herald

Wednesday 18 October 2017

161,000 of us are now working at IDA firms

Companies supported by the IDA now employ a record number of people, the agency said yesterday.

The foreign direct investment agency added that the omens were good for the year ahead after 100 companies told the agency that they expect to either move here or expand. This will create more than 8,000 jobs.

That's about a thousand jobs more than the same period last year and follows a burst of activity at the agency which has seen major announcements from the likes of Deutsche Bank, Symantec and eBay.

In an update on its work for the first half of 2014, the IDA said new companies continue to move here. Around 40pc of the new investment comes from foreign firms that are moving operations here for the first time.

The investments were across a range of sectors, including technology, life sciences, financial services and digital media, and across a number of counties.

Dublin is the biggest beneficiary, attracting companies such as US bed and breakfast company Airbnb and Deutsche Bank which are bringing 700 jobs to the capital.

The annual report for 2013, also published yesterday, shows that there were 161,112 people working for 1,100 IDA client companies in Ireland.

economy

These firms export €121bn of goods and services each year and spend €12.5bn in the domestic economy.

Out-going chief executive Barry O'Leary said the Government could do more to help foreign investment by cutting income tax.

Mr O'Leary played down the importance of the EU Commission's probe into the tax affairs of Apple here, saying the record job creation shows companies are not anxious about tax matters.

hnews@herald.ie

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