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IDA Ireland - End of Year Statement 2010

IDA Ireland wins significant increase in new jobs from Foreign Direct Investment in 2010

"Ireland continued in 2010 to win significant foreign direct investment. Most encouraging is the substantial increase in the scale of these investments from many of the world’s leading companies. In the past year the job numbers within investments secured show a marked increase, with the average employment per investment double the 2009 level. Export led growth is feeding through in the employment portfolio of IDA’s clients, which created almost 11,000 new jobs in 2010, significantly up on the previous year’s total of 4,615"
- Barry O'Leary, CEO IDA Ireland

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. Amongst those investing in Ireland for the first time in 2010 were D&B, Telefonica, Warner Chilcott, LinkedIn, EA, Riot Games, Webroot, FC Stone, Spencer Stuart, Fi-Tek, Genband, Synchronoss, Aspect, Streamserve and IIR.

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. IDA client companies created almost 11,000 new jobs in 2010, well in excess of 2009’s outcome of 4,615 jobs. Many of IDA’s existing and new clients are actively recruiting in Ireland, including HP, Accenture, Citi, Google, Facebook, Eli Lilly and MSD

Investment Highlights:

•    Almost 11,000 new jobs created
•    A total of 126 foreign direct investments won
•    47 companies investing in Ireland for the first time, up 20% on 2009
•    Investment in Research, Development and Innovation (RD&I) over €500million
•    62% of investments from existing companies
•    Over 60% of corporation tax in Ireland paid by IDA clients
•    Exports from IDA client companies account for over 75% of total Irish exports 
•    Renewed investment in manufacturing partly due to Ireland’s improving competitiveness
•    Strong growth in employment intensive services investments

Read the full article on the IDA Ireland website here.