Online payments company PayPal is to hire 1,000 new staff at a new European operations centre in Dundalk.
The company said it will make the massive expansion - on top of the 1,500 strong workforce at its European headquarters in Blanchardstown in west Dublin - over the next four years.
Taoiseach Enda Kenny said the IDA Ireland-backed investment was great news for Ireland and for the north-east.
"This is a great signal of confidence in Ireland and in our talented workforce," he said. "It is a clear recognition of the opportunities that Ireland offers global leaders like PayPal. Our Action Plan on Jobs published last week will help to ensure that this is just the first of many similar announcements over the coming year."
The Dundalk centre will open in July 2012 and will be parent company eBay's third site in Ireland. The centres in Dublin and Dundalk will be responsible for customer service, risk prevention, financial operations, merchant services and sales across Europe, the Middle East and Africa.
PayPal will hire staff across a range of activities including customer support, operations, finance, sales and compliance. PayPal's operations in Ireland will deal with customers using 14 languages. The company is the global leader in online payment solutions. It was founded in 1998 and has 123 million customers in 103 markets worldwide.
Recruitment for the new positions in Dundalk will begin in July and about 300 workers are expected to have been hired by the end of the year.
Louise Phelan, vice-president of global operations for PayPal in the Europe, Middle East and Africa region, said the investment was testament to the company's track record in Ireland. "Our vision is to help people pay for things any time, anywhere and on any type of electronic device. We're re-imagining money to work better for consumers and businesses at a time when the line between the online world and the high street is breaking down."
Ms Phelan said individuals would be appointed based solely on whether they are qualified to do the job: "I haven't decided whether there will be 10 or a thousand graduates. I'm looking for people with relevant experience to carry out the roles we need to fill."
She confirmed that 50% of the positions will require individuals with a second language: "But half won't need a second language."