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Over €300m Invested In Ireland In The Past Week, Says IDA

Published on Jun 6 2017 10:21 AM in General Industry tagged: Martin Shanahan / IDA Ireland / IMD Global Competitiveness

Over €300m Invested In Ireland In The Past Week, Says IDA

Over 600 Jobs were announced and €300 million was invested in Ireland over the last week due to foreign direct investment.
IDA Ireland CEO Martin Shanahan asserted that it "has been a remarkable week for foreign direct investment across Ireland. It is hugely encouraging to see that the flow of multinational companies choosing Sligo, Carlow, Cork and Dublin as their destinations of choice has continued, despite global economic headwinds.”
It has also been an excellent week for Ireland in terms of its global positioning. The IMD Global Competitiveness Yearbook rankings cited Ireland as 6th for overall competitiveness out of 63 countries surveyed.

"The report found that Ireland is the global leader when it comes to productivity, investment incentives and our ability to attract and retain talent. These are the crucial factors that FDI companies value when investing in a country. IDA estimates that for every ten jobs generated by Foreign Direct Investment (FDI) directly, another seven are generated in the wider economy. We have never had more people employed in foreign companies here in Ireland in the history of the state," said Shanahan.

He added that, "In order to continue to attract record numbers of FDI into Ireland we must always strive to innovate and overcome obstacles to growth. IDA Ireland will continue to coordinate with the government to ensure that Ireland is promoted across the globe as an attractive destination for business while also working to keep Ireland best positioned to win all available investment opportunities.”

This week's announcements included news that global healthcare company Abbott will be investing almost €10 million in a new building in the Finisklin industrial estate in Sligo, a declaration from global biopharmaceutical company MSD that it will be creating 330 new jobs and investing €280 million over the next three years at two of its Irish manufacturing sites in Carlow and Cork, news that Grant Thorton will be creating 250 new jobs across all areas of its business operations in Ireland, and an announcement from Takeda Pharmaceutical Company Limited that construction will begin on a new €40 million high value production facility at its existing Grange Castle site in Ireland, which will create 40 jobs.

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