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IDA announces highest net job creation in a decade

IDA Ireland today reported the creation of 12,722 jobs in 2012. IDA client companies added a total of 6,570 net new jobs, marking the third consecutive year of growth in net employment. Jobs losses were also the lowest in a decade.

In total there were 145 individual investments, with 66 (over 40%) from companies coming to Ireland for the first time. The IDA client base in Ireland now employs 152,785 people, a level last recorded before the global financial crisis began in 2008. Net job creation rose to 6,570 from 5,934 last year.

Among the biggest investments were Apple, PayPal, Northern Trust, EA Games, Fidelity, SAP, Amgen, Mylan, Cisco, Arvato, Allergan and Eli Lilly. A notable feature of 2012 was the wide range of green field investments coming to Ireland, including Clearstream (part of Deutsche Bourse), Hubspot, Dropbox, Nextag, Aspen and Nuance.

IDA Ireland has just completed the third year of its five year Horizon 2020 strategy and the latest results put the organisation ahead of target in meeting its goal of creating 62,000 direct jobs by 2014 from 640 new investments.

Welcoming the 2012 performance, Jobs Minister Richard Bruton said:

When we launched the Action Plan for Jobs last year we set some very ambitious targets for new foreign investment for 2012. On that basis I am delighted that the results today from the IDA confirm that we have surpassed the job creation figures for 2011 and have secured the highest net job creation numbers in a decade. These investments are a superb vote of confidence in the Irish economy and the Irish people.

 I’d like to pay tribute to Barry O’Leary and all his team in the IDA who have delivered these results in the face of ever increasing competition for this type of mobile investment.

The challenge now is both to grow our level of foreign investments here and also to maximise the positive impact of those companies for the wider Irish economy. That is why I am particularly pleased to see the work of a joint management team between IDA and Enterprise Ireland working closely together on this very task.

CEO of the IDA, Barry O'Leary, said:

Amid significant economic challenges globally and locally, Ireland turned in a strong FDI performance in 2012 with gains in employment across a broad range of sectors. Helping FDI clients to transform their operations within Ireland also led to a significant reduction in employment losses, producing a strong year overall.

Ireland’s leading FDI companies have strong economic substance here in terms of large scale employment and investment. But Ireland faces a highly competitive landscape, with notable strong competition arising from the UK, the Netherlands and Switzerland and many other countries.

Read the full statement on the IDA website here.