Dáil Éireann Debate, Wednesday - 20 July 2016
441. Deputy Bernard J. Durkan asked the Minister for Jobs, Enterprise and Innovation the extent to which she expects foreign direct investment to play a part in job creation over the next five years; and if she will make a statement on the matter. [23079/16]
View answer458. Deputy Bernard J. Durkan asked the Minister for Jobs, Enterprise and Innovation the major considerations of foreign companies contemplating investment here; if skills, services such as IT, road or rail transport or other considerations are paramount; and if she will make a statement on the matter. [23288/16]
View answerI propose to take Questions Nos. 441 and 458 together.
Foreign Direct Investment (FDI) continues to be a key contributor to Ireland’s economic development and growth. One-in-five private sector jobs in the economy result from IDA Ireland-supported FDI, both directly and indirectly, and represent a vital economic contribution by the multinational sector. 2015 saw the highest level of employment in the Agency’s history, with 187,056 people employed in IDA Ireland client companies.
Our efforts to continue to attract international investment in Ireland will be guided by both my Department’s Policy Statement on Foreign Direct Investment and IDA Ireland’s own five-year strategy “Winning - Foreign Direct Investment 2015-2019”. The strategy details both how the Agency will broaden its target sectors further and seek new markets over the next five years. Its ambitious targets include boosting FDI in Ireland by over 40% and creating 80,000 new jobs in the economy.
When considering investing in Ireland FDI companies consider a range of factors, including: regions of scale with appropriate urban centres, supply of skilled people, international connectivity, energy infrastructure, telecommunications, R&D capabilities, sub-supplier and services infrastructure.
Ireland has many factors that make it an attractive location for FDI including a stable macroeconomic environment, pro-enterprise policies, high-quality education and skills development, a proven track record and a competitive and transparent corporate tax regime.
Property availability is of particular importance when a FDI company is considering locating in a regional area. In this regard, in February 2015 the Government unveiled a five-year strategy that included the delivery of a €150 million IDA Ireland property investment programme to attract foreign direct investment into different parts of Ireland. The programme will ensure the ready availability of an adequate supply of marketable serviced land, office and industrial/manufacturing buildings in advance of demand by both existing and potential client companies.
As Minister for Jobs, Enterprise and Innovation, I, along with IDA Ireland and other governmental and regional stakeholders continue to work to ensure that we create the right environment for investors to enhance our reputation as an excellent location for overseas talent to work and live.
