IDA Ireland report strong first half of 2017 with 11,000 new jobs on way

Thursday, July 06, 2017

IDA Ireland, the inward investment agency of the Irish Government, has today reported a very strong first half of 2017.

Investments approved by IDA in the first half will lead to the creation of over 11,000 (9,100 in 2016) jobs as companies roll out their plans over the coming months and years.

Ireland won 114 projects in the first six months of the year. While the investment figure is at the same level as the first half of 2016 – the job content of the investments is higher due to some significant investments of scale.

Lifesciences, Content and Business Services, Technology and International Financial Services all performed strongly in the first half of the year.

Brexit continues to represent both an opportunity and challenge for IDA Ireland and its client companies. The Agency has been in discussions with potential investors for over a year with the majority of the engagement being with Financial Services companies.

However, other sectors are now beginning to formulate plans based on the UK’s decision to leave the European Union. IDA is seeing an increasing number of Brexit motivated potential investments across a number of sectors.

Tánaiste and Minister for Enterprise and Innovation, Frances Fitzgerald TD said IDA Ireland’s record results for 2016 and excellent provisional results for 2017 show that Ireland continues to be one of the strongest performers in Europe in the foreign direct investment (FDI) sector.

“Record numbers of new jobs were won. Hundreds of new investments, from companies across a range of different sectors, were secured. Real progress was made towards ensuring that foreign direct investment is spread right across regional Ireland.”

Martin Shanahan, IDA Chief Executive Officer said today’s figures are very encouraging in the context of what were very ambitious targets set out in IDA’s Five Year Winning Strategy in 2015 – as an organisation, we are ahead of where we need to be at the midpoint of the strategy in terms of high level targets.

“The results are testament to the continued hard work of the IDA team across the globe that has successfully won investments for regions across Ireland. Achieving a spread of investments in line with our regional targets remains a challenge, but excellent progress has been made over the first two and a half years of the strategy.”

This article originally appeared on irishexaminer.com. For more information see here.