COMPUTER giant Dell has secured the first banking licence awarded here in four years as part of a plan to create 300 new jobs.
The jobs will come from the creation of Dell Bank in Dublin, announced yesterday.
The new bank will provide finance to business customers to allow them to buy Dell products.
Dell is hiring 200 new employees immediately and plans to hire another 100 over the next three years for the new finance unit.
The new venture represents a turnaround from the events of four years ago, when the company shed 1,900 jobs with the transfer of its manufacturing from Limerick to Poland. The company has said that many of the people leaving Irish banks would be suitable candidates due to their experience.
Taoiseach Enda Kenny said it was a sign of the importance of Dell that one-third of the Cabinet had turned up for the announcement in its Cherrywood office in Dublin.
"We're now in the happier region of being able to create 3,000 jobs per month in the private sector," he said.
The Dell announcement brought the number of new jobs this week to 800 – with a further announcement expected today.
Finance Minister Michael Noonan said that it was crucial for businesses to get access to credit – and that there was need for new initiatives such as Dell Financial Services to reduce their dependence on the traditional banks.
Dell employs 1,200 people in Dublin, 1,100 in Limerick and 200 in Cork.
The new jobs will bring its total workforce here to 2,800.
Dell was once known for building computers rapidly for customers but it has changed its business model in the face of stiff competition from companies like Apple.
It is now providing computer hardware, software and IT services to businesses as part of an "end-to-end solution" concept, as well as still manufacturing tablet and desktop computers.