IDA Ireland, the Government agency charged with attracting foreign direct investment in the country, has set ambitious plans for the next five years, with 80,000 extra jobs as the ultimate target.
Increasing investment into each region of Ireland by up to 40pc, the IDA is targeting 900 projects between now and 2019.
If achieved, it would represent the highest level of employment from overseas firms in the history of the state.
Some €150m is being invested in property in this time frame, which will act as a support for the optimistic project, with business and technology parks already earmarked for some of the funding announced a few weeks back.
“International competition for investment has never been more intense,” says Martin Shanahan, chief executive at IDA.
“To achieve the ambitious FDI regional targets in this strategy will require the support of all regional stakeholders to help develop attractive regional offerings.”
Places to go
North America is still the go-to place for FDI in Ireland, with IDA maintaining a strong focus on a region that is home to many of the existing multinationals within Ireland – however, a push for more European and Asian investments will also be undertaken.
“In the past four years – following several difficult years – we have seen almost 25,000 extra jobs created in foreign companies here. The impact of this is felt in lives and communities right across the country,” says Minister for Jobs, Enterprise and Innovation Richard Bruton.
“This will make a major contribution to delivering our target of full employment by 2018, helping to grow tax revenues and ultimately create a better country for people to live in.”
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