Employment in client companies of Enterprise Ireland increased to a total of 225,495 in 2023, the highest ever recorded.
A total of 15,530 jobs were created by Enterprise Ireland client businesses in 2023.
The net effect of this was 5,011 jobs in what was a very challenging year for Irish businesses.
“Irish export-focused companies are continuing to create quality employment across Ireland, despite a challenging business environment”
Eight out of nine regions recorded net jobs growth, with the West region (+5%), the North-East region (+5%) and the North-West region (+4%) performing particularly strongly. 68% of new jobs created in 2023 in companies supported by Enterprise Ireland were located outside the Dublin region.
Growth in digital, climate and life sciences
Each of Enterprise Ireland’s three main sectoral divisions recorded jobs growth with Food and Sustainability now employing 66,047 people (+3%), industrial and life sciences employing 93,652 (+2%) and technology and services employing 65,796 people (+2%).
Climate, sustainability and agritech performed strongly, with employment increasing by 7%, as did dairy, drinks and food FDI with a 5% increase in employment.
Life Sciences companies saw employment increase by 4% and employment in the hi-tech, housing and construction sector increased by 3%.
Digital technology and fintech sectors continued to grow at a moderate 2% despite technology industry headwinds, with international education and edtech reporting 5% employment growth.
Quality job creation
“Irish export-focused companies are continuing to create quality employment across Ireland, despite a challenging business environment,” said Enterprise Ireland CEO Leo Clancy.
“Employment in companies supported by Enterprise Ireland is now at its highest ever level at over 225,000 people. Despite very challenging economic conditions including higher costs, interest rates, inflation and international instability, Enterprise Ireland backed companies added 15,530 new jobs to the economy, ahead of our target for the year.
“Looking to the year ahead, we have a major focus on supporting the ambition of Irish entrepreneurs to help them scale globally. APC & VLE, announcing 300 new jobs today, is a great example of an ambitious, innovative Irish company growing customers, adding pharma R&D, digital and manufacturing jobs and creating an impact in global markets.
“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. Enterprise Ireland is here to support those companies on that journey.”
The results were welcomed by the Minister for Enterprise, Trade and Employment, Simon Coveney, TD.
“It is positive to see Enterprise Ireland supported companies recording jobs growth for the third year in a row,” Coveney said. “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.
“Government is determined to help business face these challenges and continue to create high-quality employment across every region in Ireland. In addition to direct financial support, we are working with our economic development agencies, including Enterprise Ireland, to ensure an increased focus on innovation, digitalisation and sustainability so that Irish companies can continue to compete and win in global markets.”
Scaling Irish multinationals
The 2023 results were revealed this morning (9 January 2024) at APC and VLE Therapeutics’ headquarters in Cherrywood in Dublin. Today the leading life sciences company announced a €100m expansion and the creation of 300 new jobs to establish ‘The Medicine Accelerator Campus’ in Cherrywood, Dublin.
“Reimagining how medicines are developed and accelerated to patients is our motivation, our purpose,” said Mark Barrett, CEO and co-founder of APC and VLE Therapeutics.
“Today’s announcement of an additional 300 new jobs, along with a €100 million capital plan to create a new 130,000 ft2 Medicine Accelerator Campus in Cherrywood, Dublin, demonstrates our confidence in our team to deliver on that purpose.
“This new expansion will enable our team to reimagine and transform medicine development and manufacture. I am so excited to see our organization pursue such a patient focused mission.
“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.”
Main image: Enterprise Ireland CEO Leo Clancy