Louise O'Reilly (Dublin Fingal, Sinn Fein)
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63. To ask the Minister for Enterprise, Trade and Employment the financial return generated from IDA Ireland investments in 2022; and the projected return for 2023. [23473/23]

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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64. To ask the Minister for Enterprise, Trade and Employment if all monies generated by IDA Ireland from investments is kept by Enterprise Ireland to reinvest. [23474/23]

Simon Coveney (Cork South Central, Fine Gael)
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I propose to take Questions Nos. 63 and 64 together.

The financial return to the Irish Economy from investments by IDA Ireland client companies each year is reflected in the number of expansions, new name investments and jobs created as reported in the Annual Employment Survey (AES) and the return to the Exchequer as reported in the Annual Business Survey of Economic Impact (ABSEI).

IDA Ireland does not hold investments in client companies and therefore does not receive dividend income.

In 2022 there were a total of 1,796 companies in the IDA Ireland client portfolio with a total employment level at 301,475 as per the Annual Employment Survey 2022. This followed 242 investments in 2022 out of which 103 were new name investments.

The Annual Business Survey of Economic Impact (ABSEI) provides information on the economic impact of IDA clients on the Irish economy. It includes information on exports, R&D investment and employment, payroll, Irish sourced materials and services, capital expenditure and staff training spend.

The ABSEI figures for 2021 shows a return on investment by IDA Ireland client companies as follows:

The 2023 AES figures and 2022 ABSEI figures will not be available until year end 2023.

In 2022 IDA Ireland continued the pattern of sustained, robust growth in FDI investment and FDI-related employment that has been achieved over a continuous period of more than ten years. However, there are still serious global challenges and uncertainties, and the global economy faces serious headwinds in 2023 with the continuing Russia-Ukraine war, inflation, monetary policy, and geo-political developments.

With that said, IDA Ireland will continue to work harder than ever in the year ahead to win new investment. IDA Ireland will remain close to its client base at this time of uncertainty and support companies to review their global cost base to remain competitive. A focus on transformation is more important than ever if companies are to remain competitive amid an accelerating shift towards a low carbon and high-tech economy. The resilience and longevity of MNCs in Ireland reflects their ability to constantly transform in response to change. IDA is engaging with clients on RD&I, training, digitisation, and sustainability related investments to ensure the FDI base is positioned for continued success in the future.