Linked-In gives a big boost to Irish FDI jobs boom
Dublin attributes 19% growth in employment to the country's political and economic stability
Dublin — Microsoft’s LinkedIn is adding 800 new roles to its European HQ in Dublin, the latest major jobs boost in a record six months for foreign direct investment (FDI) in Ireland.
Similar boosts at Facebook and Salesforce contributed to a 19% year-on-year jump in the number of jobs announced so far in 2019, said the state agency competing for foreign business, attributing the surge to Ireland’s “stable political and economic environment”.
The strong performance underscores the strength of Ireland’s economic recovery, with a robust jobs market nearing full employment despite the risks of a global-growth slowdown and Brexit.
“Ireland’s position for companies going forward is that we will be in Europe and at the centre of Europe, and I think that resonates,” IDA Ireland CEO Martin Shanahan said on Thursday at the launch of an international advertising campaign to highlight the country’s EU membership.
“Our stability and sure-footedness and our consistent pro-enterprise policies are standing Ireland in good stead,” said Shanahan.
Foreign companies account for about one in 10 jobs among Ireland’s more than 2-million workers, benefiting from a corporate tax rate of only 12.5%.
Three years ago, the European Commission ordered Ireland to recover £13bn from Apple, saying the iPhone maker received unfair tax incentives in breach of its state-aid rules. Apple and Dublin are appealing against the ruling.
But this has done little to slow the flow of multinational jobs into Ireland, with new roles growing at a record pace last year. The 13,500 jobs announced to date in 2019 represented more than FDI firms added in the whole of 2013, when Ireland’s economic recovery took off.
The jobs at LinkedIn, a social network for professionals, will increase its Irish-based workforce to 2,000 over the next year. The company’s new 13,935m² head office Dublin will be completed by the end of 2020.
Facebook, which is building a 5.6ha campus in the city, said in January that it would hire 1,000 more people in Dublin this year. US cloud software maker Salesforce has said it plans to add 1,500 jobs over the next five years, one of the largest job commitments in the 70-year history of the IDA.