Brexit pushes 70 companies to invest in the Republic - IDA

More than 5,000 jobs have been created as a result of Brexit

IDA Ireland chief executive Martin Shanahan. Photograph: Dara Mac Donaill/The Irish Times

IDA Ireland chief executive Martin Shanahan. Photograph: Dara Mac Donaill/The Irish Times

 

Brexit has pushed 70 individual investments in the Republic, the State’s inward investment agency, IDA Ireland, has said.

Since the UK’s referendum on EU membership in 2016, the 70 Brexit-related investment have led to more than 5,000 jobs being created.

“These updated figures are another reminder of how our European Union membership and stable pro-enterprise policies are appealing to investors who are looking for certainty,” IDA Ireland chief executive Martin Shanahan said.

Speaking in New York, Mr Shanahan added that Ireland is a natural fit for “US companies with ambitions to be global players” for their international operations.

In January, IDA noted that nearly 230,000 people are now employed in foreign companies that have invested in the Republic.

Some of those companies that have made the move here as a result of the UK’s vote include Barclays, Morgan Stanley, TD Securities, Wasdell, S&P Global, Thomson Reuters and Coinbase.

According to a Brexit tracker by professional services firm EY, Dublin remains the most popular choice for financial services companies to relocate to.