IDA enjoys 10-year high for job creation

IDA Ireland has reported its best job-creation numbers in 10 years — with 6,000 net jobs added during 2011 — and expects a repeat performance this year.

In total, more than 13,000 jobs were created by IDA client companies last year, with the net figure — after job losses are taken into account — coming in at around 6,000 positions. This is the best yearly performance since 2002, the agency said yesterday at the launch of its annual report.

Last year also boasted the lowest number of job losses for a single year in over a decade and — at 148 — a record total of investments won. As many as 61 overseas companies invested in Ireland for the first time during 2011.

The agency also updated on its progress to date this year — saying that more than 5,000 jobs were created during the first six months of 2012.

Chief executive Barry O’Leary said while it was too early to offer concrete forecasts for 2012, as a whole, the best early estimate would be for net job creation to be in line with last year. He said that on the job losses side, for this year, the best estimate would be around 2,000.

The 2012 jobs have been evident in sectors such as IT, life sciences, digital media and international financial services — via companies such as Paypal, Apple, Mastercard, SAP, Lilly, Allergan andMicrosoft.

The IDA noted the new investments had been won despite a notable increase in competition from rival countries for FDI (foreign direct investment) and the ongoing financial downturn. It warned that “challenging headwinds” continue to face Ireland — in the form of increasing international competition from other European countries (including Germany and Britain) and slow growth in the US, China and India.

“However,” Mr O’Leary said, “IDA remains optimistic that Ireland can continue to win significant FDI, building on our strong track record.”

He said the agency was still targeting “a number of sectors” that were likely to continue growing, like digital media, life sciences and IT.

Noting that the IDA was now in its third consecutive year of employment growth — among client companies — Mr O’Leary said: “Even in areas of low or no growth, opportunities will arise in sectors, such as the consolidation of technology and operations hubs in global financial institutions, and consolidation of operations in a number of other sectors.”