Oireachtas Joint and Select Committees

Thursday, 19 September 2013

Public Accounts Committee

Annual Report and Accounts 2012: Discussion with IDA Ireland

11:40 am

Mr. Barry O'Leary:

My understanding is that the figure is approximately 100,000 for Irish companies abroad. However, one must be careful in terms of comparing like with like. The business we are in involves companies coming to Ireland to engage in international activities. A lot of the Irish investment in the United States, for instance, is different. If one takes Cement Roadstone as an example, it employs 20,000 to 30,000 in the USA, but it is supplying cement to the US market and therefore it has to be located in the country. Such companies are not necessarily bringing the same degree of additionality in the economy. There is not much difference between the Mexican cement company and the Irish one, in that sense. Therefore, one is not comparing like with like.