I understand from the IDA that the cost per job created and sustained for IDA companies over the period 1986 to 1992 was £10,832 for indigenous firms and £17,986 for foreign firms, including overseas companies in the mid-west for which IDA has responsibility.
These cost per job figures reflect, in constant 1992 prices, the sum of all IDA grant payments over a seven year period, divided by the number of first time jobs created and still in existence at the end of that seven year period.
The IDA defines a first time job as the increase in employment in a company in excess of the peak employment level in the previous five years arising from a specific investment programme agreed with the IDA. For the purpose of the cost per job exercise, sustained first time jobs for 1986-92 are calculated against the peak employment level in companies in the period 1981-85. First time jobs created but lost prior to the end of the seven year period are excluded.
All grants paid by the IDA are included in the calculations including capital, leasing, training, employment, interest subsidies, rent reduction, research and development, technology acquisition, feasibility grants, loan guarantees and equity.
Tax reliefs which are allowed by the State are not incorporated in the calculations. Likewise, tax revenues from the companies are not included.