IDA predicts the creation of 1,500 building jobs through foreign direct investment

IDA predicts the creation of 1,500 building jobs through foreign direct investment

IDA Ireland said the recent strong flow of foreign direct investment projects will deliver a significant boost for the construction industry.

Ten recent investments will have a combined total requirement of over 1.5 million square feet, predominantly for manufacturing.

The IDA estimates this will lead to a need for 1,500 construction workers over two years.

Firms planning to build include Eli Lilly, Boston Scientific, Allergan, Microsoft, Analog Devices, Google and Apple.

The new buildings are required for the life sciences, ICT and data centre sectors and are separate from the takeup of office space by other IDA clients in Ireland in recent times.

IDA estimates, drawn from project announcements and planning data, reveal that in total 1.5m square feet of new construction will be needed, bolstering the construction industry at a particularly challenging time.

“Announcements in recent days have shown the direct contribution FDI 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”, commented IDA Ireland’s chief executive Barry O’Leary.

“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,” said Tom Parlon, director general of the Construction Industry Federation.

”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. 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,” he added.

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