Upward momentum continues as record €17.1bn in exports by Enterprise Ireland client companies in 2013

Irish exporting companies spent €20.28billion in the Irish economy in 2013 and achieved record levels of job-creation

20% increase in job commitments by Enterprise Ireland companies made in first half of 2014 – Minister Bruton

Number of Ministerial-led trade missions doubled in recent years and 2014 showing a further increase

10th July 2014
2013 saw the best performance in over a decade in export growth and net job creation by Enterprise Ireland client companies, as detailed in Enterprise Ireland’s Annual Report and Accounts for 2013, published today.

These companies achieved a record €17.1billion in export sales, representing an 8% increase on 2012 and created 18,033 new jobs in 2013. The Report confirms a net increase of 5,442 in the number of people employed which is the largest net increase in a decade and underscores the clear link between strong export growth in new and existing markets across the globe, and job creation here in Ireland.

These strong results confirm the major impact that Enterprise Ireland client companies have across the wider economy. As employment continues to rise, so too does company spend in the local economy, all helping to generate increased commercial and economic activity. Total direct employment in Enterprise Ireland client companies stood at 175,750 in 2013 (149,718 full time and 26,032 part time). By the end of 2013, companies supported by Enterprise Ireland were employing and sustaining well over 300,000 jobs (direct and indirect) in Ireland. Economic calculations indicate that for every 10 jobs created in an Irish exporting company, 13 additional jobs are created elsewhere in the economy in supply and service companies. Latest figures show that direct expenditure by Irish-owned firms, in terms of payroll and purchases of raw materials and services produced in Ireland, account for €20.28 billion expenditure in the Irish economy.

As part of the Action Plan for Jobs, over the past three years the number of Ministerial-led trade missions has been double the level prior to 2011.

Other findings of the report include:
· In 2013, close to 860 companies were involved in significant R&D projects of above €100,000 spend per annum, with almost 140 companies engaged in substantial R&D projects of over €1m spend, both results up on the 2012 figures
· The number of CEOs and Managers participating in Enterprise Ireland’s leadership and management development programmes increased to close to 1,100 in 2013
· Over 1,000 client companies taking part in 18 minister-led trade missions and a further 67 international events in major target markets in North America, Europe, Asia, the Middle East and Latin America
· Enterprise Ireland brought over 1,100 targeted international buyers to Ireland to meet client companies here to progress business alliances and new contracts
· Enterprise Ireland opened new offices in Istanbul, Turkey, and Austin, Texas, USA, growing its overseas network to 30 international offices
· A dedicated new Global Sourcing team was set up to work closely with IDA Ireland to help identify opportunities for client companies to win a greater share of the procurement spend by MNCs in Ireland
· In 2013 Enterprise Ireland invested in 104 new high-potential start-up (HPSU) companies, the highest number yet in a single year
· Over 40 projects led by women achieving investment through either HPSU funding or through the Competitive Start Fund, up from 16 in 2012
· Under the Government’s Action Plan for Jobs 2013 Enterprise Ireland was directly responsible for delivering 77 of a total of 333 actions across a wide number of activities

Launching the Report Julie Sinnamon, CEO Enterprise Ireland said: ‘The strong performance of our client companies and their capacity to continuously innovate, develop new products and services and win new export business against the toughest of international competition, represent a tremendous achievement. This success in the global marketplace has given rise to the highest net jobs creation recorded in the last decade.

‘These companies are contributing hugely to the performance of the Irish economy. Driving continuous innovation and export growth leading to job creation right across the country will continue to be the major focus for Enterprise Ireland over the coming years. As an agency, we are completely committed to this mission, and to working with our client companies to realise their ambitions’.

Welcoming the Report the Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, said: ‘At the heart of the Action Plan for Jobs is creating a powerful engine of Irish exporting businesses alongside the strong multinational sector we have built up. Enterprise Ireland is the agency with a mandate to deliver on this, and together we have put in place a range of measures to achieve it, including doubling the number of trade missions, increasing Enterprise Ireland staff in overseas markets and new tax incentives for exporting companies. Today’s report shows that the companies Enterprise Ireland supports continue to go from strength to strength. Results are up under virtually every heading, and most importantly exports have increased to a record €17.1billion and employment has increased by more than 5,442 to 175,750.

‘The indications from the first six months of 2014 are very positive, with job commitments by Irish exporting companies up more than 20% on the same period in 2013, indicating that the 2013 records are set to be exceeded. At a fragile point in the economic recovery, this is a hugely important confidence boost from the crucially important Irish exporting sector. I wish to commend Julie and her team both in Ireland and overseas on these achievements. We in Government will continue, through the Action Plan for Jobs, to make the changes necessary to provide the supports for more Irish exporting companies to start up, expand and create the jobs we need”.

Copies of the annual report are available at:
www.enterprise-ireland.com/annualreport2013