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News : Irish Economy Last Updated: Jul 9, 2014 - 12:28 PM

IDA Ireland: Jobs in Irish FDI exporting sector remain below 2000 level
By Michael Hennigan, Finfacts founder and editor
Jul 8, 2014 - 7:39 AM

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IDA Ireland: The 2013 Annual Report [pdf] of the Irish inward investment agency, which was published Monday, states: "Total employment at IDA client companies now stands at 161,112 people, the highest level in the history of IDA Ireland." However, the total of  jobs in the Irish FDI (foreign direct investment) exporting sector remains below the 2000 level despite a 22% rise in the total workforce in the period since.

In the H1 2014 first half statement [pdf] that was also issued Monday, it's stated that the total jobs of 161,112 at the end of 2013 is "a new record for the FDI sector in Ireland." This is not correct.

Shannon Development and Údarás na Gaeltachta (not significant) have also been public FDI promotion agencies and this year responsibility for the client companies of the former is being transferred to IDA Ireland and Enterprise Ireland.

As per the chart above, official data shows that total employment in FDI exporting firms was at 184,000 in 2000 and 172,000 in 2013.

IDA Ireland says in the half-year report that over 100 investments were secured in the first six months of 2014, compared to 70 at the same time last year. Of the investments secured, 40% have come from companies investing in Ireland for the first time, with the remainder represented by expansions and transformations by existing companies.

The projects may lead to 8,000 jobs in the next 3 to 5 years.

The average job per project was 100 in H1 2013 and 80 in 2014.

In recent years, the net job creation is about half of gross new jobs.

We recently noted in respect of Enterprise Ireland annual reports that since Richard Bruton became enterprise minister in 2011, some key data had been dropped.

Somebody also decided that key R&D data should be presented in a useless format in the current IDA Ireland report:

  • Annual Report 2012: Annual No. of IDA client companies investing more than €100,000 per annum in R&D 293 - - 28% of client companies in 2012;
  • Annual Report 2013: Total R&D in-house Expenditure €1.3bn (in 2012).

US companies accounted for 73% employment in IDA client companies in 2013 and Finfacts has estimated that 40 US firms employing 72,000 or 3% of the workforce accounted for two-thirds of annual Irish exports in 2013.

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