More jobs lost than gained last year in IDA-backed firms
Reflecting a likely downturn in the economy, it was the first time since 2003 that the IDA saw more jobs lost from grant-aided companies than were gained. A total of 20,114 people were employed in IDA companies in Cork city and county at the end of last year. The authority managed to create 1,522 jobs, but there was a job loss of 150 when compared with 2006 figures.
In that year the IDA managed to create 2,057 jobs.
But 2007 losses were brought about by the closure of eight companies.
A further worry was that there are just 134 IDA-backed companies in the city and county, dropping by seven from a peak of 141 in 2005.
However, according to the statistics released by Mr Martin, the number of people employed in IDA companies in Cork has risen over the past 10 years from 12,449 to 20,114.
The minister said that recent announcements by companies including Blizzard, SolarWinds and Apex would improve employment figures in the county.
“In addition to attracting new foreign direct investment, the IDA continues to work closely with its existing clients in Cork to encourage expansion of their operations,” the minister said.
Although Kerry has a much smaller number of IDA-backed companies, it faired better in the job creation stakes.
Last year, the county’s 16 IDA-backed companies created an additional 120 jobs. Job losses were just 49 leaving the total employed in the companies at 1,838.
It was the lowest number of IDA company job losses in the county in recent years.
Mr Martin said that recognition under the National Spatial Strategy of the importance of Killarney and Tralee as linked “hub towns” would assist the IDA in promoting the region for inward investment.
“It will also assist in the development of the necessary critical mass needed in terms of population, skills and infrastructure,” he said.
But Mr Martin said that over recent years it had proved challenging to maintain and attract overseas manufacturing companies to the county as much of this investment is going to low-cost destinations such as Eastern and Central Europe and China.
However, the availability of first-class business parks, the Institute of Technology in Tralee and a regional airport, he said, were positives which would attract companies.
