Tipperary TD Noel Coonan has welcomed a commitment by IDA Ireland to boost Foreign Direct Investment (FDI) in Ireland by over 40%, creating 80,000 new jobs in the economy over the next five years.
Deputy Coonan has contacted Breda O’Toole, Head of Regions, asking that Tipperary ‘features strongly’ on their investment plan.
“IDA Ireland, the government agency responsible for attracting inward investment, has announced ambitious targets to boost Foreign Direct Investment (FDI) in Ireland. This is an ambitious national plan and it is vital it filters down to rural areas like Tipperary,” said Deputy Coonan.
“I have contacted the IDA to outline that FDI must be directed to Tipperary. I reiterated that our County has much potential and is strategically positioned in the Mid West. We need more FDI into Tipperary and I am asking the IDA use this opportunity to create real opportunities for Tipperary.
“The strategy was developed through extensive input from clients, stakeholders, the Minister for Jobs and his team, the IDA board, the executive leadership team and IDA team members. As part of this process an analysis of existing markets, sectors and new areas of potential was undertaken, as well as a thorough examination of Ireland’s value proposition for FDI,” continued Deputy Coonan.
The ambitious targets will bring total direct employment by overseas companies in Ireland to 209,000 people by 2019. This will be the highest level of employment from overseas firms in the history of the State and will deliver wide-ranging economic benefits for the people of Ireland.
The five-year plan for Ireland’s FDI offering, entitled Winning, was unveiled last week in Dublin and outlines the organisation’s high level strategic actions aimed at developing the sector further. IDA aims to win 900 individual projects over the next five years, increasing its investment target by over 40%. This will be based on an ability to respond to client’s needs efficiently, effectively and ahead of the competition.
As part of its growth strategy, IDA has committed to itself to increasing the level of investment into each region of Ireland by between 30% and 40%. IDA said by working closely with stakeholders in each region, as a cohesive team, it will be possible to achieve these goals. IDA will target the same high-level of investment Dublin has achieved over the past 5 years.
A €150m property investment plan, spread out over five years, will support the achievement of the organisation’s regional goals, the agency said. The Chief Executive of IDA, Martin Shanahan, said: “International competition for investment has never been more intense. IDA Ireland has set ambitious investment and jobs targets for the next five-years. In order to achieve these targets, a continuation of the pro-business policies that have been employed to-date is required and we need to maintain our competitiveness. To achieve the ambitious FDI regional targets in this strategy will require the support of all regional stakeholders to help develop attractive regional offerings.”