Post Brexit jobs boost likely for region

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More jobs for midwest
More jobs likely for the Mid West as FDI company interest increases in region

LIMERICK and the Mid West region could see a jobs boost post Brexit as the IDA reports an increase in interest and discussions with its Foreign Direct Investment (FDI) client companies following the UK’s decision to leave the EU.

The organisation, which works with over 1,200 overseas companies, said it expected the UK referendum decision to leave the European Union to present potential FDI opportunities in the period ahead.

This Wednesday, IDA CEO Martin Shanahan said that in particular, the financial services sector, together with technology industries could see a boost as FDI company’s interest heightens.

The ability of the region to attract companies in these sectors is supported by the existing companies operating and employing several hundred staff as well as the access to quality third level graduates from the University of Limerick and Limerick Institute of Technology.

Within in the last 10 days, the IDA said that talks with its client base has increased.

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Shannon Chamber of Commerce president Julie Dickerson has already said that the space to attract new FDI companies is available throughout the region while Mid West business development manager with the IDA Niall O’Callaghan said that Limerick has a great deal to offer inward investing companies.

As the IDA released its half-year report this Wednesday, Mr Shanahan said that he believed “Ireland’s stability, the certainty on EU membership and therefore access to the European market, coupled with the strong value proposition that Ireland already offers would be important in the period ahead.

“This value proposition also includes access to talent (both Irish and European), a competitive, transparent and consistent taxation regime and the ease of doing business,” he added.

In its mid-year report, the State-agency said investments approved by the organisation between January and June will lead to the creation of 9,100 jobs over the coming months and years.

This performance is on a par with the first half of 2015, which was one of Ireland’s best years for FDI.

Ireland won 115 projects in the first six months of 2016, compared with 110 in the same period last year.