The Investment and Development Agency of Ireland (IDA)

One of the great driving forces for the Irish success story is IDA Ireland. First established in 1949, and originally named the Industrial Development Authority, it was given the authority to attract new industrial investment in Ireland in the capacity of a civil service body. Under the statute , the IDA had a dual function to advise the minister on industrial development and to promote greater investment in Irish industry.

In 1969 the IDA transitioned from being limited to having full autonomy. The IDA became a non-civil-service, state-sponsored agency and was renamed Industrial Development Agency. Legislative measures covered IDA promotion, capital grants, the development of industrial estates, and advance factories. This gave the IDA greater license to become entrepreneurial in its mission.

Through IDA's efforts, Ireland is promoted as the ideal location for foreign companies to undertake global expansion to the EU market and beyond. And indeed, international companies play an important role in the growth of the economy in Ireland, which has become the ideal export base to penetrate the European market. Its earlier objective of job creation was met with considerable success. But the globalization of business means that, in order to respond to the global trends, the features of Ireland's competitive advantage must also change to meet the needs and challenges of the international companies operating in Ireland. In 2001, IDA became the Investment and Development Agency of Ireland.