Dublin's IFSC plans to create 10,000 new jobs

Dublin's International Financial Service Centre has set out a new plan aimed at creating 10,000 new jobs over the next five years.

The strategy was developed by the IFSC Clearing House Group, chaired by Dermot McCarthy, secretary general to the Department of the Taoiseach.

Launching the plan, Taoiseach Enda Kenny said the IFSC had shown extraordinary resilience throughout the financial crisis. It currently employs almost 33,000 people.

The IFSC group has been given the task of implementing the plan. Its report says growth will come from a 'transparent and competitive' tax framework, as well as 'credible, responsible and proportionate' regulation. It also outlines plans for developing new business areas, marketing the centre internationally and targeting the development of skills.

The Federation of International Banks in Ireland welcomed the strategy.

'From our network of established contacts with global banking groups, we are aware of a number of significant international players that are considering locating and expanding operations in Ireland,' said Paul O'Connor, director of FIB.

'We look forward to seeing these projects come to fruition over the timeframe for the strategy, enabling the banking sector to play its full part in helping deliver on the Government's strategy.'

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