IDA Ireland has a deliberate strategy to diversify investment around Ireland

SIR,

In the ‘Our view’ editorial carried in your newspaper last week (Wednesday, November 27) titled ‘Broadband plan is a start but rural areas need more than fast internet’, it is stated: ‘With better broadband across the country it would be nice to see the IDA taking advantage and working to bring more investment to areas outside Dublin and Cork’.

IDA Ireland is focused on winning investment for regions across Ireland and has worked tirelessly throughout the lifetime of its current strategy ‘Winning – Foreign Direct Investment 2015-2019’ to increase the number of investments for regions. This focus has resulted in 407 projects secured for locations outside Dublin up to the end of 2018 and a further 48 projects won in the first half of this year (January to end of June 2019).

27,000 new jobs have been created on the ground in locations outside of Dublin between 2015 and 2018. 47 per cent of IDA Ireland clients are located outside Dublin and 58% per cent of total employment in IDA Ireland client companies is outside Dublin.

Our data shows that for every 10 jobs created by FDI in Ireland, eight more jobs are generated in the wider economy.

Examples of new investments announced for regions this year which show the spread of regional investment include Meissner in Mayo, GW Plastics in Sligo, JRI America in Kerry, WuXi Vaccines in Louth, ASG in Waterford and Sligo, Greenfield Global in Laois, Johnson & Johnson Vision Care in Limerick, Liberty Insurance in Cavan, AB Agri and Security Risk Advisors in Kilkenny, Opus Fund Services in Wexford and Rent the Runway and The Knot Worldwide in Galway, among others.

It is also worth noting the longevity, resilience and commitment of multinational companies in Ireland. One third of MNCs in Ireland today have been here for 20 years, others have been operating successfully here for 25, 30 and more years.

As well as working to attract new investment to regional locations, IDA Ireland supports established companies to continue to transform and grow their operations, adding additional jobs.

IDA Ireland has been pursuing a deliberate strategy to diversify investment locations around Ireland and that work will continue into the future, Sincerely,

Denis Curran,

Divisional Manager,

Regional Business Development IDA Ireland