Over a third of our industrial output comes from the south west
Published 15/07/2014 | 02:30
MULTINATIONALS manufacture four times more goods than Irish firms, but employ just 12,000 extra people.
The south west of the country has emerged as the place to do business, with more than a third of Ireland's industrial output coming out of the region in 2012.
Nationally, €80bn of gross output was attributed to foreign companies, compared to just a fifth produced by Irish owned units (€20bn).
The data reveals wide divergence across the country, and for once the capital isn't coming out on top.
The south west accounted for €34bn of total industrial gross output, according to Central Statistics Office, with Dublin producing just 20pc, or €21bn worth. The midlands lagged at the bottom producing €2.8bn or 2.8pc.
However the midlands had the highest proportion of gross output for Irish owned industrial units at almost 46pc, followed by the border counties.
Again Dublin fell far behind, at 10.9pc.
Figures from the south west, which includes Cork, Kerry and the Shannon region, included €30bn from foreign firms.
"This is likely to reflect the significant multinational presence in Cork, including Apple, Pfizer and EMC," said Investec analyst Philip O'Sullivan.
More than 12pc of Ireland's workforce were employed in the industry sector in 2012.
About 96,200 of those in manufacturing plants were employed by an overseas firms, while 84,100 worked for Irish-owned companies.
Mr O'Sullivan said the employee numbers are reflective of the capital intensive nature of many multinationals' operations in Ireland.
"With over 50pc of people in industry employed by foreign firms, the data highlights the on-going importance of strong foreign direct investment flows to Ireland's labour market," he said.
"The IDA continues to do a great job in that regard, announcing last week that the 100 investments secured in the first half of the year will lead to the creation of an estimated 8,000 jobs in time."
While €7.4bn was paid to workers in 2012, wages varied substantially across the regions from €1.4bn and €1.3bn in the south west and Dublin, down to €335m in the midlands.
Workers in the south-west took home the most, an average €45,300 a year, while the border region reported the lowest average wage per person, €31,400, followed by the midlands, €32,500.
However productivity was also highest in Cork, with €1.18m worth of industrial gross output per person.