We're still open for business
Published 22/02/2012 | 05:00
Yesterday's announcement of 1,000 new jobs at online payments network PayPal demonstrates that, despite all of the bad news of the past few years, Ireland is still open for business. For many US multinationals, Ireland still remains an extremely attractive location in which to do business.
And the PayPal jobs announcement may be followed by others in the near future. While it is still early days, the IDA is already well positioned to at least match last year's excellent performance, which resulted in a net 6,000 new jobs created at IDA-supported companies in 2011.
The PayPal announcement wasn't the only piece of good news to come from Ireland Inc yesterday. Kerry Group, Ireland's largest indigenous food company, announced superb 2011 results with trading profits jumping by 7pc to €501m. From small beginnings chief executive Stan McCarthy and his predecessors Denis Brosnan and Hugh Friel have created a genuine Irish food multinational in the space of just 40 years.