Dáil Éireann Debate, Tuesday - 25 March 2014
456. Deputy Stephen S. Donnelly asked the Minister for Jobs, Enterprise and Innovation the number of companies in the manufacturing and services sectors to be supported by the Industrial Development Agency through its client transformation programme has been set at 70 as per Action 48 of the Action Plan for Jobs; and if he will make a statement on the matter. [13161/14]
View answerForeign Direct Investment (FDI) has been, and will continue to be, an integral part of Ireland’s economic development strategy. Foreign owned firms have a strong impact on the Irish economy by contributing substantially to Ireland’s exports, jobs, expenditure in the Irish economy and to Exchequer funds. IDA Ireland client companies are responsible for over 161,000 jobs and are a catalyst for an additional 100,000 jobs in the wider economy. For every 10 jobs created in multinational companies approximately 7 jobs are created elsewhere in the economy in supply and service businesses.
In addition to winning new name FDI for Ireland, IDA Ireland recognises the important role of the existing base of foreign owned firms as approximately 70% of FDI investments come from the existing client base. A key aspect of IDA Ireland’s focus is developing and deepening the impact of FDI through the organisation’s Client Transformation Programme. This involves wide-ranging engagement and influencing of senior management of existing FDI facilities in Ireland and with corporate leaders overseas, seeking to widen and deepen the mandate and functions of the Irish-based facilities. To assist companies engage in a transformation programme, IDA Ireland offers a range of supports such as technology uplifts, skills enhancement, energy improvements, productivity uplift and investments in new facilities and equipment. This is a vital activity as positive outcomes further embed existing investors, thus providing long term employment which is often in important regional locations as illustrated by recent transformation investments by Hewlett Packard in Galway and GSK (Stiefel) in Sligo.
As per the Action Plan for Jobs, in 2014 IDA will support 70 companies in manufacturing and services through the above Client Transformation Programme.
