Foreign companies setting up in Ireland with the support of the IDA hired slightly fewer staff last year than in 2015, despite a record number of new investments.
The total number of jobs created by IDA clients last year was 18,627, down from 18,983 in 2015 according to the State agency's annual report.
.@davidmurphyRTE on how the IDA views Brexit as an opportunity and is seeking to take advantage pic.twitter.com/LePsIbX3de
— RTÉ Business (@RTEbusiness) January 3, 2017
The level of job losses was, however, the lowest since 1997 - meaning the net number of new jobs created through foreign direct investment (FDI) rose slightly on 2015 levels.
IDA's CEO Martin Shanahan talks to IBM super computer "Watson" at press conference. pic.twitter.com/8tI13VdkJZ
— David Murphy (@davidmurphyRTE) January 3, 2017
Total employment at foreign-owned companies in Ireland is 199,877, which the the IDA says is the highest level on record.
There were 244 investments secured by the IDA last year, also a new record.
The Government agency is tasked with attracting FDI into Ireland.
"The contribution of the FDI sector has always been important to Ireland, but the 2016 results show that the contribution has never been greater," said IDA Chief Executive Martin Shanahan.
2016 marks second year of record growth. #FDI employment hits new level of almost 200,000 #InvestInIreland pic.twitter.com/jkhPBuzUJc
— IDA Ireland (@IDAIRELAND) January 3, 2017
The agency said it has received a significant volume of queries to its offices over the past year from companies concerned about the impact on their businesses of the UK's vote to leave the European Union.
In a statement alongside its annual results, the IDA said the queries indicated companies are seeking to mitigate risk and ensure that the have access to the European Single Market after Brexit.
"Feedback from investors would suggest that companies are currently undertaking detailed due diligence of a small number of location within Europe. Ireland is amongst those locations," it said.
