IDA Ireland has announced a decrease in the number of job projects secured in 2024 compared to the previous year, with 234 projects expected to generate 13,500 new jobs. This marks a decline from the 248 projects and 19,000 jobs forecasted for 2023. However, the agency remains confident in Ireland’s appeal to international investors, despite global challenges.
As of 2024, IDA client companies now employ over 302,500 people, reflecting a net increase of 601 jobs from last year. This means that approximately 11% of Ireland’s workforce is employed by multinationals supported by IDA Ireland. It is the third consecutive year that the number of jobs in IDA client companies has remained above the 300,000 mark.
The agency emphasized the continued strength of foreign direct investment (FDI) in the country, pointing to “strong balanced regional development” with 59% of FDI projects located outside Dublin. Additionally, 2024 saw a record €1.9 billion investment in research and development (R&D) across 64 projects.
Job growth was reported in several sectors, with modern manufacturing and traditional manufacturing seeing increases of 0.8% and 0.4%, respectively. Business, financial, and other services grew by 1.7%, while the information, communication, and technology sector saw a slight decline of 1.2%.
Michael Lohan, CEO of IDA Ireland, highlighted the resilience of Ireland’s FDI sector, noting that stable employment levels in multinational companies indicate continued growth and job security. He pointed out that significant capital investments made in Ireland over the past year have boosted the economy, creating highly skilled job opportunities across the country.
Minister for Enterprise, Trade, and Employment Peter Burke stressed that despite challenges such as Brexit, the COVID-19 pandemic, and the ongoing war in Ukraine, Ireland remains a preferred destination for both new investors and long-established companies expanding their operations. He emphasized the country’s competitive corporate tax regime, strong connectivity, and quality of life as key factors driving FDI.
In recognition of rising global competition for FDI, the government has allocated an additional €15.5 million in capital funding for IDA Ireland in 2025. This funding aims to support FDI initiatives focused on R&D, sustainability, and digitalization, as well as enhance regional development and enterprise solutions across the country.
Notable announcements for 2024 include significant investments by major companies such as Beckman Coulter, Bristol Myers Squibb, BioMarin Pharmaceutical, and Microsoft, which collectively announced the creation of thousands of jobs through expansions and new operations across Ireland.
