Thursday, 17 December 2020
Department of Enterprise, Trade and Employment
Foreign Direct Investment
My Department, along with the enterprise agencies under my remit, are doing everything possible to sustain businesses through the economic crisis caused by the COVID-19 pandemic and get people safely back to work.
The best way to attract further foreign direct investment into Kerry is to continue assisting IDA Ireland in their efforts to generate new investments and jobs in the County. Levels of FDI levels in Kerry have improved significantly in recent years. There are 18 IDA client companies in County Kerry employing approximately 2,200 people. Since 2012, Kerry has witnessed a 34% increase in employment in overseas companies. The County has maintained a strong reputation as a successful home to firms from the Pharmaceutical and Business Services sectors. Companies like Central Pharma, Sigmar Recruitment and Astellas are all located there and continue to perform well.
The IDA will continue to draw the attention of multinational firms looking to invest or expand in the South-West Region including Kerry. The Agency owns marketable lands in Tralee and Killarney and these sites are being actively marketed by the IDA through its network of offices in Ireland and overseas. The final decision on where to locate an investment is always decided by the client and not by IDA Ireland. Regular engagement and collaboration with stakeholders are important in positioning any regional location to attract FDI and in this respect IDA Ireland continues to engage with stakeholders as well as working with existing clients in all regional locations to generate additional jobs.
Remote working continues to be an opportunity in the future and will be considered as part of IDA Ireland’s new strategy 2021-2024. There will also be an increase in remote working opportunities offered by FDI particularly as the Covid-19 environment has accelerated this trend and provides further opportunity for client and stakeholder engagement (between Investment Agencies, Local Authorities, Education Training Board’s etc.). My Department is also focused on regional development and how we ensure Foreign Direct Investment can grow in a sustainable and inclusive way while strengthening indigenous enterprises in the forthcoming National Economic Plan.