Strong Exports mean More Jobs – An Taoiseach

An Taoiseach, Enda Kenny TD, and the Minister for Jobs, Richard Bruton TD, are today outlining Fine Gael’s plans to grow the number of jobs in export orientated companies over the next five years as part of the Party’s Long Term Economic Plan to keep the recovery going. Fine Gael will allocate at least €500 million to accelerate export led job growth across the country from the €4bn Future Jobs Investment Fund.

Fine Gael’s ambition is that 80,000 of the 200,000 extra jobs we aim to create up to 2020 will come from Irish exporters and that this will ensure that each Region’s unemployment rate will be below 7% by 2020. Fine Gael’s exports plan will target growth from three key export streams: Exports from Irish owned companies, Exports from foreign owned companies based in Ireland, and by growing our tourist numbers and revenues.

An Taoiseach said:

“We want 40% of the 200,000 new jobs we are aiming to create over the next five years to be supported by export orientated companies. As a small open economy the only way we can hope to grow jobs and sustain them is by growing our exports. It’s that simple.

“To help ensure that those ambitious targets are achieved we will allocate €500m from our €4bn Future Jobs Fund towards developing the capacity of Irish exporters to grow their business, and jobs, in every county around the country. This is an integral part of our plan to make sure that every region feels the benefit of the recovery and that all regions have an unemployment rate below 7% by 2020.

“Building on the success of the Government’s Regional Action Plan for Jobs, which has funding of €250 million, our new Future Jobs Investment Fund will commit €500 million of extra funding in the years ahead. Our new Future Jobs Investment Fund will deliver:

1. An extra €300 million in capital funding to Enterprise Ireland to allow it to provide additional support to Irish owned enterprises focused on exports. This extra funding will give Local Enterprise Offices additional resources to help support startups and small businesses across the country;
2. An extra €200 million to the IDA which will allow it, among other things, to attract more multinational jobs by building additional advanced facilities in regional towns. This will follow on from the 11 advanced facilities which are currently being rolled out.

“From 2000-2007 – the so called Celtic Tiger period – just 1% of the new jobs created in the economy were in exports, while another 65% were in construction and the public sector. That explains why the jobs crisis hit so hard and so fast when it came in 2008. By contrast, of the 135,000 jobs created since the Action Plan for Jobs was launched over 45% of them are in exporting sectors.

“Under Fianna Fáil, the Irish economy steadily lost its competitiveness and our economy became increasingly dependent on buying and selling houses and apartments to each other. Fine Gael, on the other hand, has a Long Term Plan for the Economy built around enterprise, innovation and – crucially – exports.

“Working with companies like Grants Engineering in Birr, and other dynamic, innovative and export-focused Irish companies, we can build a sustainable recovery where jobs are created and maintained in every region.  Fine Gael has the plan and it is committing the resources to help our Irish enterprises to grow and create even more jobs in the years to come.”