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The number of people employed by multinationals in Ireland hit a record high this year with over 29,000 new jobs created over the past 12 months.
New figures published by IDA Ireland show 275,384 people are directly employed by such companies, as against 257,394 last year. This marks the highest amount of new jobs created by multinationals locally.
Once job losses are taken into account there was a net increase in employee numbers to 16,826.
Of the 249 investments announced during the year, 133 were for regions outside of Dublin, equivalent to 52 per cent of all announcements. Some 104 announcements were made by companies establishing a presence in the Republic for the first time.
Speaking at a press conference, the State body’s chief executive Martin Shanahan forecast a recovery in foreign direct investment (FDI) in 2022 but said “significant uncertainties and risks persist”.
“Sustaining Ireland’s FDI performance requires a continued focus on capacity constraints and competitive challenges,” said Mr Shanahan.
‘Remarkable’ results
Also speaking at the event was Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar who said the results were “remarkable “given the impact of the coronavirus pandemic.
“I think this demonstrates the strength of our economy and the fortitude of our people. Despite immense challenges, we continue to maintain our reputation as an excellent place to invent. This is a testament to the talent of our workforce and our overall offering as a country,” he said.
The latest figures show there are now close to 1,700 multinational companies supported by IDA Ireland, accounting directly for 11 per cent of the Irish workforce.
Of the 249 investments made this year, 160 came from North America, with a further 69 from Europe.
Some 106,728 jobs created during 2021 were in the information and communications services sector, up 8.8 per cent year-on-year. Modern manufacturing accounted for the second largest number of new jobs at 96,319, a rise of 4.3 per cent on 2020. In addition, over 51,000 roles were created in the business, financial and other services sector, and nearly 22,000 in traditional manufacturing.