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IDA announces 560 new jobs as it seeks to lure cloud computing firms

By Niamh Hennessy

Friday, July 22, 2011

THE IDA said it is trying to lure cloud computing and financial analytics firms to Ireland, as it announced 560 jobs are to be created.

 

The agency, which is responsible for attracting companies into Ireland, said 75 overseas investments were won in the first half of this year, up 19% on last year. It said it is on track to achieve its "ambitious" investment and jobs targets for the year.

The number of first-time or new-name investors to Ireland increased by 40% in the first six months of 2011, with 28 companies deciding to invest here for the first time.

Yesterday, Belgian software company, BSB, which provides software and services to the financial services industry will create 120 jobs in Dublin, while San Diego-based global biopharmaceutical company Sangart will build a new landmark facility at Carrigtwohill, Cork, employing 120 people once fully operational and 125 people during construction.

On Wednesday Analog Devices announced a major investment in its plant in Limerick and will expand its workforce by 100.

Also Dutch giant Wolters Kluwer is investing in research and development in its financial services business creating 13 new positions to join its 55-person centre in Dublin involved in regulatory compliance and risk management technology.

It is expected that more than 160 jobs will be announced today in Dublin by a top European company.

IDA CEO Barry O’Leary said: "The €50m investment by Analog Devices in Limerick together with the four announcements and another expected announcement tomorrow from a world leading company will see over 560 new jobs created. We expect the strong flow of foreign direct investment to continue through 2011."

IDA chairman Liam O’Mahony said in a marketplace where foreign direct investment into the EU was down 23% last year, it is "extremely encouraging" that IDA is having a strong performance in 2011.

 

This appeared in the printed version of the Irish Examiner Friday, July 22, 2011