Google one of jobs projects in pipeline
By Gavin Daly and Samantha McCaughren
Internet giant Google is creating 200 jobs in Dublin, with a new investment in a shared services that will bring its workforce in Ireland about 1,800 people.
The Google plan, which involves the firm taking on a new building, is one of several major jobs projects in the pipeline. IDA Ireland is set to make three other jobs announcements – one in financial services and two in internet-related firms – in the next two weeks.
Barry O’Leary, chief executive of IDA Ireland, said that two of the imminent announcements were by firms that had never invested in Ireland before. They were ‘‘very decent’’ in size, he said.
The financial services project, with involves well in excess of 100 jobs and involves a major investment, will be announced by Taoiseach Brian Cowen this week.
O’Leary said that companies were being attracted to invest in Ireland again because the country’s competitiveness was improving, with cuts in wages and other costs.
The number of site visits by firms interested in investing was up by 50 per cent in the first quarter of the year, and is back to levels not seen since 2007, according to the IDA boss.
He said that Ireland’s international reputation was ‘‘under a lot of pressure’’ last year, but he was now more optimistic about multinational investment as overseas economies recovered. He said Ireland could benefit from growth in particular sectors, such as IT.
Projects that will create more than 500 jobs in financial services have also been agreed by the IDA, The Sunday Business Post understands. Informed sources said that an average of one project a week was being approved in the financial sector by the state agency.
Another major jobs announcement is expected in June or July, which will result in more than 100 new jobs in the valuable area.
Willie Slattery, the Irish managing director of State Street – the US funds company that employs 2,500 people in Ireland – said there were significant opportunities for Ireland’s financial services sector.
‘‘We have the best opportunity to grow the international financial services business that we have had for ten years or more,” said Slattery. ‘‘Our competitive position as regards cost is probably in the best place it has been for a very long time.
‘‘There is a plentiful supply of good quality labour at a cost which is materially down – I would say 20 to 30 per cent down, compared to what the same labour pool would have cost five years ago.”
Although drug firm Pfizer last week announced plans to restructure its Irish operations, affecting up to 785 jobs, mobile firm Telefonica announced 100 jobs and software company SAP said it would hire 75more staff, bringing its total workforce in Ireland above 1,000 people.
