New strategy will:
The FDI sector, established and embedded in Ireland, is a national asset which has been transformative for the economy and the people of Ireland, accounting for 11% of total national employment and expenditure of over €38bn in the Irish economy annually. Ireland is viewed internationally as a centre for value and knowledge creation, exporting over €420bn in goods and services globally on an annual basis.
The new strategy, which is aligned with the Programme for Government and the White Paper on Enterprise, sets out IDA Ireland’s ambition for continued growth through four key strategic objectives;
STRATEGIC OBJECTIVES
Strengthen long term investment
IDA Ireland will prioritise retaining and renewing the 1,800 client companies based in Ireland, acknowledging their vital role in the Irish economy. We will partner with them as they aim to enhance their competitiveness and productivity through transformative talent development initiatives and assist them in navigating challenges and seizing opportunities in a changing global economy.
Scale cutting-edge innovation
Ireland's FDI base has helped position the country as a central hub for global technological innovation. The new strategy aims to build on the existing innovation ecosystem, enhance pan-European and global innovation linkages, and increase the scale and impact of innovation by supporting next-generation and collaborative research, development, and innovation (RD&I).
Drive sustainable change
IDA Ireland client companies are instrumental in shaping a green and digital global economy. Ireland has the potential to be a prime location for green-powered and digitally enabled enterprises. IDA Ireland will collaborate with clients to enhance their digital maturity and sustainability, while attracting a new wave of green and digitally enabled investments.
Maximise regional opportunities
Maintaining the strength of Dublin as a key global hub remains a strategic priority. The significance of our capital city enables the attractiveness of Ireland and supports our ambition for balanced regional development. IDA Ireland client companies employ over 165,000 people in regional locations across Ireland, benefiting from the local ecosystem, infrastructure, and talent to drive investments. The regional strategy has proven to be successful, and IDA Ireland is committed to further enhancing regional opportunities for clients by providing next-generation sites and building solutions.
TARGETS
In pursuit of these objectives, IDA Ireland will win 1,000 investments to:
Minister Peter Burke, Minister for Enterprise Tourism & Employment said: “I very much welcome the publication of IDA Ireland’s new strategy today and recognise the importance of ensuring we work together to protect FDI’s position as a cornerstone of Irish economic success. Ireland remains committed to foreign direct investment (FDI) as one of the key components of the Irish economy. We have proven adept in the past at anticipating and responding to shifts in the global landscape, realising growth opportunities as sectors evolved and new technologies emerged. In a period of marked global change and uncertainty, this strategy will direct the focus of IDA Ireland as it partners with client companies to enhance the resilience, productivity, and innovation of Ireland’s FDI base.
In a world of uncertainty, companies can be certain that Ireland remains determined to remain a leading location in which to grow, innovate and succeed. Through decades-long partnership across the public and private sector, Ireland has won investment and built up an FDI base in high value, cutting edge services and manufacturing sectors. Protecting this existing base, positioning it for further success and securing the next generation of investment is of critical importance. This strategy will ensure IDA adapts to a changed global landscape to achieve these ambitious objectives.”
Feargal O’Rourke, Chairman IDA Ireland said: “Our new strategy is designed to keep the FDI pipeline strong but also to recognise the importance of holding on to what we have. FDI companies in Ireland tell us of their need to constantly show relevance back at corporate HQ whether it is upskilling their employees with digital and AI skills, having a sustainable operation, or maximising their effectiveness and efficiency. Our role is to help our client companies in these areas and our strategy will underpin this. If we can lead, and play our part in delivering on our strategy, it will have a positive societal and economic impact for Ireland. While today marks the launch of our strategy, it also represents an opportunity for Ireland to recommit to a strong FDI strategy and to, in a sense, “renew our vows” to make Ireland the best, most sustainable and most welcoming country in the world for FDI.”
Michael Lohan, CEO IDA Ireland said, “Innovation, competitiveness, resilience and ambition are at the core of our new strategy that is designed to further propel FDI in Ireland. I am extremely proud of the performance by the IDA team who, in partnership with our 1,800 clients and stakeholders, have achieved exceptional results against the objectives set out in our previous strategy. The impact of FDI is reflected in every facet of the Irish economy from our employment numbers to our enterprise base, integrated supply chains and the development of critical infrastructure.
We are now ready to rise to the challenges of today. Our new strategy recognises the scope and scale of our clients’ activities, their transformational journeys, as well as the complexities of the global landscape in which IDA Ireland and our clients now operate. It identifies Ireland’s areas of strength and the opportunities for continued FDI growth. It is now absolutely crucial that we build on the solid foundation we have laid and focus on continued partnerships with the strong FDI base in every region in Ireland, to drive sustainable growth through capital investment, innovation and talent development that will strengthen, maintain and deepen our position as a location of choice for continued foreign direct investment.
Download Adapt Intelligently: A Strategy for Sustainable Growth and Innovation here
- Focus on winning, strengthening and maintaining long term investment with existing and new client base
- Secure 1,000 new investments will deliver €250bn to the Irish economy and further embed FDI clients in Ireland.
- Scale RD&I investment to €7bn to position Ireland at the centre of cutting-edge global technological innovation in next 5 years
- Enable upskilling of 40,000 people within IDA Ireland client base
- Support the creation of 75,000 new jobs across priority sectors of growth and opportunity
- Enhance balanced regional development through securing 550 investments into regional locations
- Support 35% reduction of carbon emissions by IDA Ireland clients and attract new green and digitally enabled investments
The FDI sector, established and embedded in Ireland, is a national asset which has been transformative for the economy and the people of Ireland, accounting for 11% of total national employment and expenditure of over €38bn in the Irish economy annually. Ireland is viewed internationally as a centre for value and knowledge creation, exporting over €420bn in goods and services globally on an annual basis.
The new strategy, which is aligned with the Programme for Government and the White Paper on Enterprise, sets out IDA Ireland’s ambition for continued growth through four key strategic objectives;
- Strengthen long term investment
- Scale cutting-edge innovation
- Drive sustainable change
- Maximise regional opportunities
STRATEGIC OBJECTIVES
Strengthen long term investment
IDA Ireland will prioritise retaining and renewing the 1,800 client companies based in Ireland, acknowledging their vital role in the Irish economy. We will partner with them as they aim to enhance their competitiveness and productivity through transformative talent development initiatives and assist them in navigating challenges and seizing opportunities in a changing global economy.
Scale cutting-edge innovation
Ireland's FDI base has helped position the country as a central hub for global technological innovation. The new strategy aims to build on the existing innovation ecosystem, enhance pan-European and global innovation linkages, and increase the scale and impact of innovation by supporting next-generation and collaborative research, development, and innovation (RD&I).
Drive sustainable change
IDA Ireland client companies are instrumental in shaping a green and digital global economy. Ireland has the potential to be a prime location for green-powered and digitally enabled enterprises. IDA Ireland will collaborate with clients to enhance their digital maturity and sustainability, while attracting a new wave of green and digitally enabled investments.
Maximise regional opportunities
Maintaining the strength of Dublin as a key global hub remains a strategic priority. The significance of our capital city enables the attractiveness of Ireland and supports our ambition for balanced regional development. IDA Ireland client companies employ over 165,000 people in regional locations across Ireland, benefiting from the local ecosystem, infrastructure, and talent to drive investments. The regional strategy has proven to be successful, and IDA Ireland is committed to further enhancing regional opportunities for clients by providing next-generation sites and building solutions.
TARGETS
In pursuit of these objectives, IDA Ireland will win 1,000 investments to:
- Secure €7bn in new RD&I investment
- Deliver 550 regional investments
- Reduce IDA Ireland client carbon emissions by 35%
- Create 75,000 jobs
- Upskill 40,000 people
Minister Peter Burke, Minister for Enterprise Tourism & Employment said: “I very much welcome the publication of IDA Ireland’s new strategy today and recognise the importance of ensuring we work together to protect FDI’s position as a cornerstone of Irish economic success. Ireland remains committed to foreign direct investment (FDI) as one of the key components of the Irish economy. We have proven adept in the past at anticipating and responding to shifts in the global landscape, realising growth opportunities as sectors evolved and new technologies emerged. In a period of marked global change and uncertainty, this strategy will direct the focus of IDA Ireland as it partners with client companies to enhance the resilience, productivity, and innovation of Ireland’s FDI base.
In a world of uncertainty, companies can be certain that Ireland remains determined to remain a leading location in which to grow, innovate and succeed. Through decades-long partnership across the public and private sector, Ireland has won investment and built up an FDI base in high value, cutting edge services and manufacturing sectors. Protecting this existing base, positioning it for further success and securing the next generation of investment is of critical importance. This strategy will ensure IDA adapts to a changed global landscape to achieve these ambitious objectives.”
Feargal O’Rourke, Chairman IDA Ireland said: “Our new strategy is designed to keep the FDI pipeline strong but also to recognise the importance of holding on to what we have. FDI companies in Ireland tell us of their need to constantly show relevance back at corporate HQ whether it is upskilling their employees with digital and AI skills, having a sustainable operation, or maximising their effectiveness and efficiency. Our role is to help our client companies in these areas and our strategy will underpin this. If we can lead, and play our part in delivering on our strategy, it will have a positive societal and economic impact for Ireland. While today marks the launch of our strategy, it also represents an opportunity for Ireland to recommit to a strong FDI strategy and to, in a sense, “renew our vows” to make Ireland the best, most sustainable and most welcoming country in the world for FDI.”
Michael Lohan, CEO IDA Ireland said, “Innovation, competitiveness, resilience and ambition are at the core of our new strategy that is designed to further propel FDI in Ireland. I am extremely proud of the performance by the IDA team who, in partnership with our 1,800 clients and stakeholders, have achieved exceptional results against the objectives set out in our previous strategy. The impact of FDI is reflected in every facet of the Irish economy from our employment numbers to our enterprise base, integrated supply chains and the development of critical infrastructure.
We are now ready to rise to the challenges of today. Our new strategy recognises the scope and scale of our clients’ activities, their transformational journeys, as well as the complexities of the global landscape in which IDA Ireland and our clients now operate. It identifies Ireland’s areas of strength and the opportunities for continued FDI growth. It is now absolutely crucial that we build on the solid foundation we have laid and focus on continued partnerships with the strong FDI base in every region in Ireland, to drive sustainable growth through capital investment, innovation and talent development that will strengthen, maintain and deepen our position as a location of choice for continued foreign direct investment.
Download Adapt Intelligently: A Strategy for Sustainable Growth and Innovation here
