EMCC European Monitoring Centre on Change

IDA Ireland

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Ireland
Phase: Anticipation
Tipas:
  • Access to finance
  • Attracting investors
  • Matching/Networking
Last modified: 21 July, 2020
Projekto pavadinimas::

IDA Ireland

Angliškas pavadinimas:

IDA Ireland

Coverage/Eligibility

IDA Ireland works with companies operating in high end manufacturing, global services (including financial services) and research, and development and innovation. The key sectors within these areas for investment are: life sciences (pharmaceutical, biopharmaceutical and medical technologies); information communications technology (ICT); engineering; professional services; digital media, consumer brands; and international services.

Main characteristics

IDA Ireland is a government agency that provides information and statistical data on key business sectors and locations within Ireland. It also provides assistance in setting up a business in Ireland. The body introduces potential investors to local industry, government, service providers and research institutions. It offers international investors advice regarding property in Ireland, with the aim to attracting them to Ireland. IDA Ireland was founded in 1949.

Funding

  • National funds

Involved actors

National government
Funding.

Effectiveness

The IDA Ireland 2018 annual report shows that IDA Ireland client companies had direct employment of 229,057, indirect employment of 183,246 (a total of 412,303 jobs supported by FDI in Ireland).

IDA has the following indicators of success for 2018:

  • Total of Investments Approved: 265
  • Number of Greenfield Projects: 134
  • Number of Expansion Projects: 73
  • Number of Research, Development & Innovation Projects: 58
  • Investment in Research, Development & Innovation Projects: €1.2 billion
  • % of investments that located outside Dublin in 2018: 43%
  • % of jobs approved outside Dublin in 2018: 47%
  • Total R&D in-house expenditure: €1.8 billion

Strengths

IDA Ireland has a consistent record in attracting foreign direct investment (FDI) to Ireland.

It is increasingly focusing its efforts on attracting business to parts of Ireland outside of Dublin (in 2018, 58% of IDA-supported employment was outside Dublin). 

It has also focused energy towards mitigating Brexit-related negative impacts, emphasising EU membership, labour mobility, the common law system, and the English language. IDA approved over 80 Brexit-related investments with over 5,300 jobs, as of June 2019.

Weaknesses

Ireland is considered to be too reliant on foreign direct investment (FDI), on which the work of FDI Ireland is largely concentrated.

Over 70% of direct employment amongst IDA client companies in Ireland is from USA-owned companies, which, in the context of potential increased repatriation of American businesses, would suggest vulnerability. 

Pavyzdžiai

Essentire, Intel, Dell, Indeed, Microsoft, Pramerica, Medtronic, Google, Prometric, IBM, Amazon.
Šaltinis
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