Transforming the Economy in Ireland

About 75% of total exports comes from the foreign sector, creating a huge percentage of wealth in the region. Today, the FDI comprises more than 1,200 companies, employing more than 140,000 workers. To a large extent, it is the foundation of the whole economy.

Table 6-2. IDA Highlights, 1998 “2000

	1998	1999	2000
Total new jobs filled	15,996	18,079	24,717
First-time jobs out of total new jobs	14,436	16,277	20,257
Total full-time employment	115,981	124,664	141,258
Change in full-time employment	8,810	8,687	16,415
Total number of IDA -supported companies	1,140	1,279	1,278
Projects fully agreed	243	186	96
Source: IDA Annual Reports, 1998, 1999, 2000.

But the benefits extend far beyond the numbers . One of the huge advantages derived from the FDI sector is in developing the expertise of the indigenous population. Many people in Ireland have gained enormous experience either working directly in some of these world-class companies or by supplying these companies domestically. It has, in a very unique way, helped to grow a new indigenous Irish high-tech sector.