IDA Ireland, the inward investment promotion and development agency of the Irish Government, reported a record breaking year for FDI employment with significantly higher levels of Foreign Direct Investment (FDI) in 2021 compared with 2020 and strong gains recorded in both gross and net employment.
Total employment in IDA client companies in Ireland now stands at 275,384, up 16,826 on 2020. 104 of the 249 investments won in 2021 were new name investments, a better than anticipated new name performance considering the ongoing restrictions due to the pandemic.
Growth in employment in 2021 brought the number of people employed in the FDI sector in Ireland to 275,384 from 258,558 last year. Job losses remained at a relatively modest level relative to the size of the overall portfolio resulting in an extremely strong net employment growth this year – (16,826 net increase).
Growth in regions was particularly buoyant with 53% – 133 projects of the 249 investments won going to regional locations and employment growth recorded in every region of the country.
The strong growth in regional investment was supported by IDA Ireland’s property programme. A robust property and infrastructure ecosystem can be the key differentiator in winning FDI projects, as evidenced by the record regional results achieved under IDA’s Winning 2015-2019 strategy. This positive momentum has been maintained since the commencement of our new strategy.
The 2021 figures show a pattern of sustained, robust growth in FDI investment and FDI-related employment over a continuous period of more than ten-years. This year’s results represent a strong start to IDA’s new 2021-2024 strategy, Driving Recovery and Sustainable Growth, which seeks to further enhance FDI’s place at the centre of a resilient, sustainable, and inclusive Irish economy.
