Fall in local Enterprise Ireland-supported jobs

Employment in Enterprise Ireland-supported companies in the Midlands region fell by 5.1% last year, the worst performance in any of the organisation's regions. At the end of the year, there were 7,515 positions in companies which had benefited from Enterprise Ireland support in the region, down 387 from the end of 2009. During 2010, companies in the Midlands created 457 posts, but lost 844 jobs. The North East and South West were close behind with employment in Enterprise Ireland companies in those regions down 4.9%. Nationally, employment levels fell by 3.9% The figures were contained in Enterprise Ireland's annual report for 2010, which also showed that Irish companies achieved €14bn export sales during the year. Within that, Irish companies achieved a record €1.95bn of new export sales. This represents a strong rebound and recovery of 70% of the exports lost in 2009. The Minister for Jobs, Enterprise and Innovation Richard Bruton welcomed the strong performance by exporters in 2010, but emphasised the need for high ambition, and to build tirelessly on this success in order to create jobs and growth. In 2010, Enterprise Ireland made seed capital investments in 80 new innovative start-up enterprises with the potential to create over 770 new jobs within the next three years. Some 1070 client companies were approved funding in 2010 with a total of 86 receiving commitments for financial support in excess of €100,000 for significant R&D projects. During the year, thirty one spin-out companies emerged from third-level colleges and 93 technologies were transferred to companies with Enterprise Ireland support. Minister Bruton said: "I have said repeatedly that government does not create jobs: businesses do, but the role of government is to create the environment in which businesses can grow and create those much-needed jobs. My ambitious plan to create this environment involves reducing business costs, improving access to finance and encouraging R&D and innovation. Crucially, we must not only support high-end multinationals but also the indigenous companies that will lead our recovery. Commenting on the Report, Hugh Cooney, Chairman of the Board of Enterprise Ireland said: "2011 will continue to challenge our clients but there is no question that they are better positioned than ever before to take on this challenge. Irish exporting companies have products and services that stand "shoulder to shoulder" with the best the world has to offer. "Our clients have continued to make the vital investments in research and development which enables them to continuously innovate on products and services that their customers want, this has served them well in the past and Enterprise Ireland will support these investments all the way."