Satisfactory year says Enterprise Ireland chief

ENTERPRISE Ireland-backed companies created 11,898 new jobs last year, and lost fewer jobs overall.

EI-backed companies suffered a net decline in employment of 1,317 last year compared with a higher figure of 3,200 in 2003.

During the year exports by indigenous firms were also substantially ahead.

They rose 5.6% to €10.67 billion compared with a gain of just 0.8% the previous year.

Frank Ryan, chief executive of Enterprise Ireland, described the result as satisfactory given difficult international trading conditions. During the year EI invested €75m in supporting new and existing businesses of which €50m went into research and development.

Highlights of 2004 were:

* Export sales up 5.6% to €10.167 billion.

* 107 first-time exporters emerged during the year.

* €150m spent by companies on R&D.

* Enterprise Ireland supported 163 significant investment projects of which 51 located in the Border, Midland and Western regions.

* Total Enterprise Ireland financial commitments to companies in 2004 were €75 million.

* €154 companies established new markets overseas.

* 65 start-up companies emerged.

* Average productivity growth across all sectors was 7.4%.

In the case of exports Northern Europe was the best market accounting for €6 billion in sales, a net growth of 7.2%.

Britain which is part of the Northern European territory, continued to be the strongest export market taking €4.63 billion of our indigenously produced exports.

Exports to the Americas increased slightly to €1.1 billion.

Food and consumer retail sales accounted for the major portion of exports totalling €6.78 billion over the period. Within that category the dairy and drinks sub-sector contributed most with sales of €3.56 billion.

Software, services and emerging sectors increased overseas sales by 10.4% to €1.2 billion.

Industrial markets grew 3.8% to €1.9 billion with the construction and timber sub-sector performing particularly well, accounting for €713 million in sales and growth of 11.1%.

Enterprise Ireland supported 177 companies entering new markets, 107 of which were first time exporters, it said.

In addition, 154 client companies established an overseas market presence during the year.

A total of 9,528 client/buyer meetings took place across all sectors and markets.

Clients also participated in 77 trade fairs and trade missions.