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Employment at Enterprise Ireland backed firms rose 5% last year

By January 11, 2023No Comments

The number of people employed at firms backed by Enterprise Ireland (EI) rose 5% last year to 218,178, despite the difficult trading environment.

It said 10,841 net new roles were created over the 12 months, down slightly on the record 11,911 jobs added a year previously.

In total, 19,660 positions were generated by companies supported by EI in 2022, but 8,819 jobs were lost in the same period.

The net growth came despite challenging global economic conditions for Irish export-focused companies, caused by the Ukraine war and the ongoing impact of the pandemic.

But climbing inflation, soaring energy costs, further supply chain disruption and a tight labour market failed to have major negative consequences for Irish businesses seeking to trade abroad, the results show.

The organisation said employment expanded in all three of its core economic sectors, with technology and services rising 8%, industrial and life sciences increasing 5% and food and sustainability growing by 3%.

“Supporting Irish-owned companies to achieve greater scale and expand their global footprint is a priority for Enterprise Ireland in 2023 and we are committed to supporting Irish companies on their journey to become global leaders in their field,” said Leo Clancy, Enterprise Ireland chief executive.

“This will ensure that Irish enterprise continues to create and sustain jobs, providing a platform for strong economic growth into the future.”

Just over two thirds of the total number of new jobs created last year were in areas located outside of the capital, with 147,000 now employed by EI client firms in regional areas.

Particularly strong growth was recorded in the sub-sectors of climate, sustainability and agritech, which saw a 13% jump.

Digital technology employment also rose by 9%, while high tech construction and housing, as well as fintech, financial and business services both expanded by 6%.

The results were welcomed by the new Minister for Enterprise, Trade and Employment, Simon Coveney, who said coming on the back of the record year of job creation in 2021, the results for last year show the potential to go from strength to strength.

“But we must not be complacent, and we need to continue to focus on the right things to further build the resilience of business and to keep innovation at the heart of that,” he said.

“The results announced today give us a really strong platform on which to further grow and expand our enterprise base and in a sustainable way.”

A total of 1,271 overseas contracts were secured by EI clients with its help, while 238 firms entered a new market with its assistance.

Article Source: Employment at Enterprise Ireland backed firms rose 5% last year – Will Goodbody – RTE

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