January 5, 2018

IDA Ireland Results for 2017

IDA Ireland has exceeded the total net increase in jobs targeted in its five year current strategy.

 

FDI in Ireland

IDA Ireland, the Irish government agency responsible for attracting foreign direct investment to Ireland, has announced that employment in foreign owned companies in Ireland reached 210,443 at the end of 2017 surpassing its overall target of 209,000 set out in their Foreign Direct Investment 2015-2019 strategy. The knock-on employment impact on the economy is much greater than this. They achieved this figure two years ahead of target.

According to the IDA, Dublin continues to show a remarkable capacity to attract foreign direct investment and has developed an international reputation as a hub for financial services and FinTech, Technology and International Operations centres, amongst others. The region continues to perform well and it is predicted that this trend will continue in 2018.

Martin Shanahan, CEO of IDA said "Our market diversification strategy is working, but it will take time. In 2017, 67% of investment came from the US compared to 72% in 2016. Europe accounted for 24% in 2017, up from 20%. Growth markets moved from 8% in 2016 to 9% in 2017". 

The IDA said that in 2018 it will be focusing on a diversification of its portfolio. Attracting UK-based firms to Ireland and expanding and deepening its relationships in Europe and with countries like China, India, South Korea, Singapore and Australia.

Heather Humphreys TD, Ireland’s Minister for Business, Enterprise & Innovation said:

“These results demonstrate that the level of Foreign Direct Investment in Ireland has never been better".

“Ireland may be approaching full employment, and we may now be seeing stronger domestic economic activity, but the Government won’t lose sight of how important the lifeblood of FDI continues to be for our country".

Fingal County Council continues to work in conjunction with IDA Ireland, and the two organisations have developed College Business & Technology Park in the Dublin Enterprise Zone (DEZ) as a joint venture. The park is fully serviced and located just 10km from Dublin Airport and 14km from Dublin City Centre.

Fingal County Council is committed to continued investment in, and management and promotion of, the DEZ. Businesses located nearby and within the DEZ include, Bristol-Myers Squibb, IBM, Astellas, PayPal, Helsinn Birex Pharmaceuticals, Symantec and Rottapharm Ireland.