IDA firms create 7,000 jobs

IDA-affiliated companies created over 7,000 net new jobs during 2013 — the highest level of job creation seen for more than 10 years.

In gross terms, before job losses were taken into account, new job creation levels amongst the agency’s client firms numbered 13,367, with an 18% rise in first-time investors to Ireland also noted. Last year’s job losses numbered 6,296; slightly up from the 6,125 in 2012, with the full net job creation figure 7,071.

Speaking on the back of the publication of the agency’s end-of-year report, outgoing IDA chief Barry O’Leary said that 2013’s job performance was delivered against a particularly challenging European economic environment, but leaves the IDA “firmly on track” to exceed its own Horizon 2020 strategy targets.

“IDA is delivering on its plans, as publicly outlined in its strategy, and that delivery has taken place against a very challenging external environment. It was particularly pleasing to see such a high representation of European companies — Deutsche Bank, Sanofi, Zurich and Novartis — in the 2013 project wins,” he said.

Furthermore, 2013 marked the IDA’s fourth consecutive year of jobs growth via client firms, with 50,000 gross jobs created over that timeframe. Total combined employment amongst IDA-related companies stands at 161,112; the highest on record.

Last year saw 164 investment projects announced, 78 coming from companies investing here for the first time; 27 being research, development and innovation projects and 59 expansions to existing investments.

Mr O’Leary said Ireland is entering 2014 in “a far stronger position than in recent years”, and European economic growth bodes well for the country’s prospects as most client firms come to Ireland in order to service the wider European market.

The IDA also confirmed Mr O’Leary will be leaving the agency during 2014, something mentioned by new chairman Frank Ryan at an Oireachtas Committee last month. The search for a new CEO is set to begin in the coming months.

At last month’s Dáil Committee, Mr Ryan also highlighted the need for a broadening of the regional spread of incoming multinational jobs and investment and a look at new types of foreign direct investment.

The agency said yesterday that it was “examining future opportunities” to bring new forms of FDI into the country. It also said that it plans to start building new property capacity in regional locations; including Waterford, Athlone and Letterkenny and is reviewing available property stock in places like Limerick and Galway.