IDA 2014 stats show overall growth in Ireland
IDA Ireland, the country’s industrial development agency, has released its annual figures for 2014, announcing that 15,012 new jobs were created by IDA Ireland client companies. Taking into account job losses of 7,881 from IDA client companies, there remained a very healthy increase of 7,131 jobs from client companies. The total employment in Ireland of IDA client companies now stands at a record high, just short of 175,000.
The IDA is an Irish government agency tasked with attracting foreign direct investment (FDI) into Ireland. For over 60 years the IDA has worked across the globe to attract inward investment and job creation to Ireland, becoming a key influencer on the development of the Irish economy and of Ireland’s reputation abroad. Investment in 2014 increased by 20% over 2013 with a number of big names setting up shop or continuing their investment in Ireland. A number of these companies made headlines in Ireland through job announcements, including Amazon, LinkedIn, Air BnB and Bristol Myers Squibb.
In a statement released this week Irish Minister for Jobs, Enterprise and Innovation Richard Bruton
“Foreign direct investment is a central part of our Action Plan for Jobs. Multinational companies account for almost 10% of the Irish workforce and are of crucial strategic importance for the economy…Today’s results show that a record 7,131 extra jobs were added by multinational companies supported by IDA in 2014. This means that 25,000 extra people are at work in these companies compared to 2011 – with massive knock-on impact for the economy.”
This growth in IDA company jobs is paralleled by the continued recovery of the Irish economy more generally. There was a 1.6% decrease in Live Register numbers from December 2013 to December 2014, from 12.2% to 10.6%. In terms of employment there was a total increase of 27,700 between fall 2013 and 2014.
According to a report on the Journal.ie, the biggest job increases were in Dublin and the South West of the country, with most other regions not reaching their growth targets. The IDA is now finalizing a five year plan to see them through the last phase of the Horizon 2020 initiative. Chief Executive of the IDA Martin Shanahan said: “Based on the immediate IDA pipeline, covering the first quarter of 2015, we are optimistic about the future flow of investment into Ireland. In relation to the remainder of the year we are cautiously optimistic Ireland is in a good position to win significant business across a range of sectors.”