Mr. Paddy Hopkins:

The cost per job is calculated by Forfás and the same formula is applied to IDA, Enterprise Ireland and the county enterprise boards. The calculation takes account of all costs associated with grant-giving, as well as income received from sale and disposal of investments over that seven-year rolling period. This compares with the number of jobs created and sustained until the year in question. The current year figure of €12,024 applies in respect of 2011. The low cost per job between 2004 and 2007 was due to substantial own-resource income in 2000 and 2001. That was a mitigating factor in reducing the cost per job during that period. Since then we have been earning income from the sale and disposal of investments but not to the same extent as during those years.

As part of our investment strategy we are examining the cost per job with each investment we make. That is an important factor when we decide how to support a company. We want to make the investment at the lowest cost per job possible but we must be mindful of the state of the individual company and how it is operating so that the support we offer meets its needs.