Number of companies that have made formal inquiries to government departments, State agencies or the Central Bank in regard to relocating here as a consequence of Brexit
To ask the Minister for Jobs; Enterprise and Innovation the number of companies that have made formal inquiries to government departments, State agencies or the Central Bank in regard to relocating here as a consequence of Brexit; the number of jobs that have been created here as a direct consequence of companies locating here as a result of Brexit; the number of jobs she expects to be created as a consequence of companies locating here; and if she will make a statement on the matter.
The IDA continues to work hard to secure new foreign direct investment (FDI) for Ireland, including from companies that may be attracted to locate or expand here on account of Brexit. Convincing these companies to invest in Ireland, however, can be a delicate process that requires perseverance and patience. This is especially the case with regard to Brexit-related investment. It is therefore not in the country’s interests to describe, in detail, the engagement to date between the IDA and new investors or any inquiries that the Central Bank may have received. In fact, to do so would risk both compromising the progress that has been made with prospective new clients of the IDA and losing the potential jobs that might accompany any such new future investment here.
It is not possible to quantify the precise number of FDI-related jobs that may have been created here on account of Brexit. That is partly because companies that have expanded or invested in Ireland over the last 12 months have done so for many different reasons, not simply because of the UK’s decision to withdraw from the European Union.
I am confident that Ireland will remain attractive to new investment in the time ahead, whether Brexit-related or otherwise, and that we will continue to see significant FDI-related job creation. That is because the attributes that have made this country one of the leading global locations for FDI – including our talented workforce, first-rate education system and pro-enterprise policy environment – continue to be highly valued by multinational companies.