Belfast Telegraph

Friday 1 August 2014

Multi-nationals created 11,000 jobs

IDA chief executive Barry O'Leary predicts job losses will be lower in 2011

Multi-national companies created almost 11,000 jobs last year - more than double the figure in 2009.

But more than 9,500 positions were also lost, according to the Industrial Development Agency's (IDA) end of year statement.

Barry O'Leary, IDA chief executive, predicted losses would not be as steep this year.

"We are very confident that we are going to see reductions in that, because I think there was a lot of shedding down in 2009 that leaves companies in a better position now."

The IDA said 126 foreign direct investments were secured last year, with 47 companies investing in Ireland for the first time, up a fifth on 2009.

Some 10,897 jobs were created, compared with 4,615 in 2009.

While 9,545 jobs were lost by IDA-supported companies in 2010, the body predicts another 10,000 will be created this year. Mr O'Leary blamed much of the losses last year on an overhang in lay-offs announced in 2009, including from Dell and SR Technics.

Batt O'Keefe, Enterprise Minister, said that despite the recession Ireland is still being eyed-up by multinationals.

"The combined influence of Ireland's increased competitiveness, commitment to our 12.5% corporate tax rate, and quick and decisive measures taken by government to combat the challenging economic situation has resulted in an excellent flow of foreign direct investment," the minister said.

Mr O'Keeffe said state agencies will create 28,000 jobs next year.

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