Developing and Deepening the Impact of Foreign Direct Investment

The strong performance in new job creation from multinational companies in 2011 can be further enhanced via targeted action, therefore in 2012 we will:

5.1 Work to target another 144 new FDI investment projects, in line with the 2011 result, which represents a significant challenge given the external outlook. (IDA Ireland)

5.2 Target 12,500 new jobs with an associated 8,750 in wider the economy giving a total impact of 21,250 in 2012. (IDA Ireland)

5.3 Achieve €500m in R&D investment approvals to have a total annual R&D spend by multinationals here of €1.7bn by 2014. (IDA Ireland)

5.4 Secure new growth market investments with an ambitious target of 1,000 associated jobs. (IDA Ireland)

5.5 Deliver 50% of investments outside the Dublin and Cork regions. (IDA Ireland)

5.6 Deliver the Diaspora job finder’s fee scheme – Succeed in Ireland. (IDA Ireland)

5.7 Introduce a package of measures in the Finance Bill to support the continued success of the international funds industry, the corporate treasury sector, the international insurance industry and the aircraft leasing industry. (D/Finance)

5.8 Introduce a Special Assignee Relief Programme to allow multinational and indigenous companies to attract people to Ireland so as to create more jobs and to facilitate the development and expansion of businesses in Ireland. (D/Finance)

5.9 Utilise Global Irish Network as official advocates of new and expanded FDI investment in Ireland including introductory meetings, briefings and establishing a restricted website access portal on IDA Ireland website to provide communication and information to relevant Diaspora. (D/FAT / IDA Ireland)

5.10 Intensify focus on attracting sub‐suppliers to existing multinational base to locate in Ireland. (IDA Ireland)

5.11 Enterprise Ireland and the IDA will establish a senior management team to deliver on key priorities such as:

• Attracting inward entrepreneurs;
• Maximising procurement opportunities for Irish business with MNC’s; and
• Coordinating a new faculty of leading edge companies to provide peer to peer learning to Irish companies.

In addition, the Enterprise Ireland and the IDA will explore opportunities to further strengthen linkages including an ‘informal adoption’ arrangement between MNCs and SME’s (Enterprise Ireland, IDA Ireland)