Increase In FDI Provides Boost For The Construction Sector

Fine Gael Meath West TD and Chair of the Oireachtas Jobs Committee, Damien English, has welcomed the latest figures from the IDA, which show that an increase in Foreign Direct Investment (FDI) over the last 12 months has provided a much needed boost to the construction sector.

Mr English said: "The figures released from the IDA today are very encouraging; they show that 70 individual projects have been secured by the Department of Jobs through the IDA so far this year. Half of these projects relate to companies coming to Ireland for the first time, which is a very positive trend. The investments will lead to the creation of 7,000 new jobs.


"The construction industry has been given a very welcome boost as a result of the increase in FDI companies coming here. Over the last 12 months, 5,000 building workers have been employed on the construction of new premises and facilities for IDA client companies. The construction sector was hit very severely in the economic crash. Some 60% of the job losses overseen by Fianna Fáil in Government were in the construction sector, which has had a very direct impact on emigration as people moved abroad to find work.

"FDI is playing a very important role in turning around our jobs market. More than 152,000 people are employed in foreign companies based here, and more than 12,700 new jobs were created in the sector last year. Furthermore, jobs losses in IDA client companies were the lowest in a decade."

(CD/JP)