“Foreign investment by IDA client companies directly created 1,408 high-skilled jobs in Limerick from 2011 to 2014 and based on a conservative calculation these jobs have resulted in approximately 990 additional indirect positions in the local economy through supply companies and support services. This brings to approximately 2,400 the number of new jobs in Limerick due to IDA Foreign Direct Investment (FDI)” says Patrick O’Donovan, Fine Gael TD for Limerick.
“IDA investment is important in directly creating opportunities for our skilled workforce. However as every ten jobs generated by FDI create another seven in the wider economy; there is also a significant knock-on effect for local areas.
“Limerick has a lot to offer investors and business owners; we have the skilled workforce, we have the infrastructure and local services are constantly improving to meet the needs of those doing business here. The news that the IDA has brought approximately 2,400 jobs to the area is very encouraging, especially considering the fact that the majority of FDI has traditionally been concentrated in the main population centres of Dublin and Cork.
“The IDA has targeted growing investment outside of these areas and as part of this strategy 37% of investments in 2014 were outside Dublin and Cork; this is up from 30% the previous year.
“This year the Action Plan for Jobs will launch the Regional Development Strategy; a pilot programme aiming to capitalise on the strengths of each region with the aim of increasing investment and job creation in all parts of the country. I am confident that this strategy will bring further jobs growth to Limerick in the coming year.
“The latest Live Register figures show that the unemployment rate nationally has dropped to 10.6% from a high of 15.1% in 2012. In Limerick the unemployment rate has fallen by 25.5%. Thanks to the sacrifices people have made it is now possible for the Government to cut taxes. Every household with somebody in full-time work will have more money in their pockets this month and we’re committed to reducing personal taxation further this year.
“This Government is implementing a plan to grow the economy, create jobs and reduce unemployment to ensure that everyone feels the benefits of recovery and in order to create a better country. IDA investment is part of this plan but there is more to do and we remain focused on maintaining stability, creating more jobs and making work pay.”
