Figures released by the IDA today show that employment in IDA-supported companies fell by 12.7% during 2001.
In what has been described as the toughest year in a long time for the IDA, 17,500 jobs were lost with only 13,500 new jobs created - creating a net loss of 4,000 jobs.
Launching the annual report, the Authority's Chief Executive Sean Dorgan said the downturn was caused by exceptional circumstances in the global economy.
In total there are some 1,237 IDA-supported companies in Ireland employing 138,000 people. They account for €47 billion worth of exports annually and spend €14.2 billion in the Irish economy. The IDA paid out €109 million in grants to companies during the year.
'International business confidence ebbed as 2001 progressed and the awful events of September 11 in the US added to the concerns,' Sean Dorgan said. The significant slowdown, especially in IT, saw the first loss in jobs in 15 years despite the positive performance in other sectors, he added.
He said that while the losses arose from global pressures and economic conditions, Ireland's competitive strengths remained fundamentally sound. But he warned of the need to remain competitive in all aspects of the economy, and in infrastructure and services, if the country is to continue to achieve good rates of growth.
The IDA's report says that a total of 40 investment projects, which included new greenfield projects and expansions, were agreed during last year.
* Chief executive Sean Dorgan says the forthcoming vote on the Nice Treaty will be the most important vote for inward investment in Ireland since the decision to join the EEC in 1972.
He said a no vote would leave us in danger of being presented as unwilling to accept the challenges posed by a larger EU. He said an enlarged union would attract additional investment and increase export opportunities for Irish companies.
