Saturday 18 November 2017

Diaspora to get finders' fees in new job scheme

Emmet Oliver Deputy Business Editor

THE State's main foreign investment agency is to tap into the diaspora in a landmark scheme to win jobs for Ireland.

The Industrial Development Agency (IDA) is offering a €4,000 finders' fee for each position created under a new scheme designed to tap previously ignored overseas firms.

The idea -- first mooted by Taoiseach Enda Kenny earlier this year -- has now formally been adopted by the IDA .

Firms and individuals have been invited to express an interest in the scheme, dubbed 'Succeed in Ireland'.

The agency is seeking to get jobs created from small- and medium-sized enterprises (SMEs) rather than multinationals who are already catered for by the agency.

If individuals or firms play a part in creating a job for Ireland, a payment will be made if the post still exists two years later.

The Irish Independent understands that sporting bodies such as the GAA and the IRFU may be asked to become involved in the project, which is the first of its kind in Ireland.

The IDA has advertised in European publications for three consultants to come forward to kick-start the scheme and trawl the US and Europe for new jobs from SMEs.


Finders' fees will be split between the actual finder of the job and the companies managing the whole system.

The actual finders are expected to receive €3,000.

The potential bill for the initiative is not known, but the IDA only has 20 full-time staff in the United States so it hopes using a broader network will allow it to tap firms not previously contacted by the IDA.

The payments can be made to Irish citizens, but also to citizens of other countries once it is proven they brought a crucial lead on jobs to the agency.

The key element of the scheme is to use the Irish diaspora to drum up additional jobs that wouldn't be created in the normal course of events, one source explained.

Firms and individuals have been given until September 9 to express an interest.

An IDA source said the scheme would be "complementary" to the IDA's existing work.

Family members of Irish people living abroad are seen as one of the core groups that could be used in the scheme.

Irish Independent

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