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Number of job projects secured by IDA Ireland down on 2023

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There has been a fall in the number of job projects secured by IDA Ireland this year compared to 2023, the agency said today.

The organisation said it won 234 projects in 2024 which will generate 13,500 jobs in the coming years.

That was down on last year when it announced 248 projects resulting in 19,000 jobs in the future.

There are now 302,566 people employed in IDA client companies, which is a net increase of 601 on last year.

It means about 11% of Ireland's workforce are in multinationals, supported by the state body.

2024 is the third year in a row the number of jobs in IDA client companies has remained above 300,000.

Despite the uncertain future with potential tax changes and tariffs proposed by incoming US president Donald Trump, the IDA says Ireland continues to be attractive to international investors.

It said that there was "strong balanced regional development" throughout 2024 with 59% of foreign direct investment outside Dublin.

There was also a record level of research and development investment valued at €1.9 billion across 64 projects.

"Job growth was recorded in modern manufacturing and traditional manufacturing, up 0.8% and 0.4% respectively. Business, financial and other services also reported an increase (1.7%) whilst information, communication & technology saw numbers decline (1.2%)," IDA Ireland said today.

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Michael Lohan, CEO of IDA Ireland, said the stability in employment levels by foreign direct investment clients highlights the sector's resilience and consistent growth, ensuring job security and economic impact.

He said the significant level of capital investments into Ireland in the past 12 months from FDI crucially inject substantial capital into the country, stimulating growth and leading to the creation of highly skilled employment opportunities across the country.

"Such investments signal strong confidence in Ireland's economic environment, underpinning a positive business climate and emphasising the nation's attractiveness as a prime location for global investment," the IDA CEO said.

"Not only do these investments catalyse immediate economic benefits, but they also pave the way for sustained long-term growth and development," he added.

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Minister for Enterprise, Trade and Employment Peter Burke said that despite many challenging global issues such as the impacts of Brexit, the Covid-19 pandemic and the war in Ukraine, Ireland continues to be seen as a location of choice for new investors as well as long-established companies who choose to further invest in substantial expansions of their operations here.

"Ireland offers a competitive, consistent, and transparent corporate tax regime, good access and connectivity and an excellent return on investment, as well as being an attractive environment where people want to live and work," the Minister said.

"Competition for FDI remains intense. Every job created in Ireland by an FDI company has been hard won, against competition from a growing number of sophisticated locations and economies," he added.

He also said that in recognition of the increasing competition internationally for FDI, IDA Ireland will receive an additional €15.5m in capital funding next year.

"IDA Ireland will target significant FDI investment in 2025, with a focus on RD&I, Sustainability and Digitalisation. The additional funding will also help IDA to strengthen its team and deliver enterprise-focused property solutions across the country reflecting the Government's commitment to Regional Development," Mr Burke added.

IDA's key announcements for 2024

Beckman Coulter in Clare announced a significant expansion to their Ennis presence, adding 80 jobs as part of a €10m investment.

Bristol Myers Squibb in Dublin announced the investment of $400m into its Dublin campus, with the addition of 350 jobs.

BioMarin Pharmaceutical in Cork announced a €60m investment into the expansion of its Shanbally facility.

Calypso AI in Dublin created their Global headquarters in the city, creating 100 jobs.

Cara Partners in Cork announced €130m investment in its operations with the addition of 60 jobs.

Carelon in Limerick created 100 jobs in Irish R&D Hub in their Innovation Centre at the National Technology Park

Chargebee in Dublin announced the opening of their Dublin office, with the addition of 50 jobs.

Element Fleet in Dublin created 70 new jobs as it establishes a centralised leasing function in the city

Eli Lilly in Cork and Limerick invested $1.8 billion across the two operations.

Evernorth in Galway announced 100 jobs in for the city

Freudenberg Medical in Leitrim opened their expanded facility in the county, creating 250 new jobs.

Hovione in Cork announced the opening of a new spray drying facility in Ringaskiddy, creating about 20 new jobs.

IBM in Dublin, Cork and Waterford announced 800 high value R&D, digital sales & consulting jobs across the three locations and at its subsidiary Red Hat

Infineon in Dublin and Cork expanded its R&D presence in Ireland with the addition of 100 new jobs

INIT in Kildare increased its capacity in Maynooth, creating 30 jobs.

Integer in Wexford and Galway announced a $90m investment across the two sites

Jacobs Engineering in Dublin announced the addition of 100 jobs

Juspay in Dublin, the Indian headquartered, global financial services company established its European headquarters in the city

Microsoft in Dublin announced 550 new jobs across different functions including engineering and R&D

Motorola Solutions in Cork generated 200 jobs with the opening of a new R&D centre.

NABANCARD in Limerick announced 50 new jobs with the opening of its R&D excellence centre in the city

Noesis in Louth created 30 jobs with the opening of an IT Centre of Excellence in Dundalk.

Outsurance in Dublin announced their expansion into Ireland, investing €160m and creating 230 jobs in the city

Penn Engineering in Galway expanded their operations with the addition of 70 new jobs as part of a €14m investment.

Pentagon Technologies in Louth set up a precision parts cleaning facility in Dundalk providing 100 jobs.

Proofpoint in Cork opens new Cork office, creating 200 jobs.

RoviSys in Dublin establishes a new Dublin office, creating 30 jobs

Sirius XM in Dublin opens technology facility in the city and the creation of 200 jobs

Sonatus in Dublinannounced the opening of a new R&D and Engineering centre, creating 15 jobs.

UKG in Kilkennysets up its newest Global Operations Hub adding 200 jobs.

UPS Healthcare in Dublin opens first-of-its-kind healthcare logistics facility, providing 30 jobs

West Pharma in Dublin announced an additional 330 jobs as part of their expansion to their site in Damastown

Workvivo in Cork announced 100 and the establishment of their Cork engagement hub.

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