Bernard Durkan (Kildare North, Fine Gael)
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327. To ask the Minister for Jobs, Enterprise and Innovation the issues most likely affecting the determination of foreign companies in the course of their job-creating investment proposals in this jurisdiction; the degree to which such issues are being addressed; and if he will make a statement on the matter. [19007/13]

Richard Bruton (Dublin North Central, Fine Gael)
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Attracting Foreign Direct Investment (FDI) to Ireland has been one of the key pillars of Ireland’s industrial policy over the last 40 years. That policy has proved to be particularly successful as, at the end of 2012, there were 152,785 people employed in over 1,000 IDA client companies which, in turn, result in another 100,000 spin off jobs in the Irish economy. The net effect is that 1 in 7 Jobs in the Irish economy is accounted for by FDI. FDI is a key stimulator and driver of the Irish economy through its contribution to Exchequer finances, exports and research and development.

Interaction with companies who have decided to invest in Ireland continuously highlights that there are many factors which attract such companies to this country. We have stable government, an attractive corporation tax rate, a young educated workforce, a technologically advanced environment and a strong track record in winning FDI. In addition, Ireland is a member of the EU and the Euro zone. Another factor which weighs heavily in our favour is the pro-business environment which permeates our economy.

It is for these reasons that the IMD World Competitiveness Yearbook 2012 ranks Ireland very favourably in a number of key areas of importance for FDI. The survey ranks Ireland:

- First for availability of skilled labour

- First for flexibility and adaptability of workforce

- First for investment incentives

- First for attitudes towards globalisation

- Second for business legislation- openness to foreign investors

- Second for large corporations that are efficient by international standards

- Second for adaptability of companies

- Fourth for Corporate Tax rate on profit and real corporate taxes

I am mindful that, in order to ensure that Ireland can continue to compete globally for FDI projects, it will be necessary to undertake an in depth analysis of our FDI strategy with a view to informing the formulation of an appropriate strategy for the period post 2014. This analysis, which will be undertaken later this year, will take account of factors such as key trends emerging in FDI best practice internationally, Ireland’s strengths in attracting FDI, any changes to the EU’s State Aid rules that may be introduced in the near future and our agreed approach to regional development.