Written answers

Wednesday, 12 May 2010

Department of Enterprise, Trade and Innovation

Job Creation

9:00 pm

Photo of David StantonDavid Stanton (Cork East, Fine Gael)
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Question 53: To ask the Minister for Enterprise, Trade and Innovation further to Parliamentary Question No. 70 of 2 December 2009, the efforts he and bodies under the aegis of his Department, such as Enterprise Ireland and the South Cork County Enterprise Board, are making to support enterprise development and innovation, maximise entrepreneurial development and promote enterprise culture in Youghal, County Cork, and the entire east Cork area; the amount of grant support made available to local businesses and entrepreneurs in 2008, 2009 and to date in 2010 in the Youghal area; and if he will make a statement on the matter. [19307/10]

Photo of Batt O'KeeffeBatt O'Keeffe (Cork North West, Fianna Fail)
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The Government is working hard to sustain and create jobs all over the country by creating a business environment that is supportive of enterprise. The enterprise development agencies play a key role in stimulating the development of new businesses, facilitating the expansion of existing companies, and targeting new foreign direct investment through a broad range of initiatives. Since 2008, Enterprise Ireland has approved €50m approx. to client companies in Cork City and County. Enterprise Ireland has a client base of over 700 companies in County Cork employing circa 18,000 people. EI provides a range of supports that includes the Enterprise Stabilisation Fund, seed and venture capital funds, research and development funds, greentech support and the lean business initiative.

The CEB in South Cork provides support to small businesses in the start-up and expansion phases, to promote and develop indigenous micro-enterprise potential and to stimulate economic activity and entrepreneurship at local level throughout the area. Between 1993 and 2009, the CEB has provided over €6.1m in grant assistance to 451 clients. Their grant intervention has assisted in the creation of 916 jobs in the area. In addition 3,016 people have participated in South Cork CEB training programmes.

CEB assistance in the Youghal area has included support of an enterprise centre, direct grant support to eligible micro-enterprises, the promotion of enterprise related activities and of an enterprise culture in Youghal through networking and business development activities. Grant assistance to eligible micro-enterprises was approved to the value of €352,000 approx in 2008 and €486,000 in 2009. Projects in the Youghal area were approved grants to the value of €57,500 in 2008 and €30,000 in 2009. In addition, it's estimated that 3,676 people are employed in IDA client companies in the East Cork area.

The effectiveness of the agencies in job creation must also take into account the indirect effects of their activities. It is generally estimated that the jobs directly created result in approximately the same number of jobs being generated in the local economy. However, we cannot be complacent and I can assure the Deputy that I am examining the potential for State agencies to take a more collaborative approach to sectoral and enterprise development and in particular to implement the findings of the Forfas Regional Competitiveness Report for the South West.

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