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IDA sees lowest number of job losses in over 10 years

Over 12,700 new jobs were created at IDA supported companies in 2012. 6,152 jobs were lost though...
Newstalk
Newstalk

11.34 7 Jan 2013


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IDA sees lowest number of job...

IDA sees lowest number of job losses in over 10 years

Newstalk
Newstalk

11.34 7 Jan 2013


Share this article


Over 12,700 new jobs were created at IDA supported companies in 2012.

6,152 jobs were lost though leaving a net figure of 6,570 new jobs last year.

That is the lowest level of job losses at IDA client companies in a decade and the highest net job creation figure in 10 years.

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In total there were 145 individual investments, with 66 (over 40%) from companies coming to Ireland for the first time.

The biggest investments came from companies like Apple, PayPal and Northern Trust.

Largest number employed since 2008

Over 152,000 people are now employed by IDA client companies which is the highest number since before the financial crisis in 2008.

The body says Ireland has also established a footprint in high growth markets such as China and India over recent years and remains committed to the goal of securing 20% of all green field investments from high growth markets by 2014.

Forfas recently measured the contribution of Irish foreign multi-national companies to the economy in its Annual Business Survey of Expenditure in Ireland (ABSEI).

This found that:

  • IDA client exports increased by 7.5% in 2011, faster than the national average of 5.7%.
  • IDA client companies spent €18.8bn in the Irish economy, an increase of 10% when compared with 2010 data.
  • Payroll expenditure increased from €7.0bn to €7.3bn.
  • Expenditure on Irish sourced materials increased from €1.5bn to €1.7bn.
  • IDA client companies spent €9.6bn on Irish sourced services up from €8.5bn in 2010

Chief Executive of IDA Ireland Barry O'Leary said they hope to create another net figure of 6,500 new jobs in 2013 and he said there are a number of new projects in the pipeline.

"Amid significant economic challenges globally and locally, Ireland turned in a strong FDI performance in 2012 with gains in employment across a broad range of sectors" he said.

"Helping FDI clients to transform their operations within Ireland also led to a significant reduction in employment losses, producing a strong year overall" he added.

Speaking at the launch of the IDA report the Minister for Jobs, Enterprise and Innovation Richard Bruton expressed his satisfaction with the figures, saying Ireland has "surpassed" the job creation figures for 2011 and described them as a "vote of confidence" in the Irish economy.


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