IDA Ireland have recently set up a new unit designed to attract overseas manufacturers in the industrial and engineering sectors to this country.
Cost reductions in recent years means that Ireland is becoming increasingly attractive for manufacturers when compared to other European countries. For example the cost of renting industrial space has halved since 2007 to 5 per square foot and wage costs have moderated too in recent years - they are now below the Eurozone average. In addition, Ireland possesses many trained personnel with the required manufacturing skills and can quickly convert unemployed construction workers to be able to participate in manufacturing if needed.
Work is underway also with the existing manufacturing sector to help them transform their operations, become more efficient and attract new functions to their existing facilities located here.
Manufacturing employment now stands at over 212,000 in this country and is a significant contributor to the Irish economy - as well as local communities throughout the country.