Enterprise Ireland companies hit record level of employment

Employment in Enterprise Ireland-supported companies hit a record level in 2023, with more than 225,000 jobs by the end of the year.

A total of 15,530 total new jobs were created in 2023, with 68 per cent of those based outside Dublin.

However, there was a number of job losses recorded throughout the year, with the tech sector particularly hard hit by the post-pandemic slump that saw thousands of jobs shed globally. The net figure for job creation at Enterprise Ireland companies was just over 5,000.

The agency’s results were announced at an event held by APC and VLE Therapeutics in Cherrywood in Dublin, where the company said it would create 300 high-quality jobs as part of a €100 million capital plan to establish the new medicine accelerator campus.

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Mark Barrett, chief executive and co-founder of pharma process specialists APC and VLE Therapeutics, said the expansion would enable its team to transform medicine development and manufacture.

“Reimagining how medicines are developed and accelerated to patients is our motivation, our purpose,” he said. “The support of Enterprise Ireland has been pivotal in accelerating this expansion and we look forward to continuing to work with them on our mission to accelerate medicines to patients.”

Enterprise Ireland chief executive Leo Clancy said employment in companies supported by the agency was at its highest level to date.

“Irish export-focused companies are continuing to create quality employment across Ireland, despite a challenging business environment,” he said.

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He said the number of jobs created last year was ahead of the agency’s target in the face of adverse conditions, including higher costs, interest rates, inflation and international instability.

Enterprise Ireland said there was particularly strong growth in the west, northeast and northwest. Among the main sectors, food and sustainability saw a rise of 3 per cent, while industrial and life sciences, and technology and services both showing a 2 per cent increase.

Mr Clancy said the agency would continue to focus on supporting Irish entrepreneurs to help them scale globally

“At Enterprise Ireland, we are determined to support both the start-up sector and established companies to increase sales and exports in global markets which results in increased employment. Business sentiment among our client companies remains very high and they are continuing to innovate to ensure they are competitive in global markets that remain turbulent,” he said. “Enterprise Ireland is here to support those companies on that journey.”

Minister for Enterprise, Trade and Employment Simon Coveney said it was positive to see the companies supported by EI recording jobs growth for the third year in a row.

“2023 was a particularly challenging year for exporting Irish businesses, with rising input costs, high interest rates and international instability among the challenging issues that impacted business performance,” he said. “Government is determined to help business face these challenges and continue to create high-quality employment across every region in Ireland.”

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