IDA Ireland, the inward investment agency of the Irish Government, today reported continued investment in 2020 despite the serious disruption to business caused by the COVID-19 global pandemic.
246 new investments were won in 2020 and20,123new jobs were created. 95 investments were from new investors and 151 investments from existing companies.128 (52%)of the 246 projects won were for regional locations.
Total employment in IDA Ireland client companies in Ireland now stands at 257,394, accounting directly for 12.4% of COVID-adjusted national employment, up from 10.7% in 2019 as a result of the severe impact of the pandemic on certain domestic facing sectors and the employment growth within IDA Ireland’s client base.
An Tánaiste& Minister for Enterprise, Trade & Employment Leo VaradkarT.D. said: Despite a year of unprecedented challenges to our economy, these results show that foreign direct investment has been remarkably resilient. We still saw a net increase in FDI jobs of nearly 9,000 in 2020. This is a testament to the attractiveness of Ireland as a destination for companies seeking to invest.
Martin Shanahan, CEO IDA Ireland said: “In the context of the COVID-19 global pandemic, FDI’s performance is remarkable. It is encouraging that Ireland has been able to secure such a significant number (246) of investments and grow employment in 2020, a year of unprecedented disruption to global business and adverse impact on global economies.”