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Brexit 'silver lining' to bring 2,500 jobs in Ireland over five years, says IDA

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A Brexit "silver lining" will deliver 2,500 new jobs for Ireland over the next three to five years, IDA boss Martin Shanahan has claimed.

Mr Shanahan said the IDA very much regrets Brexit, but has been working on trying to get what advantages it can out of it since the shock vote on June 23, 2016. Many of the new jobs will be in pharmaceuticals and financial services.

In a letter to Dublin Fine Gael MEP Brian Hayes, the IDA chief noted it had been working with many firms on the issue since soon after the referendum result 21 months ago.

But many firms which initially adopted a 'wait and see' approach have now begun preparing for a 'hard Brexit' and find Ireland is a useful answer to the problems of access to EU markets.

Mr Shanahan also strikes an optimistic note on the majority of firms the IDA has already encouraged to base an operation in Ireland. He said that the majority of these are not very engaged in the UK market and so do not expect to be hit by the Brexit fallout.

Some 30pc of firms with which the IDA deals have potential difficulties relating and are working to address these as well as possible.

Siurce:  Independent i.e

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