European firms support 280,000 Irish jobs and inject €16 billion in annual wages, says new Ibec report
European firms support 280,000 Irish jobs and inject €16 billion in annual wages, says new Ibec report
- Ibec publishes report to highlight the economic importance of European businesses to Ireland as part of the EU Presidency
- €4.5 billion injected annually by European firms into infrastructural upgrades.
- Approximately 258,000 European workers are employed in Ireland
Ibec, the group representing Irish business, has today launched a new report highlighting the extensive Irish footprint of enterprises from across the European continent. Launched to celebrate the role of European business as part of the EU Presidency, the report- titled Shared Prosperity: The European Engine Driving Ireland's Economic Edge- reveals that European firms operating in Ireland now directly employ 280,000 people (representing approximately 10% of the nation’s total workforce) and contribute €16 billion annually in wages to the Irish economy.
The report will officially be launched today at the Irish Film Institute (IFI) in Temple Bar, featuring a keynote address by the Minister of State for European Affairs and Defence, Thomas Byrne TD.
Fergal O’Brien, Executive Director of Policy, Lobbying and Global Affairs at Ibec said:
"Without a shadow of a doubt, the continent of Europe is one of the most important trading partners and allies for Ireland. As this report shows, the scale, employment, and financial contribution of European businesses are vitally important to the Irish economy.
“We look to obvious examples such as the Single Market and how foundational that engine has been for Ireland’s modern economy. But across every region of Ireland, European enterprises from across the continent are actively driving green transformation, delivering essential infrastructure, conducting high-value research, and supporting local supply chains. By generating €16 billion in annual wages, these businesses play a pivotal role in strengthening Ireland's economic edge and supporting local communities.
“Beyond the scale of employment of Irish workers, over 250,000 European workers have chosen Ireland as their home to build successful careers in Ireland’s rapidly growing labour market, making us one of the most open countries in Europe for talent. This is essential to the future prosperity of our economy and in ensuring we continue to source needed talent in sectors like construction, IT, and hospitality- all of which rely heavily on overseas workers. To support this, the EU must remain open and ensure economic relationships are preserved and cultivated across the continent beyond its Member States including in the Industrial Accelerator Act. "
The report highlights major regional contributions from key European employers, including Novo Nordisk’s €432 million site investment, Ericsson’s 50-year R&D presence in Athlone, Danone’s manufacturing footprint in Wexford and Cork, and Schneider Electric’s regional hubs in Galway and Cork.
Minister of State for European Affairs and Defence, Thomas Byrne TD, said:
“Ireland’s economic strength is fundamentally tied to our European identity, and this report shows the clear, two-way benefit of our EU membership underpinned by the strength of our relationships across the broader continent. European partnerships do not just drive national statistics- they embed innovation, sustain 280,000 high-quality jobs, and support local supply chains across every region.
“As we lead the Council of the EU during our Presidency, strengthening a Single Market that works with our European partners remains at the very top of our agenda. It is essential to delivering resilience, sustainable jobs, and long-term growth for communities right across the country."
Note: For the purposes of this report, "European firms" refers to enterprises from EU Member States, the European Economic Area (EEA), and the wider European continent.
You can find the full report here.
