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Ireland — Irish companies to create +60,000 new jobs by end 2015

09 July 2010

The Minister for Enterprise, Trade and Innovation, Batt O'Keeffe has welcomed Enterprise Ireland's* Annual Report and Accounts 2009 published yesterday, saying the report shows a robust performance by Irish companies during the global economic recession in 2009. Minister O'Keeffe also stated that Enterprise Ireland client companies will create 60,000 jobs by the end of 2015.

Enterprise Ireland's Annual Report and Accounts 2009 show that during 2009, a year of unprecedented challenge for Irish business, client companies continued to win new export sales, start new high potential enterprises, invest in high-value research and development projects and create jobs.

Total export sales by Enterprise Ireland client companies in 2009 were almost 13 billion Euro and included new export sales of 693 million Euro. This represents 90% of the levels achieved in 2008, which itself was a record year. Many companies maintained their existing export business while a number of sectors recorded growth in total export sales, including software, internationally traded services and life sciences.

In 2009, Enterprise Ireland made seed capital investments in 73 new high potential start-up companies which together will create over +900 new jobs and are expected to achieve total sales of over 600 million Euro within the next three years.

Enterprise Ireland's investment in over 800 start-up companies over a 20 year period (1989 - 2009) has yielded more than 1 billion Euro in Irish exports and in excess of 14,000 jobs.

7,443 new jobs were created in Enterprise Ireland-supported companies, bringing the total number employed to 133,523. While there was an overall net decline of 19,078 in 2009, the investment pipeline for 2010 indicates that new jobs created will exceed 2009 figures, as client companies continue to invest in competitiveness improvement measures and achieve export sales. Based on this performance, Enterprise Ireland expects that its client companies will generate 60,000 new jobs between now and the end of 2015.

Minister Batt O'Keeffe, said "as Ireland emerges from recession and business activity in our main trading partners recovers, these firms can build on the base they maintained over difficult times and focus on further growth. These firms already have a significant economic impact in every region of Ireland. We estimate that these firms, and other Enterprise Ireland-supported start-ups, can between them generate 60,000 jobs over the next five years.

"A key priority for Government is to continue to deliver on the Smart Economy Framework and implement the recommendations of the Innovation Task Force. We will support the continued growth of entrepreneurial-led firms that will underpin Ireland's global reputation as a centre for innovation providing high-value, sustainable jobs."
*Enterprise Ireland is the government organisation responsible for the development and internationalisation of Irish enterprises. Its prime purpose is to increase exports and export-led employment.



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