IDA IRELAND yesterday reported a jump of almost 20 per cent in foreign direct investment (FDI) during the first half of 2011, while also announcing 300 new jobs for the sector.
Speaking at the IDA’s mid-year briefing, Minister for Enterprise, Jobs and Innovation Richard Bruton announced that San Diego-based life sciences company Sangart was to create 120 jobs at a manufacturing facility to be built at Carrigtwohill in Cork.
Some 125 people will also be employed during the construction of the facility.
Another 120 jobs are to be generated by Belgian software provider BSB.
The positions will be based in Dublin, and will support the growth of BSB’s business across Europe.
International health insurance provider Allianz Worldwide Care also announced plans yesterday to add 50 more employees to its Irish staff. The new openings are available at the company’s Irish headquarters in Dublin’s Park West across a range of areas such as customer service, IT, nurse advisers, finance, marketing and claims.
“In particular we would encourage anyone with relevant experience who is fluent in French and those with the appropriate IT experience to get in touch with us,” said Claire Cusack, head of human resources.
A further 13 roles will be created in Dublin by Dutch financial services company Wolters Kluwer, with the potential for further growth.
These announcements came on the heels of a €50 million research and development investment with the creation of 100 jobs, unveiled by US electronics firm Analog Devices in Limerick on Wednesday.
Meanwhile, IDA Ireland said that 75 new investments were won in the first half of the year, compared with 63 in the same period a year earlier. Some 28 of this year’s investments were made by companies setting up in Ireland for the first time.
“In a marketplace where foreign direct investment into the EU was down 23 per cent last year it is extremely encouraging that IDA is having a strong performance in 2011,” chairman Liam O’Mahony said.
The IDA, which is tasked with attracting and developing foreign investment inflows, said it was on track to meet its investment and jobs target for 2011.
Job losses in the FDI sector are expected to fall to one-third of the level seen last year.
Chief executive Barry O’Leary said the State agency’s strategy was to target mid-tier and emerging companies in addition to top-level multinationals. It was focusing its energies on sectors such as life sciences, financial services and cloud computing.
Mr Bruton said there was a very positive FDI story “beneath the general mood that prevails”.
He said a “whole raft” of small companies on the west coast of the US were now looking beyond the US and they saw Ireland as a natural fit. “I think Ireland is well-placed to exploit those opportunities,” he said.
