Number employed by IDA-backed firms falls

The number of people employed by IDA-supported firms fell last year despite the creation of over 8,000 new jobs.

There were 10,044 job losses last year at firms sponsored by the IDA, while 8,837 new positions were created resulting in an overall decline of 1,207 jobs during the year.

According to the State agency's end-of-year statement, which was released today, there are 136,000 full-time employees working at companies supported by the IDA.

The number of new companies investing in Ireland for the first time rose 16 per cent last year and 2008 saw a 14 per cent increase in the number of investments from IDA supported Foreign Direct Investment (FD) companies on the previous year.

A total of 130 Foreign Direct Investment Projects were won in 2008 and there was a 22 per cent increase in Research, Development and Innovation projects.

"Despite the economic uncertainty which will have a negative impact on the Irish and global economies IDA remains guardedly optimistic of Ireland's ability to continue attracting high level FDI in 2009 and beyond," said IDA chief executive Barry O'Leary this morning.

"It is important to recognise that even in turbulent economic times there is still FDI to be won and our competitors will not be slow in targeting opportunities. A firm focus and a positive attitude in our ability to win FDI, by all stakeholders in Team Ireland, are key ingredients to a successful outcome," he added.