IDA firms avoid Clare

WHEN Ireland emerges from the economic mire, it’s likely that exports will be the driving force behind recovery but it seems that IDA firms are giving Clare a wide berth.
This week, IDA Ireland released its end of year statement for 2010, which told of a good year for foreign direct investment in Ireland, with a number of companies investing here for the first time.
However, somewhat disappointingly, the section of the report dealing with regional development showed that no IDA-assisted companies had chosen to make a major job-creating investment in Clare.
This was despite half of all investments coming outside of Dublin and Cork. During the year, IDA Ireland client companies created almost 11,000 new jobs, significantly up on the previous year’s level.
Speaking after the statement’s launch, Enterprise Minister Batt O’Keeffe said, “Despite the period of global recession over the past two years, our value proposition to multinational firms either operating here or choosing to hub in Ireland for the first time remains one of the strongest in the world.
“The combined influence of Ireland’s increased competitiveness, commitment to our 12.5% corporate tax rate and quick and decisive measures taken by the Government to combat the challenging economic situation has resulted in an excellent flow of foreign direct investment,” he added.
IDA Ireland CEO Barry O’Leary also expressed satisfaction. “Export-led growth is feeding through in the employment portfolio of IDA’s clients, which created almost 11,000 new jobs in 2010, significantly up on the previous year’s total of 4,615.”