Taskforce in job talks with up to 50 investors

A taskforce that offers a cash reward to people who persuade foreign companies to create jobs in Ireland is in talks with up to 50 potential investors.

ConnectIreland, set up two weeks ago, said talks are already at a very advanced stage with dozens of companies.

But Orla Nolan, ConnectIreland’s business development manager, declined to comment any further.

“We are in serious talks with these companies, which are based in America, South America and across Europe,” she said.

“The signs are very good. We’ve been asked to create 5,000 jobs over the next five years, which is a very ambitious target.

“But if things continue as they are now, we’re on track to succeed.”

Ms Nolan was speaking during a briefing for Cork’s city councillors on ConnectIreland’s work.

The body, backed by taxback.com entrepreneur Terry Clune, was appointed by IDA Ireland to deliver the Government’s Succeed in Ireland initiative, which aims to increase foreign direct investment.

It wants Irish people to consider their contacts and connections abroad and identify small-to-medium firms which are considering expansion.

Ms Nolan said that while the IDA targets global giants, ConnectIreland targets “the smaller fish” which have the potential to create between five and 30 jobs.

If a company that has been introduced to the scheme goes on to invest in Ireland, the person who made the connection gets a cash reward.

ConnectIreland will pay €1,500 for every job created subject to a minimum of three jobs, and a maximum of 100 jobs.

The reward is payable over a two-year period, half at the end of the first year and the balance in the second year.

Ms Nolan said that ConnectIreland will ensure a regional spread of the jobs.

ConnectIreland has been endorsed by the dancer Michael Flatley, film star Saoirse Ronan, and screen legend Martin Sheen.