Food start-ups record in 2014

The eight food start-up companies supported in 2014 by Enterprise Ireland set a new record for the food High Potential Start Up companies supported by the government organisation, which is responsible for development and growth of Irish enterprises in world markets.

The Food Works programme for start-ups attracted the highest number of applicants, at 125, since it started in 2012.

According to Enterprise Ireland, driving scale was a key focus for the food industry in 2014, and its clients had the highest number of significant project approvals (50) and job commitments (1,720) on record.

Capital investment in the industry (€620m in 2013-2014) was driven primarily by the dairy sector, in preparation for the anticipated 50% increase in milk output after the abolition of milk quotas in 2015.

This major investment in the dairy processors has been toward capacity and capability development, to cater for the increased volumes, and critically to move dairy exports up the product value chain.

“It is a major boost for rural communities, with the projected growth supporting new jobs in the processing sector, at farm level, but also in thousands of new downstream jobs in the wider agri-business economy,” said an Enterprise Ireland spokesperson.

The investments include:

Dairygold, €117m investment, 115 new jobs in Mallow and Mitchelstown in Cork.

North Cork Co-operative Creameries, new €5m processing plant.

Enterprise Ireland also supported a number of investments in 2014 as part of its responsibility for food foreign direct investment. They included:

Green Isle Foods - €30m investment - 115 jobs in Longford and Portumna, Galway.

Danone Nutricia Early Life Nutrition, Wexford, €26m investment, 50 new jobs bringing total employment to 400.

William Grant (Tullamore Dew), €38m, 106 jobs.

C&D Foods, €15m investment, 70 new jobs in Edgeworthstown.