Microelectronics jobs boom

MUNSTER, and more specifically Cork, looks set for a jobs bonanza as the principal hub of Ireland’s surging microelectronics sector.

There are 26 companies from the sector based in Cork as well as a €6 billion Microelectronics Technology Centre based in the southern capital. Earlier this week, the Microelectronics Industry Design Association (MIDAS) predicted that the sector will add another 2,000 high-end jobs to the 8,000 already employed in the sector nationally.

The story behind that story is that each job in the sector contributes a further €500,000 to the Irish economy. Jobs within the industry are high value roles with over 90% of the indigenous positions in R&D. Indeed, there are already 35 indigenous microelectronic companies in Ireland with combined annual revenue of €70m.

Earlier this week, MIDAS Ireland and ON Semiconductor announced 69 new jobs and a €13m investment in an expanded R&D facility based in Limerick.

A total of 100 high-end jobs are currently available in Midas member companies, a significant number of those in Cork. All of the sector’s jobs are posted on the newly launched virtual jobs centre, Midasireland.ie/jobscentre.

Speaking during Microelectronics Week, which concludes today, Innovation Minister Sean Sherlock said the new virtual job centre will help industry connect with those that have the requisite skills for the sector.

The microelectronics sector is directly responsible for generating €6bn in exports annually. Crucially, in these cash-strapped times, investors see the sector as rich in potential. Irish microelectronic start-ups have attracted over €68m in venture capital funding in the past two years.