117 jobs announced for Clare

A top US global financial security firm is to create up to 117 new jobs in Clare over the next three years.

Genworth Financial will create the jobs in the Shannon Free Zone with the support of the Government through Shannon Development.

The firm established operations in the Shannon Free Zone in 1997 and now employs 345 full-time workers.

The planned new jobs will bring the workforce to 462, with growth expected in the operations teams.

The new jobs will be in the operations division of the lifestyle protection business which helps clients to meet repayment obligations on loans, mortgages and other credit products should they be unable to pay due to accident, illness, involuntary unemployment, disability or death.

Genworth Financial is a wholly owned subsidiary of Genworth Financial Inc, a Fortune 500 company based in Virginia, US, with operations in over 25 countries.

Announcing the jobs today, Enterprise Minister Batt O'Keeffe said: "Genworth Financial's intention to increase its workforce in the Shannon Free Zone is a clear indication of the firm's long-term commitment to the area and a signal that our regions continue to win investments from global players.

"The Shannon Free Zone hosts over 100 firms generating €3.5bn in annual sales - 90% of which are to export markets.

"The business park, with its links to Shannon Airport and multi-sectoral employment base, is a strong revenue generator for the local economy and the Shannon Development team worked hard to secure Genworth Financial's investment against strong competition."

Minister O'Keeffe launched Shannon Development's 2009 annual report this morning which shows that, though last year was challenging for all sectors of the economy, the agency continued to yield economic dividends for the Shannon region.

Highlights last year included €15.5m in investment support packages for Shannon Free Zone firms which leveraged €57m in investments.

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