04 Jan 2018 | 11.48 am
Record Number Of Taxpayer Funded Jobs
Enterprise Ireland unveils 'Market Discovery' grants
04 Jan 2018 | 11.48 am
Companies funded by taxpayers through Enterprise Ireland added more than 19,000 jobs to their total numbers employed during 2017, according to the state agency.
Every region recorded job increases, with 64% of new jobs created outside Dublin. Now, 209,340 people are employed in companies supported by taxpayer funding channelled through EI.
Enterprise Ireland says it recorded strong jobs growth in client companies in construction (8% increase), engineering (8% increase), life sciences (8% increase), digital technology (6% increase), electronics (6% increase), food (4% increase) and ICT sectors (5% increase).
Data provided by the agency indicated that client firms created a total of 19,330 new jobs while there were 9,020 redundancies among client firms, for a net gain of 10,310.
The agency’s taxpayer funded budget for 2017 was €113,254,000, indicating a taxpayer subsidy of €10,300 for every net new job created by EI client companies through last year.
Chief executive Julie Sinnamon said: “The figures represent another year of strong performance by our client companies, who now employ over 209,000 people and are a barometer of the robust health of Irish businesses. Despite the challenge and uncertainty created by Brexit, Irish companies have continued to grow their global exports, supporting strong job creation across all of the regions of Ireland.”
She added that Irish businesses continue to build on the strength of their 2017 performance and implement plans to prepare for the impact of Brexit.
EI also launched a new Market Discovery Fund to support client companies in diversifying into new markets and promote new products to existing markets. The new fund, which is another Brexit response measure, will support companies to appoint in-market accelerators, set up an in-market office, attend and exhibit at trade shows, develop market research and marketing collateral. There are three levels of funding available: up to €35,000, up to €75,000 and up to €150,000.
Sinnamon added that the new fund and the recently introduced Agile Innovation Fund “are key supports which will be instrumental to helping even more companies grow and reach new export markets. The new fund further underpins our goal of increasing exports by €5 billion by 2020”.
Photo: Julie Sinnamon (right) with enteprise minister Heather Humphreys and EI chairman Terence O’Rourke. (Pic: RollingNews.ie)