The 10 Biggest Foreign Direct Investment Companies in Ireland – Business Plus

More than one in every 10 people employed in Ireland or 275,385 work for a foreign direct investment company, including some of the world’s larges and most renowned firms.

Household names in technology, finance and pharmaceuticals helped to drive corporation tax receipts to €15.3bn in 2021, up from €11.8m in 2020, and the presence of FDI companies in Ireland only continues to grow.

A net of 29,058 jobs were added at FDI firms last year, with employment increasing in every region of the country and thousands more jobs with multinationals announced this year to date, including 1,600 at Intel. Here are the 10 biggest FDI companies in Ireland in terms of 2021 revenue:

Alphabet

Alphabet, then Google, first established operations in Ireland in 2003 and how has its EMEA headquarters in Dublin. The company employs around more than 9,000 people here.

The search giant secured planning permission in February for a new campus at Grand Canal Street Lower in Dublin with space for 1,700 workers, and Alphabet CEO Sundar Pichai has said the company would continue to invest in Ireland despite changes to tax rules internationally.

Alphabet made a profit of $76bn from revenues of $257.6m in 2021, and the most recent accounts for Google Ireland show the unit made a profit of €2.2bn in 2020 despite a tax change of €622.3m, including a settlement of €345m to resolve a number of outstanding tax matters.

Amazon

The world’s most popular online shopping site and web hosting company brought in sales of $470bn last year and net income of $33.4bn.

The company’s main Irish arm, Amazon Data Services Ireland Ltd, which operates data centres, employs around 1,400 people here and reported pre-tax profits of €67.2m on revenues of $3.7bn.

Amazon Ireland Support Services, which handles customer services and logistics, employs a further 1,800 people in Ireland, and made a loss before tax of €7.6m from turnover of €223.3m in 2021.

Apple

Apple has famously had a presence in Cork since 1981 and infamously attracted the ire of the European Commission, which ruled that the iPhone maker had paid as little as 0.005% corporate tax, although the €13.1bn fine it issued was later overturned by an EU court. The Commission soon appealed.

The Cupertino company reported net sales of €365.8bn and net income of €96.7bn in 2021, and one of its Irish subsidiaries, Apple Operations Europe Ltd, which manufactures Apple products, accounted for revenues of $211.1bn and net income $56.2bn last year.

Bank of America

Bank of America reported revenues of $89.1bn and net income of $32bn last year, and Bank of America Europe, which has been based in Dublin post-Brexit, made a profit of $611m from operating income of nearly $2bn in 2021. The subsidiary employs around 2,350 staff between support, operations, technology, trading sales and advisory.

Huawei

Huawei drove a wedge between Samsung and Apple to become the world’s second-largest smartphone maker in terms of sales before it was blacklisted by the White House and prevented from using the Android in its devices.

The Chinese company still reported revenues of $99.9bn and net profit of $17.8bn in 2021, and has had operations in Ireland since 2004, with around 155 staff here. Accounts show Huawei Technologies (Ireland) reported turnover of €147.5m and profit of €5.4m in 2020.

Foreign Direct Investment Ireland

Foreign Direct Investment Ireland

More than one in 10 people working in Ireland are employed by FDI companies. (Pic: Getty Images)

Intel

The chip manufacturer has been a major presence in Leixlip, Co Kildare for more than 30 years, and in that time it has invested over €30bn to turn the former stud farm into an advanced technological campus.

Intel recorded revenues of $79bn and operating income of $19.5bn 2021, while subsidiary Intel Research and Development Ireland Ltd made a profit of $30.9m, with turnover of $157m in 2020.

The company has announced plans to invest a further $7bn in its manufacturing facilities in Kildare and currently employs around 5,000 people in Ireland.

Johnson & Johnson

The pharmaceutical company and household products maker made full year sales of $93.8bn and net earnings of $20.9bn, up 41.9% as the company benefitted from the rollout of its vaccine, with a further $3-3.5bn in sales expected from the jab in 2022.

J&J‘s Irish business, which covers sales of consumer products and medical devices, made profit of close to €5m in 2020 before losses of €10m on a defined benefit scheme were taken into account from revenues of €90.6m. The Tallaght-based firm employs 97 between sales, distribution and administration.

JP Morgan

The final US investment bank on the list, JP Morgan brought in revenues of $121.7bn and net income of more than $48.3bn, and its Irish unit, JP Morgan Hedge Fund Services Ltd, made a $4.9m profit from turnover of $42.5m in 2020

The financial services giant recently completed the acquisition of Cork-based fintech Global Shares for a reported €665m. JP Morgan acquired a 130,000 sq ft building in the Dublin docklands with capacity for 1,000 staff in 2017.

Meta Platforms

Facebook, WhatsApp and Instagram parent Meta Platforms employs some 6,000 people in Ireland between its international headquarters in Dublin, data centre in Co Meath and Reality Lab in Cork, and plans to create thousands more jobs to assist with its Metaverse push.

The social media titan experienced its first-ever drop in revenue earlier this year, but reported net income of $39.4bn and revenues of $117.9bn in 2021. Meta Platforms Technologies Ireland reported turnover of $337.2m and profit of $5.8bn in 2020.

Microsoft (and LinkedIn)

PC maker Microsoft employs 2,700 people between its Leopardstown campus and its data centre, while subsidiary LinkedIn, the professional social networking site it purchased for $26.2bn in 2016, has a further 1,800 at its EMEA base in Dublin.

Microsoft reported $168bn in revenue last year with operating income of $70bn in 2021. Its Irish units, Microsoft Ireland Operations Ltd, was responsible for revenue of $56.2bn and profit of $2.7bn last year, while LinkedIn made a profit of $103.5m from turnover of $3.2bn in 2020.

Photo: Google Ireland’s headquarters in Grand Canal Dock. (Pic: Artur Widak/NurPhoto)

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The 10 Biggest Foreign Direct Investment Companies in Ireland – Business Plus

More than one in every 10 people employed in Ireland or 275,385 work for a foreign direct investment company, including some of the world’s larges and most renowned firms.

Household names in technology, finance and pharmaceuticals helped to drive corporation tax receipts to €15.3bn in 2021, up from €11.8m in 2020, and the presence of FDI companies in Ireland only continues to grow.

A net of 29,058 jobs were added at FDI firms last year, with employment increasing in every region of the country and thousands more jobs with multinationals announced this year to date, including 1,600 at Intel. Here are the 10 biggest FDI companies in Ireland in terms of 2021 revenue:

Alphabet

Alphabet, then Google, first established operations in Ireland in 2003 and how has its EMEA headquarters in Dublin. The company employs around more than 9,000 people here.

The search giant secured planning permission in February for a new campus at Grand Canal Street Lower in Dublin with space for 1,700 workers, and Alphabet CEO Sundar Pichai has said the company would continue to invest in Ireland despite changes to tax rules internationally.

Alphabet made a profit of $76bn from revenues of $257.6m in 2021, and the most recent accounts for Google Ireland show the unit made a profit of €2.2bn in 2020 despite a tax change of €622.3m, including a settlement of €345m to resolve a number of outstanding tax matters.

Amazon

The world’s most popular online shopping site and web hosting company brought in sales of $470bn last year and net income of $33.4bn.

The company’s main Irish arm, Amazon Data Services Ireland Ltd, which operates data centres, employs around 1,400 people here and reported pre-tax profits of €67.2m on revenues of $3.7bn.

Amazon Ireland Support Services, which handles customer services and logistics, employs a further 1,800 people in Ireland, and made a loss before tax of €7.6m from turnover of €223.3m in 2021.

Apple

Apple has famously had a presence in Cork since 1981 and infamously attracted the ire of the European Commission, which ruled that the iPhone maker had paid as little as 0.005% corporate tax, although the €13.1bn fine it issued was later overturned by an EU court. The Commission soon appealed.

The Cupertino company reported net sales of €365.8bn and net income of €96.7bn in 2021, and one of its Irish subsidiaries, Apple Operations Europe Ltd, which manufactures Apple products, accounted for revenues of $211.1bn and net income $56.2bn last year.

Bank of America

Bank of America reported revenues of $89.1bn and net income of $32bn last year, and Bank of America Europe, which has been based in Dublin post-Brexit, made a profit of $611m from operating income of nearly $2bn in 2021. The subsidiary employs around 2,350 staff between support, operations, technology, trading sales and advisory.

Huawei

Huawei drove a wedge between Samsung and Apple to become the world’s second-largest smartphone maker in terms of sales before it was blacklisted by the White House and prevented from using the Android in its devices.

The Chinese company still reported revenues of $99.9bn and net profit of $17.8bn in 2021, and has had operations in Ireland since 2004, with around 155 staff here. Accounts show Huawei Technologies (Ireland) reported turnover of €147.5m and profit of €5.4m in 2020.

Foreign Direct Investment Ireland

Foreign Direct Investment Ireland

More than one in 10 people working in Ireland are employed by FDI companies. (Pic: Getty Images)

Intel

The chip manufacturer has been a major presence in Leixlip, Co Kildare for more than 30 years, and in that time it has invested over €30bn to turn the former stud farm into an advanced technological campus.

Intel recorded revenues of $79bn and operating income of $19.5bn 2021, while subsidiary Intel Research and Development Ireland Ltd made a profit of $30.9m, with turnover of $157m in 2020.

The company has announced plans to invest a further $7bn in its manufacturing facilities in Kildare and currently employs around 5,000 people in Ireland.

Johnson & Johnson

The pharmaceutical company and household products maker made full year sales of $93.8bn and net earnings of $20.9bn, up 41.9% as the company benefitted from the rollout of its vaccine, with a further $3-3.5bn in sales expected from the jab in 2022.

J&J‘s Irish business, which covers sales of consumer products and medical devices, made profit of close to €5m in 2020 before losses of €10m on a defined benefit scheme were taken into account from revenues of €90.6m. The Tallaght-based firm employs 97 between sales, distribution and administration.

JP Morgan

The final US investment bank on the list, JP Morgan brought in revenues of $121.7bn and net income of more than $48.3bn, and its Irish unit, JP Morgan Hedge Fund Services Ltd, made a $4.9m profit from turnover of $42.5m in 2020

The financial services giant recently completed the acquisition of Cork-based fintech Global Shares for a reported €665m. JP Morgan acquired a 130,000 sq ft building in the Dublin docklands with capacity for 1,000 staff in 2017.

Meta Platforms

Facebook, WhatsApp and Instagram parent Meta Platforms employs some 6,000 people in Ireland between its international headquarters in Dublin, data centre in Co Meath and Reality Lab in Cork, and plans to create thousands more jobs to assist with its Metaverse push.

The social media titan experienced its first-ever drop in revenue earlier this year, but reported net income of $39.4bn and revenues of $117.9bn in 2021. Meta Platforms Technologies Ireland reported turnover of $337.2m and profit of $5.8bn in 2020.

Microsoft (and LinkedIn)

PC maker Microsoft employs 2,700 people between its Leopardstown campus and its data centre, while subsidiary LinkedIn, the professional social networking site it purchased for $26.2bn in 2016, has a further 1,800 at its EMEA base in Dublin.

Microsoft reported $168bn in revenue last year with operating income of $70bn in 2021. Its Irish units, Microsoft Ireland Operations Ltd, was responsible for revenue of $56.2bn and profit of $2.7bn last year, while LinkedIn made a profit of $103.5m from turnover of $3.2bn in 2020.

Photo: Google Ireland’s headquarters in Grand Canal Dock. (Pic: Artur Widak/NurPhoto)

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