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IDA Ireland Supports

Dáil Éireann Debate, Wednesday - 7 February 2018

Wednesday, 7 February 2018

Ceisteanna (173)

Bernard Durkan

Ceist:

173. Deputy Bernard J. Durkan asked the Minister for Business, Enterprise and Innovation the degree to which IDA Ireland's development programme continues to develop to maximise advantages for job creation and economic competitiveness on international markets; and if she will make a statement on the matter. [6359/18]

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Freagraí scríofa

Competition for foreign direct investment (FDI) remains intense. Nevertheless, multinational companies continue to invest and re-invest here with leading global firms from many sectors - including life sciences, ICT, engineering and digital media - all based in Ireland. The contribution that these investments make to our wider economy remains highly significant.

Ireland has many strengths when it comes to attracting FDI. This includes, for example, our international competitiveness ranking, where we are rated as the 6th most competitive country by the Institute for Management Development (IMD). Ireland also scores very highly in terms of key criteria for FDI including investment incentives, labour productivity and the adaptability and retention of talent. As recognised by the IMD, many of Ireland’s traditional assets including our education system, highly skilled workforce and pro-enterprise business environment add to our competitive advantage and are extremely attractive to inward investors.

The IDA's 2017 Annual Results show that the Agency has performed very strongly over the last 12 months with total employment by overseas companies in Ireland now standing at a landmark 210,000 people. This means that roughly one-in-five private sector jobs in our country result either directly or indirectly from FDI.

The IDA’s clients also created over 19,000 new jobs on the ground during 2017. The net number of new jobs – meaning the total amount of positions created after allowing for job losses in other FDI firms – was roughly 10,500.  I am especially pleased as well that the benefit of all these jobs will be felt all across Ireland with every region posting net gains in jobs.

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