Bernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

21. To ask the Minister for Jobs, Enterprise and Innovation the extent to which the economic climate here remains conducive to job retention and job creation, with particular reference to the use of innovation and technology; if he is satisfied with the extent to which this jurisdiction remains an attractive and competitive location for investment resulting in job creation; and if he will make a statement on the matter. [48136/14]

Richard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The importance of innovation and technology to Ireland’s on-going and future economic recovery is well recognised by the Government as being crucial to growth in both our indigenous and FDI sectors. Evidence, from both the EU and internationally, shows that the Government’s strategy of accelerating the economic and societal return on our STI investment is paying off. Globally, we are ranked:

- 11th in the Global Innovation Index 2014, out of 142 countries.

- 1st in the world for inward investment and quality, as per the IBM Global Location Trends Report of 2013.

- 1st in Europe and 2^ndin the world for the number of investment jobs per capita, as per the same report.

- 3rd in the EU ‘Indicator of Innovation Output’, and

- 9th in the European Commission’s 2014 Innovation Union Scoreboard.

Similarly, Ireland’s international competitiveness continues to improve. Since 2011, Ireland’s international competitiveness rankings in both the IMD and WEF competitiveness reports has improved – from 24^thto 15^thin the IMD’s World Competitiveness Yearbook and from 29^thto 25^thWEF Global Competitiveness Report.

All of these factors reflect Ireland’s enduring strength as an investment location. Foreign direct investment has been buoyant so far this year, with IDA Ireland securing over 100 investments in the first half of 2014, up from 70 in the same period in 2013, with potential job creation of 8,000. Approximately 40% of these investments came from companies investing in Ireland for the first time, as Ireland’s value proposition continues to resonate with new investors. The Government has recently published a Policy Statement on FDI designed to ensure that Ireland’s inward investment offering continues to be attractive and competitive.

On the indigenous side, Enterprise Ireland had a record year for job creation, with 5,442 net new jobs, and exports in 2013 and the outlook is for continued strong export growth for 2014. Furthermore, in 2013 Science Foundation Ireland had links to 65% (2,018 jobs) of the 3,085 jobs announced by the IDA in all fields covered by SFI’s legal remit. International companies supported by IDA Ireland added a net 7,071 jobs in 2013 overall, the highest level of job creation in over a decade. Indeed, every job created in one of IDA’s client company’s results in the creation of 0.7 of a “spin-off” job in the Irish economy. Indications are that 2014 will be another excellent year for net job creation by IDA and Enterprise Ireland, with significant reliance on innovation.

The recently published National Policy Statement on Entrepreneurship in Ireland has as its aim to support the creation of an additional 93,000 jobs from start-up companies in the next five years. In addition, the Action Plan for Jobs 2015, which is currently under development, provides further opportunity to design actions to enhance Ireland’s competitiveness, which will provide the underpinning from a continued strong investment performance.

Elsewhere, ‘Knowledge Transfer Ireland’, our central Technology Transfer Office, has recently been set up as a central reference point for entrepreneurs and industry, signposting them to the wealth of technology opportunities and academic talent that exist in our Research Performing Organisations.

In terms of European Union funding for research and innovation, with a budget of almost €80 billion covering the next seven years, Horizon 2020 offers huge opportunities to researchers, research organisations and industry to engage in cutting edge research. These programmes provide international linkages and enhance the excellence of the Irish R&D system and we have set an ambitious target of drawing down up to €1.25bn in funding from Horizon 2020 over the period 2014-20.