Oireachtas Joint and Select Committees

Thursday, 18 November 2021

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 32 - Enterprise, Trade and Employment
Chapter 6 - Covid-19 Restart Grant Schemes

9:30 am

Dr. Orlaigh Quinn:

Thankfully, the costs are falling. Creating a job through IDA Ireland, for example, costs approximately €5,900. I will come back to the Chair about the cost for creating a job through a LEO. The difference between them is the earnings capacity. The average IDA Ireland job has an earning capacity of approximately €78,000 and Enterprise Ireland has a capacity of €54,000. The earning capacity of a job created through Enterprise Ireland is 32% of the average and a job created through IDA Ireland is 90% above the average. The earning capacity of jobs created through LEOs tends to be lower, since start-ups are involved. From our perspective, they should be focused on and grown, because they are in every part of the country and have been successful. They created 5,500 jobs last year. That is a great credit to them during the pandemic.