Oireachtas Joint and Select Committees
Wednesday, 10 May 2017
Joint Oireachtas Committee on Arts, Heritage, Regional, Rural and Gaeltacht Affairs
Development and Co-operation in Border Counties: Discussion (Resumed)
2:10 pm
Mr. Thomas Hunter McGowan:
We have key performance indicators on four different levels. The primary indicators are on first-time innovators to whom we give preference and first-time exporters. On an annual basis, we have at least 100 in each of these two categories. The second major area we measure is the business value generated. We set a target in our business plan of achieving a ratio of 9:1 for business value generated. By this I mean that for every £1 we spend on supports in a company, the company in question will generate a further £9 in additional sales, efficiencies, economies or investment. Our actual outputs are much higher than that. Last year, we had a ratio return of 16.6:1 on moneys invested. We had more than 150 in each of the categories of first-time exporters and first time innovators. All the key performance indicators have been exceeded. The inference is the number of jobs created in companies as a direct result of interventions by InterTradeIreland. Last year, the figure stood at approximately 2,300.