One of the high level goals in the IDA's strategy document "Horizon 2020 “ is a commitment that, by 2014, 50% of all FDI investments will be located outside of Dublin and Cork. Foreign Direct Investment (FDI) in Ireland increased significantly in 2010, despite global economic uncertainty. IDA has continued to increase the number of companies investing in Ireland for the first time while encouraging existing operations to expand and diversify their operations here.
Despite the turbulent global economy in which, according to the OECD, foreign direct investment declined by 8% and with increased competition for FDI, IDA secured 126 investments in 2010 with IDA client companies creating almost 11,000 new jobs during the year. During 2010, it was encouraging to see that, 45% of the jobs approved were locating outside of Dublin and Cork in key regional locations, such as Dundalk, Letterkenny, Tullamore, Ballina, Tralee, Waterford.
The global outlook for FDI in 2011 remains challenging but a continuing focus on improving competitiveness will place Ireland in a favourable position to win further significant FDI and contribute strongly to Ireland's export led economic recovery. Significant FDI successes in 2010 have built a strong momentum for investment which will be carried through in 2011. Many investments secured last year will be recruiting this year, feeding further employment-growth. IDA's focus will continue to be on high end manufacturing, global services and RD&I across a wide range of sectors. In particular ICT, Digital Media, International Financial Services, Internationally Traded Services, Life sciences and Cleantech are poised for further growth. The level of confidence demonstrated by overseas investors in Ireland ensures we will remain one of the leading locations in the world for foreign direct investment.