search results found for
IDA Ireland, the inward investment agency of the Irish Government, today reported significant investment growth in the first half of 2022, returning FDI employment creation plans to above the pre-pandemic 2019 record levels, despite a continuing challenging global environment.
Employment within IDA’s portfolio of multinational companies (MNC) continued to grow throughout the Covid-19 pandemic. While job losses were at slightly more elevated levels, job gains remained remarkably buoyant. This is testament to the strength of the companies IDA works with and the stability of Ireland as a location in which to do business. It also reflects the unprecedented level of fiscal support provided by the Government to ease the impact of the pandemic on the economy, protecting jobs and incomes.
Through its direct and indirect impacts, Ireland’s FDI base is a core national asset. The contribution of our client companies is tangible, substantive and something that we do not take for granted.
IDA’s four-year organisational strategy aims to consolidate and build on the positive impact of FDI as Ireland pursues a jobs-led recovery that seizes on the opportunities of the green and digital transitions. We have made significant progress implementing the strategy since its publication in January 2021, including the development of implementation plans by IDA’s operating divisions to support the achievement of objectives across our strategic pillars of Growth, Transformation, Regions, Sustainability and Impact.
Regional development remains central to our ambitions. Although it is not a silver bullet, FDI can help propel recovery and realise more balanced growth. Global FDI has historically exhibited a preference for large urban locations, where benefits arising from a critical mass of businesses and people can be amplified relative to smaller regional locations. The rise in remote working since the pandemic may alter location decisions to a certain extent and create increased competition for talent.