DUBLIN – PayPal is to open a state of the art European Operations Centre in Dundalk with the creation of 1,000 new jobs.
Yesterday’s notification was the first substantial jobs announcement since the downturn. Global online payments firm PayPal,which is owned by eBay, currently employs 1,400 people in Ireland.
Recruitment will commence in July with an estimated 300 jobs to be filled by year end, it is expected that PayPal will employ 2,400 people by 2016, making it one of the largest internet employers in the country.
Louise Phelan, Vice-President of global operations for PayPal, said “This is a great day for PayPal Ireland and is truly a testament to the proven track record of our existing operation in Ireland. I am very proud to support Irish job creation and look forward to working with our new teammates in Dundalk. IDA Ireland has been a close partner of PayPal’s since we established our first location in 2003, and I look forward to continuing to work closely with IDA in the coming years.”
Ms Phelan continued by saying that the new employees will be joining PayPal at an exciting time. “Our vision is to help people pay for things anytime, anywhere and on any type of electronic device. We’re reimagining money to work better for consumers and businesses at a time when the line between the online world and the high street is breaking down. Our new teammates in Dundalk and Dublin will help us create the future of money.”
Commenting on the announcement, Irish Development Authority (IDA) CEO Barry O’Leary said: “Employment intensive investments are a key part of IDA’s Horizon 2020 strategy. This announcement by PayPal capitalizes on the growth of services globally … It is a clear endorsement of Ireland’s attractiveness to multinational investors and will have a significant impact in the wider North East region.”
American Chamber Chief Executive, Joanne Richardson said, “Ireland now has a strong track record as a world class location for born on the internet and we expect these positive investments to continue.”
“US companies have now created over 2,000 new jobs since the start of the year. The 600 US companies here continue to play a vital role in Ireland’s economy, employing 100,000 directly, and have a total investment in Ireland of $190 billion. In 2011 US companies accounted for three quarters of all new IDA jobs, in what was a record year for FDI in Ireland.”
PayPal’s European operation centre opened in Dublin in 2003. Since then the number of staff has increased from just 25 to more than 1,400 today.