2014 has been a bumper year for IDA Ireland (video)
IDA chairman Frank Ryan with Jobs Minister Richard Bruton, TD, and IDA CEO Martin Shanahan. Photo by Luke Maxwell

2014 has been a bumper year for IDA Ireland (video)

6 Jan 2015

In 2014, IDA Ireland client companies generated 15,012 jobs. Taking into account losses of 7,881 jobs during the year, a total of 7,131 net new jobs were created, which is a new record.

Speaking today at the release of IDA’s results for 2014, IDA Ireland chief executive Martin Shanahan said the inward investment promotion agency will unveil a new strategy for the next phase of development during the coming first quarter.

IDA Ireland has revealed 15,012 jobs were created during 2014. Total employment in IDA client firms now stands at 174,488, the highest level on record.

In 2014, there were 197 investments amounting to a 20pc increase on 2013.

The State agency said there was a notable rise in new name investment, with 88 new name investors in 2014, equating to a 13pc increase on 2013.

Supply of talented graduates cannot be overstated

IDA Ireland estimated that for every 10 jobs generated by foreign direct investment (FDI), another seven are generated in the wider economy.

It is estimated that about 10,000 people are now employed on construction projects under way with IDA client companies, providing a considerable economic boost to the sector and the wider economy.

The agency said it was pleased with the retention of Ireland’s 12.5pc corporate tax rate and welcomed a broadening of the R&D tax credits and the creation of knowledge development boxes which it said would create a best-in-class tax environment.

Looking ahead to 2015, the agency said it was “cautiously optimistic” about Ireland being able to win business across crucial sectors, such as life sciences, digital media and international business services.

With the backdrop of a challenging economic outlook for Europe, Shanahan stressed how the importance of the education and training sector providing a supply of talented graduates cannot be overstated. 

John Kennedy
By John Kennedy

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years. His interests include all things technological, music, movies, reading, history, gaming and losing the occasional game of poker.

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