Business Irish

Thursday 23 November 2017

5,000 jobs created by the IDA so far this year, but big challenges ahead

IDA chief executive Barry O'Leary
IDA chief executive Barry O'Leary
Peter Flanagan

Peter Flanagan

THE IDA said today its client companies have created some 5,000 jobs so far this year.

In its half year report the development agency said this year's performance followed the creation of 13,000 positions last year.



After job losses are removed, companies backed by the IDA employed a net 6,000 new people in 2011 - the best performance in 10 years.



Chief executive Barry O'Leary said the numbers were positive for "Ireland Inc" but added that more and more countries were competing with Ireland to attract investment from overseas.



''Due to a lack of domestic demand and budget deficits many countries are ramping up their attempts to attract inward investment, and that is making the playing field for getting foreign companies to come here much more competitive than ever," he said.



Mr O'Leary highlighted the wide range of companies that have invested in Ireland and claimed that was a testament to the reputation the country has earned and rebuilt since the economic crash but warned the global economic problems could cause issues going forward.



"There are challenging headwinds facing IDA and Ireland with little growth in European demand, moderate growth in the US and a slowdown in the economies of China and India," he claimed.

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