Industry & Business

Over 600 jobs announced and €300m invested in Ireland in past seven days

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Over 600 jobs announced and €300m invested in Ireland in past seven days

Over 600 jobs announced and €300m invested in Ireland in past seven days
June 06
09:00 2017

Martin Shanahan, CEO at IDA Ireland who is currently meeting with IDA clients in India said: “This has been a remarkable week for foreign direct investment across Ireland. It is hugely encouraging to see that the flow of multinational companies choosing Sligo, Carlow, Cork and Dublin as their destinations of choice has continued, despite global economic headwinds.”

“Our talent, our stable economic and political environment and our EU membership are key factors for investors. Ireland’s employment continues to grow and the unemployment rate continues to fall quarter on quarter as foreign investors choose locations across Ireland to invest.”

It has also been an excellent week for Ireland in terms of our global positioning. The IMD Global Competitiveness Yearbook rankings cited Ireland as 6th for overall competitiveness out of 63 countries surveyed.

“The report found that Ireland is the global leader when it comes to productivity, investment incentives and our ability to attract and retain talent. These are the crucial factors that FDI companies value when investing in a country,” said Shanahan.

“IDA estimates that for every 10 jobs generated by Foreign Direct Investment (FDI) directly, another seven are generated in the wider economy. We have never had more people employed in foreign companies here in Ireland in the history of the state.”

“That being said, complacency is never an option when it comes to our competitiveness as a country. The National Competitiveness Council observations this week remind us that there is always more to be done. In order to continue to attract record numbers of FDI into Ireland we must always strive to innovate and overcome obstacles to growth. IDA Ireland will continue to coordinate with the Government to ensure that Ireland is promoted across the globe as an attractive destination for business while also working to keep Ireland best positioned to win all available investment opportunities.”

Announcements this week:

  • Global healthcare company Abbott announced it will be investing almost €10 million into a new building in the Finisklin industrial estate in Sligo.
  • Global biopharmaceutical company MSD announced that it will create 330 new jobs and invest €280 million over the next three years at two of its Irish manufacturing sites in Carlow and Cork.
  • Grant Thornton announced that it is to create 250 new jobs across all areas of its business operations in Ireland. A significant number of the new posts will be in its Centre of Excellence, which provides a new framework for the delivery of global compliance and reporting services
  • Takeda Pharmaceutical Company Limited announced that construction will begin on a new €40 million high value production facility at the existing Grange Castle site in Ireland which will create 40 jobs.

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