IDA back 4,000 Louth jobs in multi-nationals

THE IDA are supporting 3,903 jobs in multi national companies across Louth, according to the latest figures released this week by Minister for Business, Enterprise and Innovation, Heather Humphreys.

The IDA work exclusively on encouraging investment into Ireland by foreign-owned companies, and provide a range of financial supports to companies in the form of employment, capital, research and development, environmental and training grants.

‘ These grants remain an important means of encouraging firms to invest in Ireland, particularly in regional locations, said the Minister in reply to a Dail question from Louth TD Fergus O’Dowd.

She added: ‘ The government is fully committed to the creation of high quality and sustainable employment across Ireland, including in County Louth. There are now 3,903 people employed in IDA client companies in Louth with 139 net new jobs added in 2018.’

The Business and Enterprise Minister explained that the new National Development Plan ‘recognises the importance of Dundalk and Drogheda as key centres in the context of the Dublin-Belfast economic corridor.’

‘Both towns have a strong track record in attracting multi-national companies due to the quality of the local infrastructure as well as their proximity to Dublin’s transport hubs. I am therefore confident that we will be able to sustain and grow investment levels in County Louth, said Minister Humphreys’

The IDA currently support some of the biggest employers in Louth, including National Pen, PayPal, Xerox, Wasdell, Prometric, and Chinese pharma firm WuXi Biologics which announced in 2018 it will create 400 new jobs over five years at a new bio pharma manufacturing facility in Mullagharlin.

The number of jobs created by IDA companies in Louth has tripled from 1,300 in 2010 to almost 4,000.

In addition, the Minister added that Enterprise Ireland supported companies employed 215,207 people throughout Ireland in 2018. Latest figures showed that in 2018 alone there was a total of €3,079,928 paid by Enterprise Ireland to client companies in Louth.

‘Enterprise Ireland is actively working with companies in Louth to drive competitiveness, innovation and market diversification.’

She added that ‘LEO Louth is the first-stop-shop for anyone wishing to start a business in the area.

Former Tánaiste and Minister for Business, Enterprise and Innovation Frances Fitzgerald TD, with Bill Graebel (right), CEO of Graebel Companies Inc, and Martin Shanahan, CEO, IDA Ireland at the official opening of Graebel’s newly established Europe Middle East and Africa (EMEA) Financial Shared Services and Operations Centre in Dundalk, Co. Louth with the creation of 125 new jobs over the next three years in September 2017.