Eugene Murphy (Roscommon-Galway, Fianna Fail) | Oireachtas source

Quite a lot of them are. Do those Members give those people their opinions on foreign direct investment? Do those Members think of the catering company that created seven jobs because it has the contract in some of those foreign direct investment companies? Do they take the same attitude to the family shop that opened near the factory and in which the family is able to make a living? I do not believe they do.

Let us consider some of the figures. Foreign direct investment provides jobs for over 300,000 people in this country. It is interesting to consider IDA Ireland's comment that for every ten FDI jobs created, another seven are generated in the wider economy. Some 70% more jobs are created in addition to the initial jobs created. In 2016, Dublin was ranked third in the world for foreign direct investment. It beat Hong Kong into fourth place in taking that position. Dublin is ahead of New York, Paris, San Francisco, Beijing, Copenhagen, Tokyo, Dubai and Shanghai. In 2015, FDI here rose by 4% while it was falling by 9% in other parts of Europe. Software is the big attraction and many jobs are being created in that area.

Foreign direct investment comes to this country for a number of reasons. We have less red tape, a highly educated workforce, skilled sector exports, much investment in research and development and we are English speaking. Ireland is identified as the number one destination for US foreign direct investment in a 2014 report commissioned by the American Chamber of Commerce. American companies have invested €240 billion in foreign direct investment in Ireland. I ask the Members who oppose this motion to pay attention. Some 130,000 people are employed here in US companies. Those companies have invested more than €277 billion in this country.

I partly agree with Deputy Martin Kenny that my part of the country has not received as much of that foreign direct investment as we would like. Where we had it, some of the companies fell apart-----

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