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.
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
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
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.