'Healthy pipeline' of tech investment lined up, committee hears

• Published date: 23 November 2022

However, while there is a "healthy pipeline of investments" from multinationals for next year, there is "definitely a slowing pulse for the year ahead," IDA Ireland's head of technology Donal Travers told the Enterprise Committee

The inward investment agency appeared at the Oireachtas committee on Wednesday, along with representatives Technology Ireland, a division of employers' body Ibec, to discuss the challenges facing the global and domestic technology sectors against the backdrop of recent and severe job cuts at Meta, Twitter and Stripe among others.

"Notwithstanding the current challenges and uncertainty in the global environment, IDA client companies are generally optimistic on the prospects for their businesses." IDA Ireland interim chief executive Mary Buckley told the committee. "We have sight of a healthy pipeline for the first half of 2023 albeit slightly weaker than the first half of 2022."

Ms Buckley told TDs and senators in her opening statement that when redundancies occur in IDA client companies, the agency "will do all we can to match these employees to the extensive employment opportunities that still exist across the economy." She said this involves working with other agencies, including Enterprise Ireland and state training agency Solas, as well as the Department of Enterprise, Trade and Employment, to line up opportunities for the affected employees.

Asked by Sinn Féin enterprise and employment spokeswoman Louise O'Reilly whether Solas had already engaged with workers at the companies that have announced job cuts in recent weeks, Mr Travers said the consultation process was "ongoing, so in many of those cases, nobody has been laid off yet".

On the issue of housing, IDA Ireland representatives said that some client companies had flagged the lack of available accommodation in the State as a challenge to their ability to retain talent. However, Ms Buckley said multinationals accept that it is a global issue and that the housing crisis "hasn't...