Almost 11,000 jobs were created by multinational firms investing in Ireland over the past 12 months.
In its end of year statement, IDA Ireland said the number of new jobs created through foreign direct investment more than doubled in 2010.
It says the 126 investments and nearly 11,000 new jobs mean 2010 proved the strongest period for foreign direct investment in four years.
However, companies supported by IDA Ireland also cut more than 9,500 jobs during the past 12 months.
The projections for 2011 look more encouraging with predictions for strong inward investment and a much lower number of job losses.
Of the 126 companies investing in Ireland over the past year, 47 were doing so for the first time. That is up 20% on the 2009 figure.
Many existing IDA clients, including household names such as HP, Google and Facebook, are also in the process of expanding operations and recruiting new staff in Ireland.
IDA Chief Executive Barry O'Leary said: 'Ireland continued in 2010 to win significant foreign direct investment.
'Most encouraging is the substantial increase in the scale of these investments from many of the world's leading companies.'
Minister for Enterprise, Trade and Innovation Batt O'Keeffe has also welcomed the results.
He said: 'Despite the period of global recession over the past two years, our value proposition to multinational firms either operating here or choosing to hub in Ireland for the first time remains one of the strongest in the world.'
