IDA: Multinational investments mean 1,500 construction jobs
The IDA has said up to 1,500 building jobs will be created over the next two years, following a number of Foreign Direct Investment announcements.
The agency said investment by companies like Apple, Google, Eli Lilly and Boston Scientific will mean 1.5 million square feet of new buildings will be needed.
The new buildings will be required predominantly for manufacturing.
The Jobs Minister Richard Bruton has said, whilst the construction sector grew to unsustainable levels during the boom it is now unsustainably too small, and the growth of multinational companies will help it get back on its feet.
Barry O’Leary, IDA chief executive, said: “Announcements in recent days have shown the direct contribution foreign direct investment can make, but what is sometimes overlooked are the secondary or spillover effects.
“Chief among these is the boost to the construction trade with a demand for new build growing rapidly.
“This will mean fresh demand for 1,500 construction workers.”
The new buildings are required for the life sciences, ICT and data centre sectors and are separate from the take up of office space by other IDA clients in Ireland in recent times.
Latest figures show the unemployment rate edged back slightly last month to 14.3%, with 434,054 on the Live Register. But the number of long-term claimants, who were signing on for a year or more, rose by 10.7% in the last 12 months to 184,465.
Minister Bruton said the construction sector has to play a role in Government targets to create 200,000 jobs in eight years.
“We all know that the sector grew to unsustainable levels during the boom - but it is equally true that it is unsustainably small now,” he said.
“Through the Action Plan for Jobs and Budget 2012 we will implement a series of measures to help the sector get back on its feet, and the growth of multinational companies is a small but very important part of this.
“This is another side of the very important work the IDA is doing and they deserve to be congratulated on this.”
Tom Parlon, director general of the Construction Industry Federation, said foreign direct investment has been one of the few sources of optimism to the construction industry at a time when there has been little activity and high levels of unemployment in the sector.
“Many of the companies being brought to Ireland are undertaking major commercial and office construction projects to meet their needs, with the announcement by Apple that they are to construct a new building in Cork being the latest example,” he added.
“The jobs and economic impact generated by these new projects will be a shot in the arm to the industry and we hope to see further investment in the months and years ahead.”
