Skip to main content

FDI economic impact remains strong reflecting steady delivery of growth and transformative investments – IDA Ireland

FDI economic impact remains strong reflecting steady delivery of growth & transformative investment

Ireland’s proposition for FDI investment remains strong according to IDA Ireland as it today publishes mid-year results for 2024 alongside its latest Annual Report.

IDA Ireland continues to deliver an exemplary performance across foreign direct investment indicators as set out in its 2021-2024 strategy Driving Recovery and Sustainable Growth, having exceeded on targets relating to the total number of investments, job approvals, regional investment and number of sustainability projects supported by the agency.  

In line with this performance, the first six months of this year saw IDA Ireland support 131 investments, 74 of which are planned for regional locations, enabling the future delivery of 8,900 jobs to the economy against an increasingly challenging global operating environment.  

New investments secured by the inward investment agency since January include Pentagon Technologies whose state-of-the-art facility in Dundalk will create 100 jobs; automotive fleet manager, Element Fleet Management that is to set up a global leasing centre in Dublin creating 70 jobs; Evernorth Health Services which is to locate a new innovation hub in Galway that will create 100 jobs; and Motorola Solutions, who just today, announced its new global R&D Centre in Cork with plans to recruit 200 highly skilled staff to design technologies vital to the company’s global footprint of customers.

In addition to companies newly investing in Ireland this year, IDA Ireland has also announced a number of significant, transformative investments of scale from existing clients, such as IBM Ireland’s announcement in May that it would create 800 high-value roles across its sites in Dublin, Cork and at its subsidiary Red Hat in Waterford; and Bristol Myers Squibb’s $400m investment which will create 350 jobs, bringing the total number employed at its campus in Dublin to over 1,000 people.  

In its Annual Report 2023, IDA Ireland has called out the imperative of safeguarding the competitiveness of its client base, and that of the country, as the global FDI landscape becomes increasingly challenging and complex.  Ireland needs to remain agile as it evolves and adapts to emerging sectors and a more dynamic and highly competitive global landscape. The agency is committed to continuing to work with stakeholders to ensure ongoing investment and development in areas such as talent, infrastructure and energy supply which are central to the country’s competitiveness and critical to continued FDI success in Ireland. 

Peter Burke, Minister for Enterprise, Trade & Employment said: “Ireland continues to be recognised as a highly stable and attractive location for global investment. Our country has a reputation for being agile, with an economy underpinned by a dynamic ecosystem of global companies, indigenous enterprise and academia working in collaboration. Government remains committed to ensuring the right polices are in place to facilitate the development of appropriate   skills, infrastructure, and innovation to facilitate strong levels of FDI into the future.”    

Michael Lohan, CEO IDA Ireland said: “Ireland’s proposition as a location for FDI investment remains strong.  Against the backdrop of an intensely competitive global environment and the proliferation of industrial policies, it is imperative that IDA Ireland continues to attract and win new investments whilst at the same time continuing to support existing clients in their investment endeavours across the twin transition of sustainability and digitalisation. 

“Ireland has a track record of being nimble, demonstrating a level of agility that will be key to ensuring future success. IDA Ireland is partnering with our clients on delivering competitiveness-enhancing, transformative investments concentrating on R&D, digitalisation, sustainability and talent development to ensure the FDI pipeline remains robust.”

“I am very pleased to have welcomed several investments of significant scale in these areas so far this year that will deliver real and far-reaching impact to the economy. I am confident we will see more of these types of investments in the coming years. As we formulate the new IDA Ireland strategy for 2025 and beyond, we are committed to working with our stakeholders in furthering Ireland’s value proposition for enterprise development.”

IDA Ireland’s Annual Report 2023 is available for download here
 

You Might Also Be Interested In

  • 4 minute read
  • Published 26/06/2025

Astellas enhances Operations across Ireland with new projects in Kerry and Dublin

IDA Ireland today welcomes the commitment by Astellas, one of Japan’s largest life sciences companies and a leading developer and manufacturer of pharmaceutical products globally, to deliver a series of significant investments across its Irish operations.

Read more
  • 3 minute read
  • Published 26/06/2025

IDA Ireland welcomes expansion of IBM’s software developer presence in Waterford

Up to 75 high-quality software engineer jobs to be created to support IBM’s European and global mainframe businessThe Irish Government and IDA Ireland today welcomed IBM's announcement to create additional high-value jobs in the south-east of the country. The leading global technology company will, over the next three years, hire up to 75 software engineers, dedicated to research and development (R&D), based in Waterford. The roles will focus on cutting-edge innovation for IBM Z, the infrastructure powering 70% of global transactions by value*. The Waterford software engineers will closely collaborate with IBM’s R&D teams around the world, from designing processors and firmware to software development and advancing the Linux operating system. Peter Burke TD, Minister for Enterprise Tourism & Employment, said: “IBM’s decision to expand its operations in Waterford with the creation of up to 75 highly-skilled software engineering roles is very welcome news. This investment is a strong endorsement of the South-East region’s growing reputation as a hub for innovation and advanced technology. It also reflects the government’s commitment to supporting regional development and fostering strong partnerships between industry and academia. I commend IBM for its continued confidence in Ireland and for its collaboration with the South-East Technological University to build a future-ready workforce.” Jack Chambers TD, Minister for Public Expenditure & Reform, said: “I welcome this very positive development which underscores Ireland’s attractiveness as a location for businesses to invest in and to expand R&D operations. This strengthens IBM’s long-standing presence in Ireland where it employs thousands of people today. IBM has cited Ireland’s strong talent pool as a key factor in allowing the company to grow here, which reflects the significant increased investment by the Government in education, and particularly our third-level sector, over recent years. We are committed to supporting research and development in our tech sector, including in the South-East of our country, to drive balanced, regional development and economic growth.” In addition to the expansion of R&D functions in Waterford, IDA Ireland also welcomes IBM’s decision to deepen its collaboration with the South East Technological University, to develop a technical skills ecosystem with a focus on mainframes and Linux. Nathan Cullen, country general manager, IBM Ireland, said: “I am delighted to see our footprint in Ireland evolve further. This is testimony to the deep talent pools available across the country, upon which we have steadily built our business, including mainframes which are a cornerstone of global transactions. IBM has now operated in Ireland for nearly 70 years and this milestone investment for the region also speaks volumes about the ecosystem that has built up around the South Eastern Technical University.” IBM last year announced the recruitment of another 800 high-tech jobs in Ireland by 2027, cementing the country’s position as a globally strategic location for the company. These new roles, spanning R&D, digital sales and Consulting operations, will be spread across Dublin, Cork and Waterford. Michael Lohan, IDA Ireland CEO, said: “This R&D investment announced by IBM is fantastic news for Waterford and indeed the South East Region. This investment is also closely aligned to Adapt Intelligently: A Strategy for Sustainable Growth and Innovation, 2025-29, where IDA has committed to positioning Ireland at the centre of cutting-edge global technological innovation in the next five years. I warmly welcome this decision by IBM and assure them of IDA’s continued partnership.”

Read more