Business Irish

Tuesday 23 May 2017

IDA targets 5,000 jobs with new five-year plan

THE Industrial Development Authority (IDA) is about to unveil a new five-year plan in a desperate attempt to make up for some of the 13,400 Irish jobs it lost last year.

Under the plan, which is yet to be approved by its board, at least 5,000 new jobs will be created in 2010, according to IDA boss Barry O'Leary.

About 2,000 of these jobs are expected to be created by the end of March. “This year, we will be targeting an increase (in new jobs) on last year of more than 10 per cent,” said O'Leary.

The Sunday Independent understands that among those to be targeted by the IDA under the plan are companies that specialise in environmental services and goods, cleantech, innovation, and research and development.

Hewlett Packard is working with the IDA on “projects which could be very significant if they come to fruition”, according to Martin Murphy, managing director of Hewlett Packard Ireland.

In 2009, 4,500 new jobs were created by companies supported by the IDA — about a third of the number of jobs lost within such companies. Mr O'Leary warned that some pharma companies could feel the brunt of any cost-cutting by global parents. “When mergers and acquisitions are taking place, the first thing that companies do is look at their high-cost plants,” he said. “There are specific (Irish) plants where the cost is high and unless that's addressed, some will experience trouble.”

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