IDA Announces Regional Statistics
Published: 19th January 2016
These latest IDA Ireland results means that more than one-in-five private sector jobs in the economy (direct and indirect employment), are as a result of IDA-supported FDI representing a vital economic contribution by the multinational sector.
The performance was produced against a background of global economic uncertainty, intense competition from other jurisdictions and a changing global taxation landscape.
IDA markets Ireland on a regional basis to overseas investors and it is gratifying that all regions of Ireland are growing in terms of Foreign Direct Investment. Almost 19,000 jobs were created last year by IDA client companies in regions all over Ireland, with over 9,000 jobs created outside Dublin.
Even more encouraging is that in net terms all regions of the country were ahead, in employment terms. But clearly there are pockets of the country that remain a challenge. The overall picture remains very strong with 20 of the 26 counties also growing in jobs terms. Those counties that experienced the highest growth in 2015 included: Waterford, Limerick, Westmeath, Donegal, Louth and Galway. Those counties that did not grow in 2015 were Wicklow, Monaghan, Sligo, Kilkenny, Tipperary and Wexford. IDA Ireland will continue to market all regions and counties. It is also worth noting that site visit figures for 2015 are well ahead of the previous year. While this is just one indicator and has to be treated with caution, the increase in site visits is likely to lead to increased investment in these areas in 2016 and future years.
Annual figures are a snapshot, and particular areas will have their ups and downs, but the overall direction is unmistakable - Foreign Direct investment is growing in all regions and that is contributing to the overall strong national performance.
The number of investments secured during the year rose from to 213 from 197 in the previous year. The number of new name investments went to 94 from 88 in the previous year. The strong net job creation performance is a result of a very strong pipeline of new investments and lower job losses within the employment portfolio. Losses as a percentage of the overall employment portfolio were at their lowest level ever. Working with companies to transform their activities to higher value in Ireland is a key part of IDA’s strategy.
Jobs - Regional Breakdown
REGION TOTAL EMPLOYMENT NET CHANGE AS % OF TOTAL EMPLOYMENT
Dublin and Mid East 6.3%
South West 10.3%
Mid West 6.7%
West 1 2.8%
South East 1 2.4%
North West 5.4%
North East 2.5%
IDA Ireland Site Visits 2015