Saturday 20 October 2018

€17m cost of IDA's overseas offices and staff revealed

Heather Humphreys. Photo: Kyran O'Brien
Heather Humphreys. Photo: Kyran O'Brien

Gordon Deegan

The IDA last year spent €17.17m on funding its operations overseas. New figures provided by the Minister for Business, Enterprise and Innovation, Heather Humphreys, show that last year it cost the IDA €11.2m in pay costs for its network of overseas offices along with €5.9m in non-pay costs attached to the offices.

A spokeswoman for the IDA said yesterday that staff working in the IDA's overseas network of offices were pivotal in reaching employment levels at foreign owned companies here to 210,443 in 2017. The largest office is in New York city where 12 are employed with eight based at Mountain View in California and six in Irvine, California. The IDA's other offices are based in Paris where three are employed and London (8), Frankfurt (7), Atlanta (2), Boston (3), Austin (2), Chicago (5) along with offices in Sao Paulo (1), Australia (2), Shanghai (3), Shenzhen (2), Beijing (1), Seoul (1), Mumbai (4), and Japan (3)

In her written reply to Fianna Fáil's Billy Kelleher TD, Ms Humphreys said: "The agency does not provide the specific cost breakdown of individual offices as these details are sensitive in the context of international competition for foreign direct investment (FDI)."

"IDA Ireland fights to win business for Ireland across the world on a daily basis," said a spokeswoman.

"Our international offices have been enabling the agency to build and maintain its client links for over 69 years.

"Employment levels in foreign-owned companies reached 210,443 in 2017 - our team members working in IDA Ireland's international network of offices were pivotal in reaching this figure". She added: "FDI has been, and will continue to be, a key plank upon which Ireland's economy is built."

Irish Independent

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