Social media giant Facebook says it is planning to double its Irish workforce and employ 1,000 people at its headquarters in Dublin.

The social network has been based in the capital since 2009 and currently employs 400 staff in Ireland.

The firm is to take a new 120,000 square foot office space in Grand Canal Square in Dublin's Silicon Docks.

The building will have a capacity for 1,000 employees, which Facebook says will give room for its Irish team "to grow to twice its current size".

It says will allow Facebook to further expand operations that include user operations, database engineering, server support, public policy, safety, marketing and advertising sales.

Newstalk's Business Editor Ian Guider spoke to Breakfast earlier.

Sonia Flynn, Director of Site for Facebook Ireland, posted the news on her page.

Minister for Jobs Richard Bruton TD and IDA Ireland have welcomed the announcement. He said "This is a very welcome announcement and further confirmation of Ireland's status as the internet capital of Europe. Great credit is owed to the IDA who worked tirelessly on this project".

"I know from our frequent meetings with Facebook on investment missions how significant this project is for the company, and how important Ireland is as its international base. I wish them every success in their new home" he added.

Barry O'Leary, CEO of IDA Ireland commented "Facebook is one of the highest profile companies in Ireland today...This new office space will solidify Ireland as the international headquarters of Facebook and allow the company to further expand its operations here from its current base of server support, policy, safety and database engineering".

Dublin has already attracted a number of the world’s leading internet companies - including Twitter, Google, Linkedin, Yahoo and Amazon.

The National Asset Management Agency (NAMA) advanced funding to complete the building.