The average pay for the 745 strong workforce at chip maker Intel's Irish Research & Development (R&D) arm last year totalled $130,861 (€124,110).
New accounts show that the pay bill at Intel Research & Development Ireland Ltd was last year $97.35m - made up of $79.49m in wages and salaries and $17.86m in share-based payments.
The firm's main activity is R&D activity of new and emerging technologies across a range of Intel business units.
Numbers employed by the firm - formerly Intel Shannon Ltd - last year increased from 665 to 745 and the directors state that the increase in wages and salaries from $64m in 2021 to $79.6m last year was due to an increase in headcount.
At the end of December last, the firm had 691 employed in R&D and 54 in management, administration, sales and marketing.
However, a result of cost cutting measures across Intel Corporation in 2022, the R&D arm's re-organisation costs for 2022 totalled $21.58m in redundancy costs.
A note attached to the accounts states that during the year, Intel Corporation announced the implementation of cost-cutting measures, including a slower pace of hiring, designed to reduce operating expenditures and manage the business towards the long-term financial model.
Pre-tax profits at the company last year increased by 44% from $31.35m to $45.37m.
This followed revenues last year increasing by 29.5% from $166.15m to $215.18m.
The firm's activities include an R&D Campus at Shannon and underlining the scale of research at the unit, the firm last year received R&D tax credits from the State of $20.2m, following R&D tax credits of $18.3m in 2021.
The R&D tax credits appear as "other operating income" in the accounts.
The directors state that profit also increased as there was a decrease in other operating expenses from $56.2m to $48.83m in 2022.
The firm recorded an operating profit of $40.3m and finance income of $5.08m resulted in pre-tax profits of $45.37m.
It recorded post tax profits of $40.99m after incurring a corporation tax charge of $4.92m.
The company derives its revenue from services rendered and billed to Intel Corporation.
At the end of December last, the firm had shareholder funds of $332.94m made up of a capital contribution of $704m offset by accumulated losses of $371.1m.
Reporting by Gordon Deegan
