Job creation in Cork is encouraging

I am welcoming the very positive job creation figures from the IDA which were released this week. This is a strong indicator that Ireland is on the right track to economic recovery.

I am pleased to say that the figures from the IDA show its client companies created more than 12,700 in 2012.

This development is extremely welcome, the IDA’s client companies created more new jobs last year than in any year since 2002 when Ireland was in a very different place economically.

Over 40% of last year’s IDA projects were from companies coming to Ireland for the first time, this is very significant and proves that many of the world’s leading companies across many sectors view Ireland as an ideal place to locate a business.

Enterprise Ireland is also experiencing great progress, last week their results showed that Irish companies are striving ahead and expanding into new markets.

The multinational sector employs more than 150,000 people here. This has a positive knock on effect for the domestic economy; it is estimated that for every job created by an IDA or Enterprise Ireland firm, an additional job is created in the local economy.

I am also delighted that Cork experienced a boost in job creation from companies like Apple and Eli Lilly in 2012, it appears from the IDA figures that Cork is performing strongly and I will be working to ensure this trend continues in 2013.

The further investment in Cork which was announced today is alsol extremely welcome. The Chinese firm Huawei is to open a new research and development centre, spread across two sites in Dublin and Cork. This development will result in the creation of 50 jobs. Huawei is a prominent global ICT brand, the company best known among consumers for its USB dongles which connect to mobile broadband services.

Further jobs being created in the ICT area is a major sign of confidence in Cork and Ireland as a hub for the technology business. This new facility will see further investment from Huawei over a number of years and this could lead to future expansion of the company.