1 in 5 Irish jobs now in foreign multinationals

MartinShanahanIDA
One-in-Five private sector workers in Ireland are employed directly or indirectly by foreign multinationals, according to Ireland’s IDA.

Its end of year report published last week says IDA-backed firms created just under 19,000 jobs in 2015, bringing total employment in the sector to 187,000, the highest level in the IDA’s 67-year history.

Of those new jobs, 53 per cent were generated outside Dublin, compared to 49 per cent in 2014. Technology, business services and life sciences were the best-performing sectors.

“While there is a global trend towards foreign direct investment (FDI) favouring large urban centres, IDA statistics continue to show the strength and resilience of FDI in regional locations,” it said.

It said that for every 10 jobs created by FDI (Foreign Direct Investment), a further seven indirect jobs are generated in the wider economy meaning 318,000, or one in five, private sector jobs are supported by multinationals.

IDA chief executive Martin Shanahan said:“Undoubtedly, the transparency, competitiveness and stability of Ireland’s tax regime has stood us in good stead against what has been global uncertainty.”

The IDA has a target of creating 80,000 new jobs by 2020. Among the international investment is attracted to Ireland last year was year was Apple’s €850m data centre in Athenry, Co Galway to run its online services like iTunes and Maps.

Facebook also announced a new €200 million data centre in Clonee, Co Meath. Minister for Jobs, Enterprise and Innovation Richard Bruton said: “This consistent record of jobcreation does not happen by accident, and is only made possible by careful implementation

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