achievement at a very difficult time in the employment market. Not only has the number of new jobs increased substantially, but just as importantly the number of jobs lost has decreased, leaving a very healthy net employment increase of [6000/6114] in government-supported multinationals in 2011.”
"If we are to create the numbers of new jobs we need in order to address the massive employment challenges we face, we must build aggressively on the major strengths we have in the foreign multinational sector. Through this month's Action Plan for Jobs I will be using these strengths both to support our indigenous companies and to attract ever more dynamic multinational operations to Ireland. In this way we can ensure that we build on 2011's major achievements and address the jobs crisis in a real way".
IDA Ireland CEO, Barry O’Leary said,
“Ireland continued to win significant foreign direct investment in 2011, despite a difficult economic environment. Most encouraging has been the increase in job numbers and the rise in the number of investments from IDA client companies.”
“Export led growth, particularly in services, is adding to the employment portfolio of IDA’s clients, which created over 13,000 new jobs in 2011. This represents a 20% increase on last year. Job losses were at their lowest in over a decade leading to the best net jobs increase in over 10 years. The ICT, lifesciences, financial services, business services and digital media sectors made up for the majority of the new jobs.”
Investment Highlights
- Over 13,000 new jobs created, up 20% on 2010
- A record total of 148 investments won, up 17% on the previous year
- 61 new companies investing in Ireland for the first time, up 30% on 2010
- €115 billion (over 70%) of Irish exports from IDA client companies
- C. €700 million in new R&D investment
- Over 70% of corporation tax in Ireland paid by IDA client companies ,
- IDA client companies spend €19 billion in the Irish economy
- IDA client companies paid €6.9 billion in payroll
- Two-thirds of business -spend on research & development is by IDA client companies.
Source IDA Ireland
