Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

71. To ask the Minister for Jobs, Enterprise and Innovation the number of jobs lost and created through foreign direct investment in each of the past five years to date in 2014; the future expectations in this regard; and if he will make a statement on the matter. [48696/14]

Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

72. To ask the Minister for Jobs, Enterprise and Innovation the degree to which Ireland remains an attractive location for foreign direct investment; and if he will make a statement on the matter. [48698/14]

Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

75. To ask the Minister for Jobs, Enterprise and Innovation the extent to which other European locations have been noted as serious competitors for foreign direct investment; and if he will make a statement on the matter. [48701/14]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 71, 72 and 75 together.

The Forfás Annual Employment survey reports on the job gains and losses in companies supported by the industrial development agencies. Data is gathered on an annualised basis and is aggregated at county level. Data for 2014 will not be available until early in 2015. Details of the number of jobs gained and lost in companies that are supported by IDA Ireland are set out in the following tabular statement.

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 2013 there were 161,112 people employed in IDA client companies. At the beginning of January 2014 IDA Ireland assumed responsibility for companies that had been clients of Shannon Development thereby increasing the number of people employed in IDA Ireland client companies to in excess of 166,000.

Ireland continues to compete very well in the international marketplace for investment. For example over 100 investments were secured by IDA Ireland in the first six months of 2014, compared to 70 at the same time in 2013. Of the investments secured, 40% came from companies investing in Ireland for the first time. Projects approved during the first half of 2014 will lead to the creation of 8,000 jobs during 2014 and over future years as the companies roll out their investment plans.

Ireland is very much the number one location of choice of companies that want to internationalise. US corporations are choosing Ireland as the location of choice for their global operations. Ireland is now a strong exporting nation, with particularly strong performances in sectors such as ICT, Med Tech and Pharma.

In recent days IBM’s key Global Locations Report described Ireland as the ``top performer in the world’’ in terms of the quality of the investments that are attracted here.

Ireland is a location which large multinationals know and trust. They have been coming to Ireland for decades, for our talent pool, competitive tax offering, technology infrastructure and track record. Forbes magazine named Ireland as the best country in the world to do business in December 2013.

Within Europe, Ireland’s FDI performance positions us in absolute terms inside the top ten European locations for investment projects, with the UK, Germany and France the top locations. The range of countries competing for FDI in Europe demonstrates the intensity of the marketplace to secure investments for Ireland.

The economics of the past 5 years has changed Europe’s FDI landscape. Over the period, the UK, Germany, Netherlands and Belgium have maintained investor confidence, confirming their position as safe havens for FDI, with low risk and sustainable profitability. Ireland successfully adapted to the demands of the international economy and cost competitiveness, talent availability and targeted sectoral focus were underpinned by the strong economic management and certainty on the 12.5% corporate tax rate.

The United States continues to be the largest single investor in Europe accounting for about 25% of all inward investment projects and job creation. While Ireland is a very significant recipient of US FDI, the competition is intense with the UK, Germany and France the major overall beneficiaries of US investment into Europe.

That having been said, IDA Ireland recognises the challenges for Ireland and its regions in attracting FDI and, with this in mind, a new IDA Ireland strategy will be launched early in the New Year, detailing goals and the broad direction IDA Ireland will take to accomplish them over the next five years.

Table showing the number of jobs gained and lost in IDA Ireland client companies in each of the 5 years, 2009 to 2013 inclusive