termed â€oeinnovation Economics, †which stresses why decisions on taxes and spending should be driven by the need to promote economic growth.
Rather than concentrating on boosting aggregate demand or reducing the federal debt, policymakers should be guided by the need to reduce the debt-to-GDP level over the medium term,
in part by ensuring that budget policies support investments and tax expenditures that drive GDP growth and that boost overall work effort.
In addition to the fiscal deficit, America also faces deficits in investment and competitiveness that are equally important. 2 The best solution is to choose a mix of regulatory reforms, investment increases,
spending cuts and tax increases that promote investment and make America a more competitive place to do business.
Merely increasing federal spending to boost aggregate demand or treating all spending and taxes the same (e g.,
putting â€oeeverything on the tableâ€) can easily weaken the economy over the medium term, making it harder to reduce the debt-to-GDP ratio.
in part by ensuring that budget policies support investments and tax expenditures that drive GDP growth.
rather than on ways to increase economic growth. In addition, their proposals for spending and taxes seem to treat all outlays and revenues the same, regardless of their effect on growth.
Yet cutting public investment (including increasing certain business tax expenditures) in the name of fiscal discipline will slow growth
but it would also increase the investment deficit, reducing the rate of innovation and productivity growth.
Both effects would reduce economic growth, resulting in total budget savings significantly lower than what would be achieved by cutting true â€oenon-investment†spending.
Instead of focusing solely on the budget deficit, Congress and the Administration should take a more focused approach to reducing the budget deficit by adopting policies that boost economic growth,
DISTINGUISHING BETWEEN PRODUCTIVE INVESTMENT AND CONSUMPTIVE SPENDING BUDGET POLICIES To effectively address the budget while also growing the economy,
policymakers should do four things. The first two focus on increasing GDP growth rates, the second two on reducing the budget deficit. 1. Increase investments,
including business tax expenditures, which spur productivity, innovation and competitiveness (PIC) by boosting spending on public investment
and cutting taxes on business (including cutting statutory rates, expanding pro-growth incentives, and also rolling back ineffective tax breaks).
a. Creating a comprehensive tax credit for business investments in R&d, new equipment, and software and workforce training;
as opposed to investment. The focus should largely be on cutting entitlements to seniors, but also on areas of spending that lower productivity (e g.,
a. Instituting progressive indexing that indexes SSI benefits to wages for low-income workers and to inflation for high-income workers;
investment and trade deficits †and will also spur growth which will help reduce the debt-to-GDP ratio. 4 An increase of just 0. 1 percent in the GDP growth rate would reduce the budget deficit by as much as $300 billion cumulatively over the next decade. 5 Given the economy†s
they also need to distinguish between productive investment (expenditures that expand productive capacity, drive economic growth and increase future incomes)
and consumptive spending (expenditures that finance consumption of goods and services but do not lead to increased future productivity).
To distinguish between taxes and PAGE 4 THE INFORMATION TECHNOLOGY & INNOVATION FOUNDATION JANUARY 2014 spending that support investment versus consumption,
policymakers should consider four criteria: ï Productivity: Does the program or policy encourage organizations to produce more goods and services with fewer inputs?
6 ï Innovation: Does the program or policy encourage organizations to create new products, services, processes,
or business models that add value or create new industries? ï Competitiveness: Does the program or policy reduce the trade deficit by making it more attractive to locate productive activity in the United states rather than other countries, thereby increasing exports and/or reducing imports?
ï Work Hours: Does the program or policy increase the amount of work hours per-capita by encouraging those workers who are able to work to enter into
but by increasing investment and spurring more work effort, America can begin closing its three deficits
Tax Cuts and Investment Increases Tax increases and Spending cuts Corporate Tax Reductions Tax increases ï Establish an innovation
and investment tax credit ï Lower the corporate tax rate ï Increase taxes on individuals ï Introduce new taxes (e g.,
, carbon taxes) that do not significantly slow growth ï Broaden the tax base Increased Outlays Reduced Outlays ï Research and development ï Education ï Transportation infrastructure ï Federal IT investment ï
which, for many of the tax reductions and investment increases, we believe would be significant.
INCREASE INVESTMENTS, INCLUDING CUTTING BUSINESS TAXES A growth-oriented budget plan needs to encourage productivity-enhancing investments by the private and public sectors. This means reduced taxes on business, particularly on investments,
while also cutting the corporate rate will help move the United states away from a consumption-centered economy to an investment-centered one.
whether Congress should increase tax incentives for investment or reduce the corporate tax rate. Congress should do both.
Increase Tax Incentives for Investment Business investment in R&d new equipment and software and workforce training drive PIC.
However, in the last decade, the United states has fallen behind other nations in investment in these key building blocks. 8 As a result,
Congress should create a comprehensive tax credit for business investments in R&d, new equipment and software,
Such action would provide a tax credit of 45 percent of business investments on R&d and skills training,
However, once the effects of induced investment and higher economic growth were taken into account, ITIF estimated that the expanded credit would pay for itself after 15 years. 9 In other words,
whether Congress should increase tax incentives for investment or reduce the corporate tax rate. Congress should do both.
including for manufacturers. 10 The evidence shows that higher corporate rates reduce economic growth, including reduced international competitiveness. 11 As a result,
since their profits in more nations would be taxed at a higher rate than in the United states
or nothing to repatriate foreign profits. ITIF has estimated earlier that this change would cost the government $100 billion per year on a static basis. 13 However,
a lower rate would spur more investment, in part by increasing the after-tax returns from investments
and by reducing the incentive to move production offshore and encouraging more foreign companies to locate business activity here.
Policies that reward productive investment clearly increase the capital stock of the economy in turn producing higher incomes and more tax revenue.
Investment in R&d, Education, Infrastructure and Government Efficiency Federal public investment can be defined as those expenditures made today by government that produce income for the United states with a net present value greater than the cost of the expenditure.
Federal spending is truly investment only if it yields returns in excess of PAGE 7 THE INFORMATION TECHNOLOGY & INNOVATION FOUNDATION JANUARY 2014 expenditures.
America faces an investment deficit and increased public investment†along with incentives to spur private investment†is needed to remedy it. 15 In particular, Congress needs to increase public investment in four key areas:
science and technology, education and skills, surface transportation infrastructure and federal information technology (IT) investment. Although these policies would also increase the deficit,
they would have similar dynamic effects to those discussed above, which would partially or perhaps fully offset the cost.
Science and Technology The United states is in a global competition for innovative advantage. 16 Our international competitors have been strategically ramping up their public investments in research over the last two decades
while U s. investments have grown much more slowly. In terms of federal funding for nondefense R&d as a share of GDP
the United states ranked just twenty-eighth out of thirty-four nations studied by the OECD in 2010.17 And in terms of government investment in university research, of thirty-nine nations,
†Congress should also increase funding for research that is focused more on commercial innovation and U s. competitiveness. 22 Education and Skills In a more knowledge-based economy,
a well-educated and trained workforce contributes to economic growth and competitiveness. 23 As a result, in addition to expanding the R&d tax credit to include corporate expenditures on training,
There are several areas that should be targeted for investment, including science, technology, engineering and mathematics (STEM) education, manufacturing skills standards,
while the required investments amount to nearly $100 billion per year. 25 Congress should increase the gas tax by 35 cents per gallon
and then index it for inflation. This would raise approximately $45 billion per year which should be devoted to the Highway Trust fund. 26 At the same time,
Congress needs to increase public investment in four key areas: science and technology, education and skills, surface transportation infrastructure and federal information technology investment.
PAGE 8 THE INFORMATION TECHNOLOGY & INNOVATION FOUNDATION JANUARY 2014 Federal IT Investment A strategy to boost the productivity of the federal government should be a key part of any budget reduction strategy.
Mckinsey & Company finds that a 15 percent improvement in the efficiency of federal government operations could generate $1. 3 trillion in savings over the next ten years. 27 These sorts of efficiency gains have been routine
the federal government will be able to provide the same services at a lower cost. Congress should therefore increase spending on federal IT infrastructure.
The kinds of investments and tax cuts proposed above are critical to boosting productivity. But to address the budget deficit without even larger cuts in spending
since every person added to the economy also consumes resources. The latter, expanding work hours, is more effective
Moreover, with the move to an economy with many more jobs in the services sector, the availability of jobs that require limited physical exertion has grown.
from 84.8 percent in 1990 to 78.8 percent in 2011.40 Every worker who leaves the labor force can generate a double-drag on the economy,
Economists David Autor and Mark Dugan argue that the SSDI eligibility application process should focus on objective data with specific maladies for
One reason why wages have not increased for these jobs is that the federal minimum wage has declined in inflation-adjusted dollars from $10. 77 in 1968 to $7. 25 per hour today. 48 As a result,
and by the overall competitiveness of the U s. economy. 49 Once the economy is back to full employment,
bringing the economy back to full employment. In addition, a higher minimum wage would reduce outlays from the earned income tax credit.
But this view reflects what economists call the â€oelump of labor fallacy, †which refers to the notion that the amount of work available to workers is fixed.
female workers earned money that let them purchase goods and services, which generated further demand for What is certain is that the United states will be less prosperous
as noted above, increasing critical PIC-inducing investments and increasing incentives for expanded work hours.
Reduced outlays normally come at a cost of reduced government services, funding or transfer payments. There are numerous ways to cut spending,
but to the extent possible, cuts should not harm productivity, investment, or competitiveness and should also lead to increased work hours.
Congress should institute progressive indexing that indexes SSI benefits to wages for low-income workers and to inflation for high-income workers.
The industry also has the opportunity to take a tax deduction based on production levels, which can sometimes be greater than the total amount of federal taxes on the industry.
as commodity prices are enough to encourage future investment in the development of oil and gas.
it would not raise the taxes on exported products and services. Another revenue source could be a small financial transaction tax (also known as a â€oetobin†tax)
however, should be levied as an economy-wide carbon tax on upstream, combustible, fuel sources (e g.,
even though the proportion of national income going to those above the eightieth percentile has increased markedly. 69 Both in theory and practice,
and investment. 70 One reason for the lack of effect on the former is that as Moffit and Wilhem found,
there is not much evidence that they affect investment, which is what really matters. Currently, ordinary dividends are taxed at roughly 25 percent,
up from 15 percent before the ATRA passed. 73 Rather than leading to more investment,
there is some evidence that reduced taxes on dividends actually lead to lower levels of investment by companies as they pay out more earnings in dividend payments.
†and a cutback on larger investments that take longer to receive a payback. †74 Given the significant decrease in investment in structures, equipment and software by companies in the United states over the last two decades,
the much more persuasive argument is that investment managers are essentially getting paid a salary for their investment advice.
There is nothing inherently objectionable about using the tax code as a means of social or economic policy;
and competitiveness, it will need to move from a consumption economy to an investment one, and policies that reduce spending on housing will move us in that direction.
000 of the mortgage and not be indexed to inflation. 80 A second place to start is for Congress to eliminate employment related tax benefits,
and competitiveness, it will need to move from a consumption economy to an investment one, and policies that reduce spending on housing will move us in that direction.
As such any debt reduction plan should focus on expanding growth and reducing the debt-to-GDP ratio, both by increasing growth through increased investment and reduced corporate taxes,
â€oeinnovation Economics: How a New Theory Casts Light on an Old Problem of the Budget Deficit†(ITIF, October 2013), http://www2. itif. org/2013-innovation-economics-new-theory
-old-problem-budget. pdf. 2. Robert Atkinson et al. Taking on the Three Deficits: An Investment Guide to American Renewal (ITIF;
Breakthrough Institute, November 2011), http://www. itif. org/files/2011-taking-three-deficits. pdf. 3. For an example, see:
Cultivate Growth, †New york times, November 16, 2010, http://www. nytimes. com/2010/11/17/business/economy/17leonhardt. html. 5. Congressional Budget Office, The Budget
A. Stewart and Robert D. Atkinson, â€oerestoring America†s Lagging Investment in Capital Goods†(ITIF, October 2013), http://www2. itif. org/2013-restoring-americas
-lagging-investment. pdf. 9. This is a net cost with approximately $34 billion of offsetting savings coming from eliminating expensing.
This also includes the credit on the induced expansion of investment. See: Matthew Stepp and Robert D. Atkinson, â€oean Innovation Carbon Price:
Djakov et al. conclude that a â€oe10 percentage point increase in the 1st year effective corporate tax rate reduces the aggregate investment to GDP ratio by about 2 percentage points. †Simeon Djankov, Tim Ganser
and Andrei Shleifer, â€oethe Effect of Corporate Taxes on Investment and Entrepreneurship, †NBER Working Paper no. 13756 (2008), www. nber. org/papers/w13756. 12.
An Investment Guide to American Renewal. 16. Robert D. Atkinson and Stephen J. Ezell, Innovation Economics:
the Race for Global Advantage (New haven, CT: Yale university Press, 2012). 17. OECD, Science, Technology and R&d Statistics (science, technology and R&d indicators;
â€oerefueling the US innovation Economy†(ITIF, December 2010), http://www. itif. org/files/2010-refueling-innovation-economy. pdf,
Environment Working group, EWG Farm Subsidies Statistics (Total USDA subsidies for U s. farms; accessed October 15, 2013), http://farm. ewg. org/regionsummary. php?
The Affordable Care Act added an additional 3. 8 percent tax on net investment income
Luke A. Stewart and Robert D. Atkinson, â€oerestoring America†s Lagging Investment in Capital Goods†(ITIF, October 2013), http://www2. itif. org/2013
-restoring-americas-lagging-investment. pdf. 76. Congressional Budget Office, Options for Reducing the Deficit: 2014 to 2023,111. 77.
He is also the author of the books Innovation Economics: The Race for Global Advantage (Yale university Press, 2012) and The Past and Future of America†s Economy:
Long Waves of Innovation that Power Cycles of Growth (Edward Elgar, 2005. Dr. Atkinson received his Ph d. in City and Regional Planning from the University of North carolina at Chapel hill in 1989.
D c.-based think tank at the cutting edge of designing innovation strategies and technology policies to create economic opportunities
Distinguishing Between Productive Investment and Consumptive Spending Budget Policies INCREASE INVESTMENTS, INCLUDING CUTTING BUSINESS TAXES Reduce Effective Business Taxes Increase Tax Incentives for Investment Lower the Statutory Corporate Tax rate
Increase Outlays: Investment in R&d, Education, Infrastructure and Government Efficiency Science and Technology Education and Skills Surface Transportation Infrastructure Federal IT Investment POLICIES TO INCREASE WORK HOURS Increase
Prime-Age Residents†Work Rates Will These New Workers Take Jobs from Other Workers? SMART SPENDING CUTS Reduce the Growth of Social security Payments Eliminate Unproductive Business Subsidies,
2015 ACTION PLAN FOR JOBS 1 Table of contents Foreword by An Taoiseach, Enda Kenny, T. D. 4 Foreword by the Minister for Jobs, Enterprise and Innovation, Richard Bruton
Innovation Hub 39 2. 4 Strategic Banking corporation of Ireland 44 2. 5 Increasing Entrepreneurial Activity 46 2. 6 Intellectual Property in Enterprise
for Big data 53 3. 4 Winning Abroad 55 3. 5 Integrated Licensing Application Service 56 3. 6 Local Enterprise Offices 57 3
4. 2 Communications †Raising awareness amongst SMES and Entrepreneurs of supports 64 4. 3 Engagement with International Funding Institutions 65 2 4. 4 The LEOS Network †Enterprise Capacity Building 66
4. 5 Diversify the Range of Financing Options for SMES 67 4. 6 Policy Impact, Evaluation and Learning 69 4. 7 Trade Credit and Prompt Payments
69 5. Increasing Activation of the Unemployed 73 6. Growing Irish Enterprise and Foreign Direct Investment 77 7. Entrepreneurship 85 7.
1 Progressing the National Policy Statement on Entrepreneurship 85 7. 2 The Startup Gathering †5 Days †5 Cities †5 Industries 90
8. Competitiveness 94 8. 1 Easier to do Business 95 8. 2 Institutionalising the Drive for Competitiveness 98 8. 3 Infrastructure Investment to Underpin Employment
Stimulating the Domestic Economy 114 10.1 Agri-food 115 10.2 Marine 118 10.3 Tourism 119 10.4 Retail 121 10.5 Construction and Housing 125 11.
Developments in Financial services 133 11.4 Internet of things 133 11.5 Innovative/Advanced Manufacturing 134 11.6 Green Economy 135 11.7 National Institute for Bioprocessing Research
mapping out the huge amount of little steps necessary to support enterprise in the creation and maintenance of jobs.
And we are setting a goal to bring employment to 2. 1 million by 2018 †2 years earlier than our original target †effectively restoring all jobs lost during the economic crisis.
To achieve our vision of a stable and prosperous economy, we need to continue to make progress on our other goals:
winning more foreign direct investment, encouraging more Irish entrepreneurs to take the leap, improving SME access to finance,
We will embrace all good suggestions that help us build a stronger economy by continuing to seek out
Our work with the Global Irish Network and with our industry partners will continue to help identify promising actions across our economy.
The Action Plan is only a part of the pro-enterprise, pro-jobs agenda we have set for ourselves.
This Spring we will bring forward an updated overall macroeconomic strategy to grow the economy, deliver full employment and to maintain responsible management of the public finances.
We will also set out a medium-term capital plan designed to address emerging economic and social infrastructure bottlenecks that could constrain the economy.
Work is progressing on a national enterprise strategy and a skills strategy. A new strategy to grow the International Financial services Sector will shortly be brought to Government.
as well as strategies for a number of other specific sectors. 2015 ACTION PLAN FOR JOBS 5 This Government has worked hard to return stability to the economy and to the labour market.
Enda Kenny, T. D. Taoiseach January 2015 6 Foreword by the Minister for Jobs, Enterprise and Innovation, Richard Bruton, T. D. When I launched the first Action Plan
The idea that our economy could put 100,000 extra people back to work by 2016 was met with questioning,
The response of Irish entrepreneurs, managers and workers to the challenge of rebuilding our economy has been so strong,
and Enterprise Ireland have had record years. Combined they created a net additional 15,000 jobs, which in turn, support a similar number in support services and related sectors.
This is making a real impact all over the country. Notably, Enterprise Ireland †who look after Irish owned exporting companies †added over 8, 000 of those new jobs.
This means that Irish companies are right at the heart of our recovery, working side by side with our international colleagues.
Looking ahead I believe that the next wave of jobs will be driven by small Irish companies †the type of SMES that tend to create up to two-thirds of all new jobs in a growing economy.
and innovation and crucially, keeps ensuring that Government helps rather than hinders entrepreneurs from creating the jobs that deliver the tax revenues that allow us invest in vital services.
Richard Bruton, T. D. Minister for Jobs, Enterprise and Innovation January 2015 8 Update on the Action Plan for Jobs Five Strategic Objectives The Action Plan
. To stimulate the domestic economy and generate employment in locally traded sector 4. To build an indigenous engine of growth that drives up the export market share of Irish companies 5. To build world-class clusters in key sectors of opportunity In addition,
throughout this Plan is a selection of stories of how actions implemented by Government under the Action Plan for Jobs process have assisted individuals
To get Ireland back to a top-five ranking in international competitiveness 1st in the world for inward investment by quality
and value investment â 1st in the world for investment incentives investment â 1st in the world for availability of skilled labour labour 2nd in the Eurozone for ease of doing business business Overall,
To stimulate the domestic economy and generate employment in locally traded sectors Spend by IDA assisted firms in the local economy up 13%from 2011 Since 2011,
the numbers of people at work has grown by in agriculture 24,000 in accommodation and food services 23,000 OPEN in retail, construction, healthcare,
and education 16,500 Agri-Food Exports 2011 2012 2013 2014 0 4 8 12 9. 3 5. 9 6. 2 6
2. 0bn Services â 11. 3bn Services â 10. 4bn Services â 10. 0bn Materials â 2. 6bn APJ STRATEGIC
To build an indigenous engine of growth that drives up the export market share of Irish companies R&d in EI companies undertaking research increased by 13.8%from 2011-2013 to â 840m Enterprise Ireland supported firmsâ€
and services reached new record of â 18bn in 2014 (â 17. 1bn in 2013, â 16bn in 2012, â 15. 3bn in 2011) â 15. 3bn
2011 â 17. 1bn 2013 â 18bn 2014 â 6. 3bn on payroll â 10. 3bn on materials â 4. 4bn on services
1000 200 300 400 500 600 700 900800 2011 â 738m 2013 â 840m Enterprise Ireland firms spent â 21
billion in The irish economy in 2013 Source: DJEI SPD Source: DJEI SPD Source: DJEI SPD APJ STRATEGIC AMBITION 5:
To build world-class clusters in key sectors of opportunity 9 of the 10 top global software companies 9 of the 10 top global pharmaceutical companies top global medical technologies companies
and transforming Ireland†s economy and in reforming the way we support business and job creation in Ireland.
Indigenous exports and foreign direct investment are at all-time record levels. Our competitiveness ranking internationally has climbed to 15th1.
In 2012,2013 and 2014, on a quarterly basis we have reported in detail on the implementation of measures in the Action Plan for Jobs to support the transformation of the economy
and underpin the New Economy built on enterprise innovation, technology and skilled people. The achievement of 100
Beyond this, we need to set an even more challenging goal for the country †we want to replace all of the jobs lost during the economic crisis
innovation and entrepreneurship and in fostering new sources of growth for the economy. The objectives and actions set out in this Plan are designed to achieve specific impacts in terms of jobs,
and stimulate the domestic economy through local employment in sectors such as construction and retail, tourism, hospitality and agriculture and food.
Actions are set out to expand reform measures to boost entrepreneurship across all areas of the economy and society.
and to increase the levels of research, innovation and technology development for the benefit of enterprise. 1 IMD World Competitiveness Yearbook 2014 2 IMF, World Economic Outlook,
October 2015 10 Reducing red tape, streamlining public interactions with enterprises and improving service efficiency remain key priorities for government
We also want to increase access to procurement opportunities from all government departments and agencies that engage with enterprises.
We have set out further initiatives to decrease the cost of doing business. In the area of access to finance we have a range of measures focused on ensuring businesses have required the range of finance products to grow their sales, exports and jobs into the future.
A key part of the process is the engagement with enterprise and our Industry Partners. We have consulted with,
and been challenged by, a wide range of stakeholders including the National Competitiveness Council (NCC), entrepreneurs and the enterprise sector generally, with representative bodies and unions.
In addition over the coming year, the Government will bring forward a new Enterprise Policy and Strategy Statement for the period to 2025
setting out the vision for enterprise development over that period to secure full employment, and the key supports and business environment measures to be taken to ensure Irish based enterprises are among the most innovative, productive, competitive and entrepreneurial in the world.
A successor to the Strategy for Science, Technology and Innovation is also being developed, which will provide the framework for the strategic direction to enable the delivery
and support of effective research that produces outputs of maximum impact for Ireland†s economy and society.
ï§An updated overall macroeconomic strategy to grow the economy, deliver full employment and balance the public finances,
ï§A strategy for financing enhanced economic growth, and for ensuring that credit demand from growing businesses can be supplied;
ï§A national enterprise strategy; ï§A national skills strategy; ï§A national aviation strategy;
ï§A strategy to grow the International Financial services Sector; ï§An updated labour market activation and welfare reform strategy;
using collaborative funding initiatives to ensure skills supply meets demand to underpin the New Economy.
commensurate with resourcing, meeting 74 per cent of demand through domestic supply in 2018. We will provide technology summer camps and 1, 250 extra ICT places for students in 2015.
We will target 13,800 annual science, technology, engineering and maths graduates by 2018 (up from 10
Delivering Regional Potential This will include the launch of Competitive Funding Initiatives of up to â 25 million to promote innovative collaborations to support entrepreneurship
and property solutions to attract investment. Europe†s Energy Innovation Hub As part of this reform we will provide a one-stop shop to position Ireland at the forefront of innovation
and attracting mobile investment in energy related research, management services, technologies and solutions, and drive energy efficiency in the public and private sectors to improve competitiveness.
Strategic Banking corporation of Ireland This reform involves leveraging funding of â 800 million, to provide tailored loans
and a range of new products for enterprises across the country via existing and new to The irish market financial intermediaries over the next 24 months.
Increasing Entrepreneurial Activity By driving implementation of the actions in the new National Entrepreneurship Policy Statement we will double the jobs impact of start-ups in Ireland over the next five years, from 93
Intellectual Property in Enterprise This reform includes doubling the number of patents, industrial designs registered and other IP management activities of firms.
drive commercialisation through Enterprise Ireland (EI)/ Knowledge Transfer Ireland (KTI) and introduce a Knowledge Development Box to ensure the tax environment is optimised for innovative enterprises located here.
This reform will include 130 commercially relevant technologies transferred to enterprise and 35 new spinout companies. 12 Other Key Actions and Impacts Growing Jobs EI and IDA Ireland are embarking on new ambitious strategies to grow jobs, investment, entrepreneurship
and exports for Ireland. In 2015, Enterprise Ireland will target the creation of 13,000 gross new full-time jobs in client firms.
IDA Ireland will target the creation of 14,000 gross new jobs. The creation of new jobs in agency supported firms have important spillovers to other sectors of the economy through expenditure on Irish materials and services.
It is estimated that every direct job created in agency assisted firms indirectly supports another job in the wider economy thereby making a strong contribution to the overall target of getting to full employment in 2018.
Continued employment growth in the construction retail and tourism sectors will ensure the target of 100,000 extra people at work by 2016 is achieved as early as possible in 2015.
Increasing Sales and Exports Our recovery since 2011 is founded on a deliberate policy of driving export growth across the economy and supporting successful Irish based enterprises in international markets.
Enterprise Ireland through its programmes and overseas office network will target support clients to achieve â 19 billion in exports in 2015.
IDA Ireland will target the winning of 160 new investment projects for Ireland and EI will target 5 FDI food projects.
We will extend the Special Assignee Relief Programme to 2017 and further improve the attractiveness of our offering.
We will provide over 300 tailored mentoring programmes to support growing enterprises. A programme of 18 overseas ministerial-led trade missions and events will take place in 2015.
Stimulating the Domestic Economy through local employment We will take a range of measures to ensure that the success in international markets is mirrored in the domestic economy
and achieving the ambitious targets under Food Harvest 2020 (FH2020) for farm level investment and in food processing will impact directly on employment prospects in rural areas
and provide significant stimulus to local economies. EI will support 28 significant food industry investments, including five from foreign multinationals.
The Food Competitiveness Fund will help to improve productivity and employment in the food processing sector.
To support entrepreneurship we will implement a new Food Works initiative to support startups in the regions.
Increasing Entrepreneurial Activity The launch of the Local Enterprise Offices (LEOS) was delivered a major reform in 2014.
enterprise engagements and supports to be effective first-stop-shops for enterprise information and supports and launch an Entrepreneur Partnering Programme.
We will build on the 2014 success of the awards programmes such as Ireland†s Best Young Entrepreneur and initiatives under the National Entrepreneurship Strategy.
Development & Innovation (RD&I) We will support enterprises and public research organisations to win â 150 million in research funding from the EU under Horizon 2020 in 2015 as part of the overall national target of â 1. 25 billion
We will continue our â 245 million programme of investment with industry in SFI Research Centres throughout the country.
We aim to increase the number of enterprises who are R&d active in both IDA and EI portfolios,
but there is an encouraging shift in the make up for new investments. In 2015, efforts will continue to reinforce measures already introduced
As the economy moves into a new phase of growth, there is now an opportunity to address both cyclical and structural constraints in the financing of the SME sector and the continuing issue of the need for prompt payments.
This will require a clear focus on how best to maximise the benefits to SMES of the evolving financial landscape in Ireland
We are introducing closer monitoring of impacts to measure performance and to test areas of opportunity against international benchmarks in the areas of job creation, startups, market penetration, innovation, efficiency of public sector interface with enterprises, cost competitiveness, finance
and investment and access to talent. All agencies and departments have set out actions to contribute to the key indicators as part of this Action Plan for Jobs.
and virtually every sector of the economy, showing growth; ï§Regions with history of high unemployment such as the South East †which Government has brought a new focus to,
with services exports up 10 per cent in the first nine months of 2014 and goods exports up 2 per cent,
The aim of the Action Plan for Jobs is to create the conditions to support private sector-led, export-oriented economic growth and job creation.
and skills system to ensure the future needs of the economy are met. It highlights the importance of stimulating productivity,
investment and growth in domestic sectors of the economy to help in addressing the employment challenge,
This Plan moves the finance agenda for enterprise on from that of removing barriers to access to finance to ensuring we have the right mix of finance products available to meet the needs of growth-oriented businesses
ï§in the areas of entrepreneurship, the launch of the Local Enterprise Offices and launch of â€oeireland†s Best Young Entrepreneur†competition;
These reforms have impacted on job creation capacity and potential in the economy, but we have more to do to achieve the target of 100,000 jobs by 2016.
In relation to Enterprise Agency-supported employment, total permanent employment in EI and IDA Ireland assisted companies in the industrial and services sectors increased by 5 per cent to over 350,000 in 2014.
Foreign Direct Investment was buoyant in 2014 with IDA Ireland securing 197 investments and reporting a net increase in employment in client firms of 7, 131.
IDA Ireland figures indicate that 45 per cent of the investments came from companies investing in Ireland for the first time,
as Ireland†s value proposition continues to resonate with new investors. The Government Policy Statement on FDI published in 2014 is designed to ensure that Ireland†s inward investment offering continues to be attractive and competitive.
The long-term trend of declining sub-supply purchases in the economy by foreign subsidiaries has been reversed
and linkages are growing strongly. 4 Cornell University, INSEAD, and WIPO (2014: The Global Innovation Index 2014:
The National Policy Statement on Entrepreneurship in Ireland was published in 2014 which aims to support the creation of an additional 93,000 jobs from startup companies in the next five years.
Enterprise Agency Strategic Ambition Enterprise Ireland and IDA Ireland are embarking on new strategic drives to support enterprise and investment in the economy over the coming years.
Enterprise Ireland†s strategy is about maximising job creation in Irish businesses. It provides a vision for Irish enterprise for 2020 and details the strategic objectives,
initiatives and actions that will be delivered by Enterprise Ireland by 2016. Employment growth within Enterprise Ireland supported companies will be fuelled by an increase in global demand for Irish products and services.
Enterprise Ireland will lead a drive to increase the exports of client companies leading to significant employment growth in those companies.
Agency clients are dispersed nationally and therefore Enterprise Ireland activities will have a positive impact on the prosperity of every region of Ireland.
Enterprise Ireland will work with ambitious and capable business owners, across the business development spectrum, to:
ï§Drive entrepreneurship-start more new businesses and achieve full growth potential; ï§Stimulate innovation by accessing state-funded research
and innovation to develop a competitive edge; ï§Develop international scale, driving exports and supporting international growth strategies;
and ï§Build future competitive advantage. There is also: ï§A new support network to drive entrepreneurship, working through Local Enterprise Offices at regional level, to encourage aspiring entrepreneurs to come forward for assistance
and increasing the rate of new business creation; ï§A renewed focus on collaboration between academia and business,
ï§A major drive for export growth, including an expansion of Enterprise Ireland†s existing export platform,
and ï§Key sectoral initiatives in high growth sectors such as food, manufacturing, software, internationally traded services and construction resulting in a more diversified trade portfolio for Enterprise Ireland clients,
and long term economic and job growth. 18 Foreign Direct Investment (FDI) has been, and will continue to be, an integral part of Ireland†s economic development strategy.
Foreign owned firms contribute substantially to Ireland†s exports, jobs, expenditure in The irish economy and to Exchequer funds.
Enterprise policy initiatives aim to support existing companies to expand, transform and diversify in order to increase the strategic importance of Irish operations within their parent corporations.
Two of the key aspects of the IDA Ireland Horizon 2020 strategy were to drive company transformation to ensure higher levels of job retention and to focus particularly on the growth in employment intensive services,
Ireland†s success in attracting foreign direct investment requires a focus on national competitiveness. Targeting of specific growth sectors
and business models increased competitiveness and an improved international reputation are key factors that contributed to the strong results in the past years.
and funding mec enterprise a mpacts are lin actical tool to The logic mo g an appropr establishing 2 ld Survey.
Benchmark metrics are supplemented with key data from the annual surveys of the Enterprise Agencies, such as employment, expenditure, sales,
and outputs from incubators/accelerators, etc. See Annex 2). Current Performance: Sales and Exports In the face of difficult global market conditions, Ireland†s overall trade performance has improved steadily since 2011.
Net exports have continued to contribute to overall economic growth. A number of structural weaknesses remain that we will continue to address as part of the Action Plan process including diversifying our export base and destination markets and sources of inward investment,
so as to ensure sustainable longer-term competitiveness. Indigenous exports are at record levels, having increased by one-third over the period 2010 to 2013.
Enterprise Ireland estimates that export sales may reach over â 18 billion for 2014 from â 17.1 billion in 2013 and â 16.2 billion in 2012.
For the first time in 2013, services exports exceeded goods exports, providing a more balanced portfolio of trade.
and we need to build on the progress so far on deepening of trade links with the world†s leading developing economies,
Similarly, IDA is making good progress on diversifying source markets for investment securing 20 per cent of new greenfield investments from high-growth and emerging markets in 2014.
ï§Win 160 new FDI investment projects together with five food FDI projects; and ï§New targets as part of IDA 2019 Strategy.
Domestic Economy (retail, construction, tourism, agri-food) Current job creation performance in the domestic economy is improving,
with the CSO data indicating that some of the largest employment increases have been in the domestic economy 5 Framework for the Evaluation of Enterprise Supports (2011), Forfã¡
Purchases of Irish raw materials and services by overseas clients of EI IDA and à darã¡
ï§Support 28 significant food and drink industry investments, five of which will be FDI projects; ï§Introduce a new Graduate Development Programme with a target of 10 graduates into the Food SME sector;
Skills Provision The key area of competition among countries is in the development and attraction of high-end ICT, analytics and engineering skills.
We are committed to maintaining the progress on meeting ICT skills demand through increasing domestic graduate supply,
There are continuing demands and need for extra provision in a number of areas that will be the focus of engagement between the HEA and higher education institutes.
as are science and maths, and the awareness of the attractiveness of STEM careers. Selected Targets for 2015:
ï§Meet employer demand for employment permits in the ICT sector, which is expected to reach 2, 000;
ï§Investing in 1, 250 extra places p. a. to achieve target to meet 74 per cent of demand with domestic supply by 2018;
ï§Target 13,800 annual science, technology, engineering and maths graduates by 2018 (up from 10,200 in 2011;
We need to continue to ensure that work incentives are adequate across the economy if we are to support unemployed jobseekers,
Level of Entrepreneurship/Startup While the resilience of our exporting sector has been one of the economy†s greatest strengths since the onset of the recession,
this does not obviate the need to develop a more sustainable, broad enterprise base. The challenge is to grow new sectors,
This will require an enterprise environment that supports, amongst other things, enhanced levels of entrepreneurship and progress is being made.
In 2014, building on the Entrepreneurship Forum's report, the Government published the National Policy Statement on Entrepreneurship in Ireland.
This details a number of the immediate key actions to support the Government's ambition
for example enhancing the weak growth levels in net capital stock particularly with regard to investment in machinery and equipment.
ï§Launch a Manufacturing Capital Equipment Grant providing up to â 250,000; ï§Pilot Platform 4 Growth online programme involving 100 firms;
both in terms of the level of investment and the human resources engaged in RD&I activity. Business expenditure on RD&I and the number of indigenous and overseas firms that are RD&I active has continued to increase since 2011.
650 respectively between 2011 and 2013 and further progress is needed to get to international benchmarks. Across the EU
the contribution of medium and high-tech product exports to the trade balance, exports of knowledge-intensive services, sales due to innovation activities and license and patent revenues from selling technologies abroad.
ï§Increase researchers in enterprise to international benchmarks; and ï§Target to double patent and trademarks and registered design performance.
Where the potential for improved competition exists in any given market, Ireland's policies should promote rather than inhibit such competition.
Ireland†s poor performance with regard to the legal profession (which to date is regulated largely self) reflects poor scores in relation to interprofessional cooperation, compulsory chamber membership,
Given the ongoing programme of budget consolidation, sustained under-investment in infrastructure has the potential to act as a limiting factor with regard to future productivity growth.
while Ireland has made significant investment in infrastructure in recent years, further investment is required to ensure that our critical infrastructure can support economic recovery and enterprise growth.
The World Economic Forum Competitiveness Report finds that Ireland ranks 28th in terms of transport infrastructure. Without appropriate investment in transport infrastructure and service deficits, this congestion will erode our competitiveness,
negatively impacting on quality of life and reduce the attractiveness of our cities with regard to foreign direct investment.
In other key infrastructure areas such as next generation broadband significant commercial investment is now taking place,
and further investment is planned in the provision of high speed fixed line and mobile broadband services.
The Government has committed to a fibre based intervention to address areas where there is no commercial case for investment.
Selected Targets for 2015: 6 European commission Innovation Union Scoreboard 2013 2015 ACTION PLAN FOR JOBS 25 ï§A tender for the delivery of high speed broadband
and ï§Invest â 3. 6 billion under the Public Capital Programme in 2015 to create direct and indirect jobs,
and investment and that there are a series of upward cost pressures emerging. Particular focus is required to address domestically influenced cost factors in the labour market
in the energy sector and in the property market as rapid increases in prices have the potential to produce adverse knock-on consequences in terms of prices and wage expectations across the entire economy.
ï§New Legal Services Regulatory authority to become operational; ï§â 39 million in Exchequer supports to further stimulate energy saving activity;
Credit and Investment for Growth Limited funding flows in an economy damage the environment for entrepreneurship
Notwithstanding recent improvements, the area of credit for enterprise requires ongoing attention given the stated ambition of developing a more diversified and competitive financial system capable of financing the growth potential of Irish SMES.
which would have inhibited investment and growth. However, through strong support mechanisms now being offered at local level by the LEO network and centrally by Enterprise Ireland for the domestic SME sector
there is a comprehensive framework now in place to provide viable, sustainable SMES with every opportunity to access the funding they need be it bank financing,
equity provision or venture capital support. 7 Central bank SME Market Report 2014 H2 26 Selected Targets for 2015:
ï§Provide â 800 million over 2 years of additional funding through SBCI; ï§Credit Guarantee and Microfinance Schemes to SMES to be reformed and promoted;
and training system and employers to deliver on skills needed to build the New Economy. ï§Attract
meeting 74 per cent of demand through domestic supply in 2018. Provide 1, 250 extra ICT places for students in 2015. ï§Target 13,800 annual science, technology, engineering and maths graduates by 2018 (up from 10,200 in 2011.
Ireland†s competitive advantage in international markets, as well as the competitiveness of our regions, will increasingly be driven by the availability of world class skills at all levels.
Public investment in education and training since the 1960s has had a major impact on Ireland†s social and economic development.
Action Plan for Jobs 2015 will see continued emphasis on the importance of skill levels as a key element of Ireland†s competitive position in terms of global investment and trade.
The education and training system has responded to significantly increased demand in recent years: in the six years to 2014, the higher education system delivered 25,000 extra places.
and training provision with the skills needs of Ireland†s economy. Over 60,000, or 29 per cent of higher education students are enrolled in Science
The OECD has called skills the new global currency of 21st century economies and many countries have placed a major focus on human capital development
and investment in education and training, raising their skills profile, productivity and attractiveness to international investors.
For this reason, maintaining a strong level of investment to support high-quality outcomes in terms of skills will be critical to maintaining Ireland†s international competitiveness.
Today the competition for talent is global, and talent has become increasingly mobile. It is critical that we continue to nurture talent to meet the needs of an advanced economy.
Nurturing the talent pool in Ireland means being able to develop, attract and retain the talent required,
and to ensure that our enterprises of the future emerge from entrepreneurs equipped with world class talents,
activation, research and the broader business environment. Government alone cannot deliver on our high level ambitions.
and the economy at regional and national level and to ensure that individuals have the right skills to participate fully in society
across a range of areas including ICT, data analytics, international sales, engineering and entrepreneurship in initiatives such as the ICT Skills Action Plan, Springboard and Momentum.
enterprise development agencies and the education and training system are crucial to strengthening engagement in areas such as:
employer input to the development of education and training provision, creating sufficient and sustainable work placement opportunities and the development of apprenticeships in new economic sectors.
and the wider diaspora aware of opportunities available for them to return to apply their skills
and Jobs, Enterprise and Innovation, and comprising senior enterprise and education representatives, is responsible for monitoring
and overseeing delivery of the Action Plan. Significant efforts are being made to enhance the ICT talent pool in Ireland.
to get to the ambitious target of meeting 74 per cent of demand through domestic supply by 2018.
We will also target 13,800 annual science, technology, engineering and maths graduates by 2018 (up from 10
Significant progress has been made in raising STEM participation in schools †notably a 74 per cent increase in higher level maths take-up in Leaving certificate since 2011.
which will highlight job opportunities and available ICT programmes throughout Ireland to students and their families in advance of the 2015 CAO deadline.
The Action Plan commits the Government to meet employer demand for employment permits in the ICT sector,
We will also engage proactively with the diaspora as part of our Diaspora Policy to promote job opportunities here,
ï§Deliver the skills needed to underpin the New Economy built on Enterprise Innovation and Technology
ï§Develop new Apprenticeships in response to proposals from key sectors of the economy. It is estimated that the economy has a long run average requirement of between 3, 500 and 4, 000 annual registrations in the existing apprenticeship trades, both construction and non-construction.
The Government is committed also to expanding apprenticeship into new areas and this will be the focus of the work of the Apprenticeship Council over the coming years;
and Training Services Plan. 2015 Actions A Step Change in employer engagement to build skills for the New Economy. 1 Review the National Skills Strategy
and achieve a step change in enterprise engagement in higher education institutions. HEA) 3 Through strengthened collaboration between Government, the education system and industry and as part of the goal of making Ireland the most attractive location in the world for ICT skills and ability, implement the key actions from the ICT
and engagement between enterprise and higher education providers to roll out Level 8 ICT Conversion programmes as part of the Springboard 2015 programme.
industry and education through Smart Futures to raise awareness of STEM career opportunities for post-primary students, in line with the agreed 2014-16 strategy.
HEA) 32 10 Maintain the level of awards under the IRC Employment Based Programme to provide opportunities for MSC
Irish Research Council) 11 Continue to implement the pilot phase of the Post Graduate programme of Professional Practice to provide graduates with opportunities to develop cross disciplinary skills in STEM based sectors with enhanced engagement
skills for enterprise to trade internationally; international financial services (IFS; entrepreneurship and business startup. HEIS, HEA, Employers) 14 Publish an integrated 2015 Further Education
and Training (FET) Services Plan that includes provision to meet the FET skills needs identified in various published EGFSN reports and sectoral studies.
SOLAS) 15 Target provision to meet regional employer needs, identified through regional labour market profiles and through local and regional employer engagement.
SOLAS, ETBS, HEIS) 16 Develop new Apprenticeships in response to proposals from key sectors of the economy.
DJEI) 28 Implement 2015 Research Professorship Programme to attract leading research talent to Ireland in key areas of opportunity.
as part of the â 3. 619 billion Public Capital Programme in 2015 to make Ireland a great place to live
The aim of the Action Plan for Jobs is to support enterprise growth and job creation in every region of the country.
The pace of progress in the regions †and especially those with the highest unemployment levels-needs to be accelerated through targeted supports for enterprise and job creation.
Growing the economic base of regions supports social cohesion and provides opportunities for young people in particular to continue to live
Direct engagement with the diaspora from a local level also has the potential to open up local investment and job opportunities.
It will provide new funding for enterprise support in the regions and seek to leverage
A significant regional fund of up to â 25 million in competitive funding will be announced to support regional initiatives through Enterprise Ireland, IDA Ireland and the LEOS, in particular.
Under the 2014 Action Plan for Jobs, the Department of Jobs, Enterprise and Innovation developed a framework for the preparation of regional enterprise strategies.
This framework provides a model for coordinated action across public bodies and other stakeholders to maximise the potential of each region to support enterprise development and jobs growth, based on the strengths and assets
and will lead to the publication and implementation of a Regional Enterprise Strategy for the Midlands in early 2015.
and will include specific actions on the part of Enterprise Ireland, IDA Ireland, the LEOS, Ã darã¡
s na Gaeltachta and other public bodies active in each region to promote enterprise growth and job creation.
In this context, the Department of Jobs, Enterprise and Innovation and Enterprise Ireland will also work to explore how the Community Enterprise Centre network can best be enhanced to support regional job creation.
The Regional Enterprise Strategies will support the increased emphasis on economic development at Local authority level under these Plans,
The increased emphasis on supporting the regions also provides an opportunity to place renewed focus on local and rural development
s na Gaeltachta will continue a programme aimed at increasing investment in Gaeltacht areas. The Report of the Commission on the Economic Development of Rural areas (CEDRA) was published in 2014.
Direct engagement with industry and entrepreneurial stakeholders has highlighted the key issue of broadband provision for economic growth, innovation and entrepreneurship in regional locations.
In November 2014, the Minister for Communications, Energy and Natural resources published online maps that identify where commercial providers will deliver high-speed broadband access by the end of 2016.
and the submission of an application for EU State Aids approval. 2015 Actions Supporting Enterprise at a Regional Level 34 Develop
and publish a suite of Regional Enterprise Strategies, based on consultation with key stakeholders at regional level and on the analysis of the strengths of each region, commencing with the publication of strategies for the Midlands and South East regions.
The strategies will include a series of specific actions and targets for delivery by a range of public bodies to support enterprise growth and job creation in the regions and will complement the statutory Plans to be developed as part of Local government reform.
DJEI, EI, IDA, other relevant Departments and public bodies) 35 Ringfence up to â 25 million for competitive regional funds in support of the Regional Enterprise strategies.
DJEI, EI, IDA, LEOS) 36 Build on the success achieved to date on the Competitive Feasibility Funds
and implement annual Local Enterprise Development Plans for each of the 31 Local Enterprise Offices,
setting out targets to support entrepreneurship, enterprise growth and job creation. LEOS, EI, LAS) 2015 ACTION PLAN FOR JOBS 37 39 Create a minimum of 500 new jobs
s na Gaeltachta client companies in the Gaeltacht, including through supports for post-research/pre-commercialisation units in the Life sciences, Food and Business Support Services and Creative Enterprises sectors,
à nag) 40 Annual Enterprise Development Plans for each Gaeltacht area will be prepared and implemented, setting out targets to support entrepreneurship, enterprise growth and job creation.
à nag) 41 Establish three new Regional Assemblies. DECLG) 42 Regional Assemblies to commence preparation of regional Spatial Economic Strategies.
including cultural tourism, audiovisual and digital technology, marine resources, niche manufacturing, food & beverages and creative language-based services.
to help to support the attraction/embedding of Foreign Direct Investment in those locations. IDA) 45 Continue to work to attract Foreign Direct Investment in areas outside of Dublin and Cork.
IDA) 46 Growing on the successful strategy of providing property solutions in regional locations, continue a building
and refurbishment programme to help to support the attraction/expansion of Foreign Direct & Indigenous Investment in regional/rural locations in the Gaeltacht.
Energy is an area offering substantial economic and job creation growth opportunities for Ireland. Ireland has substantial clean energy resources, a very strong ICT sector,
and an innovative and entrepreneurial culture and enterprise base. Our scale is also an advantage
storage and control solutions along the energy value-chain for international markets and seek to maximise related manufacturing opportunities.
and there is a growing critical mass of players that could enable Ireland to develop a leading global position in the development of new energy services.
This Disruptive Reform is intended to provide vision, coherence and identity to Ireland†s energy enterprise and jobs potential.
and policy commitment to exploiting the economic opportunities that arise from moving to a low carbon society over the medium to long term.
It is intended to provide clear access to services, to the research landscape and to regulatory solutions for innovators.
It will provide a branding for The irish energy enterprise sector in terms of exporting products, services and solutions and attracting FDI.
It will bring visibility to Ireland's own progress in deploying new technologies which is an important part of the branding,
and of most potential opportunity for Ireland and to attract significant private enterprises and investment to Ireland in terms of sustainable energy supply chain opportunities.
Our current areas of success include: ï§Advanced energy efficiency in buildings and industry, rooted in ISO standards,
Ireland has a range of engineering, ICT and services skills, expertise and products developed in Ireland that are in increasing demand internationally;
ï§Ireland is home to many of the world†s leading technology companies, many of which have identified the development of new technologies to service the energy sector as an important element of their future growth strategies
ï§There is also a vibrant domestic enterprise sector that is developing world leading new products, such as in smart energy control
and services and is a major advantage to smaller Irish based technology companies; and ï§Growing base of research, innovation and demonstrative activities in public research system
Driving Economic Opportunity The last of these priorities, Driving Economic Opportunity, is particularly pertinent to the Energy Innovation Hub Disruptive Reform,
as it focuses on how energy policy can facilitate increased investment, innovation, job creation and economic development without acting as a barrier to these important factors for the economic and social recoveries prioritised by the Government.
and academia stakeholder consultation in order to determine a future research strategy for Ireland. The Government has established also a new Horizon 2020 Strategic Research Proposals Group to identify large-scale EU funding opportunities for businesses
and researchers in Ireland and nurture applications that will give big wins for Ireland in areas such as energy.
It is focused exclusively on identifying opportunities and mobilising EU funding applications for large scale projects of strategic value,
and the EU€ s progress towards a low-carbon economy and society built on innovative research, effective strategic planning and an emphasis on timely and appropriate action.
Among the products and services where Ireland can establish world leadership could include: ï§Technologies to allow large scale integration of renewable energy;
and provide a focal point for liaison with stakeholders. DJEI, DCENR, DECLG, DAFM and relevant Agencies) 54 Promote Ireland as Europe†s Energy Innovation Hub,
and demonstration and enterprise activities. Develop a targeted campaign to achieve greater international awareness of the opportunities to develop leading edge energy products among companies with an existing or new presence in Ireland.
SEAI, IDA, EI, SFI) 55 Create an integrated one-stop portal of national energy assets and infrastructure, energy related enterprises and innovators and research activities.
SEAI) 56 Progress initiatives to exploit the full range of opportunities identified in the SEAI/EI/IDA report on Energy Supply Chain Opportunities for Ireland.
IDA, EI, SFI and SEAI to work with indigenous and international enterprises across the energy value chain to develop their activities in Ireland.
This will involve ICT multinationals already in Ireland locating new or additional energy activities, attracting multinational energy companies to locate research, innovation and demonstration activities in Ireland and indigenous companies,
both ICT and energy, participating in demonstration activities and developing new products and services for international markets.
and enterprise, drawing together relevant research and innovation activity underway across the public research system in Ireland.
SFI, HEIS, EI, IDA, SEAI) 2015 ACTION PLAN FOR JOBS 43 58 Accelerate commercialisation of research and technologies through greater linkages with enterprise and entrepreneurs.
and entrepreneurs to the services suited to their needs. This will allow for genuine crosscutting collaboration among the range of agencies
SEAI, DCENR, DECLG) 62 Promote the use and application of energy efficient technologies and solutions in the manufacturing and services enterprises in Ireland,
This end-to-end approach to research strategy will provide the strongest potential for the research sector to contribute to national energy policy priorities and to job creation in the wider economy through the development of innovative commercial products, processes and solutions.
to go to the market to identify solutions for the delivery of energy reduction services. DCENR, Public Bodies) 44 2. 4 Strategic Banking corporation of Ireland â 800 million extra in the next 24 months will be lent to SMES through the new SBCI.
ï§Market access for new entrants to the SME lending market, creating real competition; ï§New forms of credit in The irish market;
All of these elements will contribute to the creation of a more dynamic and competitive environment for SME funding.
In particular, a combination of longer tenure and better conditions with potentially lower cost pricing will provide SMES with access to patient intelligent capital that will support their long-term development,
stimulate increased investment in growth, and generate additional employment opportunities. The SBCI€ s new forms of credit will give SMES a greater capacity and, indeed incentive,
to make investments on the basis of cash flow that is more tailored and customised to their business needs.
The SBCI will also seek to address demand side issues in relation to SME financing. By ensuring financing at a lower cost,
of a longer tenure and with more flexible conditions attached this new entity will provide an important †signalling†effect in relation to releasing any †latent†or †pent-up†demand for finance from SMES.
and ICO (the Spanish State Investment Bank) to support the financing of their respective SME sectors.
ï§The European Investment Bank (EIB; ï§Kreditanstalt fur Wiederaufbau (Kfw; and ï§The National Pension Reserve fund (ISIF.
and also to enhance competition in the market place. By providing stable low cost funding to all qualifying institutions (including new entrants) the SBCI should serve to intensify competition within the SME finance market,
which has become over-concentrated. The establishment of this new wholesale lending institution could also serve as a key incentive for new market entrants
in order to deliver increased choice and enhanced competition. The SBCI is a vital new part of the country†s financial architecture.
This innovative approach to funding SMES will enhance the long-term potential of the sector to drive economic growth and job creation in Ireland.
Given the SBCI€ s potential to improve both the supply and demand for credit the effective implementation of its business plan and associated operational elements over the course of 2015 will be critical.
The SBCI and the newly established Irish Strategic Investment Fund (ISIF) will, in relation to SME financing, operate as enabling institutions,
working with public and private actors to both augment the impact of existing initiatives and where appropriate develop new measures.
both the SBCI and the ISIF, working closely with Enterprise Ireland, will have a key role in developing the finance products
Enterprise and Innovation. Furthermore, both of these key financing institutions have the potential to leverage additional private sector investment into the economy,
including the SME sector. As part of the reporting on SME financing by the SME State Bodies group, the Cabinet Committee on Economic Recovery and Jobs will be updated on SBCI funding to the sector as the corporation implements its business plan through 2015.2015 Actions
Strategic Banking corporation of Ireland 66 Implement the SBCI Business plan for SME lending over the course of 2015,
including achieving key milestones as set out in the SBCI plan of: first lending to SMES and roll out of products in Q1 2015;
The Government†s National Policy Statement on Entrepreneurship in Ireland was published in October 2014 and represents the first time an Irish Government has published a comprehensive national strategy for entrepreneurship.
The key target contained in the plan is to double the jobs impact of startups in Ireland over the next five years, from the current level of 93,000.
and to be acknowledged as a world-class environment to start and grow a business. To achieve the ambition,
we will improve the key interlocking elements that impact on entrepreneurship and make up the entrepreneurship ecosystem in Ireland.
These are: ï§Culture, human capital and education; ï§Business environment and supports; ï§Innovation;
ï§Access to finance; ï§Networks and mentoring; and ï§Access to markets. No one policy intervention will generate substantial impact on the entrepreneurship ecosystem,
but various actions if taken together will combine to create greater synergies. The overarching National Entrepreneurship Statement serves to coordinate all areas of Government policy in the area of entrepreneurship to drive these synergies.
The actions set out in the National Entrepreneurship Policy Statement will be delivered and overseen by an interdepartmental/agency Implementation Group.
Further details of the precise actions being pursued are listed in the Entrepreneurship chapter (Chapter 7). 2015 Actions National Entrepreneurship Strategy 69 The National Entrepreneurship Policy Statement actions will be progressed by an interdepartmental
/agency Implementation Group chaired by DJEI. DJEI) 2015 ACTION PLAN FOR JOBS 47 2. 6 Intellectual Property in Enterprise ï§Double Ireland†s performance in Intellectual Property to join Europeâ€
s best-in-class by 2018 ï§Put in place a †Knowledge Development Box†income-based tax regime for intangible assets Knowledge Based Capital Increasing the level of investment in knowledge
-based capital will be an important source of enterprise growth and competitiveness into the future, with job potential for Ireland.
DJEI data indicates that currently 7 per cent of sales of indigenous firms is from new products and services,
which is below international benchmarks. Increasing intellectual property management and exploitation capabilities within firms across all sectors of the enterprise base is an important step in addressing this gap.
International indicators for intellectual assets management show that there is opportunity for Ireland to strengthen its performance in this area
and thereby improve its innovation performance overall. Currently Ireland†s patent applications per billion GDP (PCT) at 1. 53 is below European comparators such as Denmark, Finland and Sweden
which range from 2. 55 to 2. 97 per billion GDP. In relation to Community Trademarks per billion GDP Ireland†s performance is somewhat better at 5. 46 per billion GDP
and the European average is 5. 918. We are significantly behind other countries in registering community designs at 1. 28 per billion GDP compared to Denmark at 8. 14 and Finland at 4. 78 per billion GDP.
and ramp up the proportion of sales in enterprises from new products and service innovations.
research centres and technology-licensing opportunities to benefit their business. The broader IP environment should also support firms in realising internationally competitive returns from their IP activity
and attract RD&I and IP-related activity to Ireland. DJEI has initiated a study to determine how best to support the enhancement of the Intellectual Property activity of the firm base in Ireland
The Road Map responds to a changing international environment and ensures that we continue to attract
or more in knowledge-based capital as they do in physical capital such as plant and machinery.
which have existed for many years in countries that compete with us for foreign direct investment
and will be agreed within the international parameters for fair tax competition. A public consultation process will gather views on how the Knowledge Development Box should operate.
This intellectual property offering will be a key element in attracting future foreign direct investment to Ireland.
1. Make Ireland the best environment for generating and managing IP; 2. Ensure firm-level supports
and advice for managing and commercialising IP are competitive and meet enterprise needs; 3. Continue to accelerate the commercialisation of IP from publicly funded research
DJEI, Enterprise Ireland, IDA, SFI) 71 Continue to support IP activity e g. patenting, industrial designs within firms.
EI/KTI) 77 Through Knowledge Transfer Ireland (KTI) and Enterprise Ireland†s suite of commercialisation and technology transfer supports,
and efficient transfer of economically important research outputs to industry in order to develop existing and new enterprises including 130 commercially relevant technologies transferred to industry and 35 new spinout companies.
significant projects that require cross Government collaboration that can make a real difference to enterprise and jobs in a short space of time.
Manufacturing Step Change, National Health Innovation Hub, Competitive Ecosystem for Big data, Winning Abroad, Integrated Licensing Application Service, Local Enterprise Offices, Trading Online,
and where manufacturing accounts for a significant share of economic activity. The characteristics associated with our ambition for manufacturing include Ireland being:
The Expert Group on Future Skills Needs, from consultations with companies, has identified a demand for manufacturing skilled trades for sectors such as food, medical devices, engineering and Pharma/Biopharma,
and select a second cohort of enterprises for an initiative in 2015. EI) 81 As part of the National Talent Drive Disruptive reform (see above),
develop new Apprenticeships in response to proposals from key sectors of the economy. DES, SOLAS, HEA, Apprenticeship Council, Employers and Education Bodies) 82 Enterprise Ireland will support a total of 115 firms across all levels and activities, through its Leanstart, Leanplus and Leantransform Programmes.
EI) 83 Enterprise Ireland will launch a Manufacturing Capital Equipment Grant providing up to â 250,000 by way of grant to eligible SMES for the purchase of capital equipment (subject to
value for money criteria), that will boost productivity and lead to increased employment. EI) 84 Enterprise Ireland and the IDA will develop a strategy to develop Ireland†s aviation related business sectors.
A key part of the strategy will involve roll out of the SC21 initiative to 18 more sub-suppliers.
and enterprise providing gains to the health and enterprise sectors. It aims to: ï§Facilitate enterprise develop and commercialise new healthcare technologies,
products and services by giving them appropriate access to the health service to validate and refine products;
ï§Facilitate the health system to find efficiencies and improvements by engaging with innovative companies creating solutions to problems (reducing cost, increasing service efficiency, improving patient outcomes, etc.);
The overall ambition of the Disruptive Reform is to build on existing enterprise strengths to make Ireland a leading country in Europe in the area of Big data and Data Analytics.
A number of significant initiatives and investments were progressed in 2013 and 2014 in partnership with the enterprise sector
while this new growth opportunity presents complex and multiple policy challenges Ireland has made good progress across the key areas.
In particular Ireland has developed a world class research capability through investments in INSIGHT and Ceadar, and in 2014 the Government launched the Open Data Portal to act as the primary source of public sector datasets.
However in the face of strong European and international competition in this area the Task force has identified a number of new actions that will harness Big data for employment growth.
and continue to promote engagement by enterprise in Ireland; 3. Continue to implement the recommendations of the EGFSN€ s report â€oeassessing the demand for Big data and Analytics Skillsâ€;
4. Develop a coherent ecosystem to bridge the gap between R&d and innovation and take-up;
policy must take into account the full data value cycle and the role of all stakeholders. By focusing on developing a coherent ecosystem Ireland can bridge the gap between R&d
Task force on Big data, DJEI) 90 The Task force on Big data will review the opportunities for Ireland arising from the Internet of things
and develop specific policy actions to develop those opportunities. Task force on Big data, DJEI, IDA) 91 Establish interdepartmental committee on data protection issues and related structures.
D/Justice and Equality, OPW) 95 Engage intensively with EU partners and stakeholders in relation to ongoing negotiations on Data protection regulation.
Ringfence â 4 million in 2015 to secure increased inward investment and export growth in high growth and emerging markets.
In APJ 2014, the Government-through the Department of Jobs, Enterprise and Innovation-allocated additional funding to the enterprise agencies to increase their focus and footprint in high growth and emerging markets and new areas of opportunities
for exports and inward investment. The increased investment through IDA Ireland in overseas offices is targeting the creation of an additional 10,000 new jobs (6, 000 direct and 4, 000 indirect) over 5 years through an investment programme
which will see the provision of additional resources to IDA Ireland to be deployed overseas including in emerging markets,
and support for enterprises through EI is focused on the provision of additional on-the-ground support by Enterprise Ireland in overseas markets including China, South korea,
United arab emirates and South africa and targeting companies having significant engagement with the Enterprise Ireland Potential Exporters Division.
The services provided by Enterprise Ireland†s overseas offices to Irish companies are a critical aspect of the fully integrated holistic package of supports available to Irish companies to support international growth
and to maximise the opportunity for job creation in Ireland. It also includes working with first time exporters
and providing a range of programmes to exporters to develop the capabilities of Irish enterprises to grow exports through programmes aimed at both existing exporters and potential exporters.
tourism and investment and implement Local Market Plans in priority markets and to undertake targeted initiatives in sectors including international education services, engineering services, cultural services,
and design. 2015 Actions Winning Abroad 96 Ringfence â 4 million in additional funding in 2015 to secure increased inward investment and export growth in high growth
build further opportunities internationally for emerging and established Irish companies and artists by presenting their work at strategically important global arts markets.
The Department of Jobs Enterprise and Innovation went to the market to secure an external provider, working with the Local government Management Agency (LGMA),
DJEI and relevant public bodies) 2015 ACTION PLAN FOR JOBS 57 3. 6 Local Enterprise Offices 2015 Action:
and commitment of additional staff in 2014, the focus has been on development of enhanced customer service (training, website, protocols with State bodies), seamless continuity of services (project supports/job creation, training
In addition LEOS have delivered a very successful competition to find Ireland†s Best Young Entrepreneur which gave rise to over 1, 000 applications for investment in new business projects from people under 30 years of age.
LEOS have also been engaged in many new actions emanating from the Action Plan for Jobs and the Entrepreneurship Policy Statement, for example via the delivery of Trading Online Vouchers.
and running the focus will continue to be on setting ambitious business targets, strengthened customer service and improved communications and promotion of LEO supports,
activities and successes. 2015 Actions Local Enterprise Offices 99 Continue to develop and promote the Local Enterprise Offices as the first-stop-shop providing advice and supports to entrepreneurs and new business in the micro and small sector.
EI, LAS, LEOS, DJEI, DECLG) 58 3. 7 Trading Online 2015 Action: Roll out of 2, 000 trading online vouchers (1, 450 in 2015.
It is an example of an effective partnership between DCENR, DJEI, Enterprise Ireland and the Local Enterprise Office (LEO) network.
however, less than 1 in 4 small businesses are selling to customers online. European commission research suggests that companies
â€oeby taking part in this voucher scheme it has helped us take stock of the overall direction of the business which has enabled us to identify new opportunities
Trading Online Vouchers (1, 450 in 2015) through the Local Enterprise Office Network. DCENR) 60 3. 8 Jobsplus 2015 Action:
Since its launch in the summer of 2013, over 2, 500 employers have availed of the opportunity to give over 3,
DSP) 2015 ACTION PLAN FOR JOBS 61 4. Finance for Growth The Government has identified clearly SMES as the lifeblood of our economy
The onset of the international financial crisis and the systemic problems within our national banking system, in conjunction with cultural payment issues have conspired collectively to create an extremely challenging environment for SMES in relation to accessing finance.
Across the OECD the outbreak of the 2008-09 global financial crisis profoundly changed the business environment for SMES
ï§The implementation of the Enterprise Ireland Development Capital Scheme Strategy; ï§The commitment by EI of â 99.5 million to a number of funds under its Seed and Venture capital Scheme (2013-2018;
ï§The review of the Microfinance Fund Ireland (MFI; ï§Participation by ptsb in the Credit Review Process;
ï§Transitioning of the NPRF into the Ireland Strategic Investment Fund (ISIF; and ï§The roll out of a National Information Campaign on Late Payments.
The support environment for SMES has also been enhanced by the establishment of the network of Local Enterprise Offices (LEOS.
As the economy moves into a new phase of growth there is now an opportunity to develop a policy agenda that addresses both cyclical and structural constraints in the financing of the SME sector and the continuing issue of the need for prompt payments.
and strengthen the linkages between enterprise capacity building, accessing finance and business guidance; ï§Deepen our engagement with international funding institutions;
or policy opportunities that may emerge during the course of the year. The establishment of the SBCI is a clear example of a more comprehensive and ambitious delivery over the initial Action Plan for Jobs commitment.
and demand for credit the effective implementation of its business plan and associated operational elements over the course of 2015 will be critical.
working closely with Enterprise Ireland, will have a key role in developing the finance products and platforms associated with a new integrated Export Finance Strategy that is being coordinated jointly by the Department of Finance and the Department of Jobs, Enterprise and Innovation.
Furthermore both of these key financing institutions have the potential to leverage additional private sector investment into the economy,
including the SME sector. Over the course of 2014, the Department of Finance collated and examined on a monthly basis granular data from both the Bank of Ireland and the AIB.
This has contributed to a more informed understanding of the SME bank lending environment and facilitated a stronger focus on new lending.
Additionally there is scope for the SME State Bodies Group to identify potential opportunities to combine initiatives so as to maximise their potential benefits to SMES. 64 2015 Actions Effective Implementation 102 Implementation of the SBCI
Business plan for SME lending over the course of 2015. SBCI) 103 The Department of Finance and the Department of Jobs, Enterprise and Innovation will roll out an integrated export finance strategy in 2015 with financing products
and platforms being developed by the SBCI and the Ireland Strategic Investment Fund (ISIF) in conjunction with Enterprise Ireland.
D/Finance, DJEI, SBCI, ISIF, EI) 104 Collate and monitor data, including Central bank data, on lending to SMES from both bank and non-bank sources, including the full range of state sponsored initiatives and report on this issue to the Cabinet Committee on Economic Recovery and Jobs twice yearly.
and examined, on a monthly basis ensuring a more informed understanding of the SME bank lending environment,
DJEI) 108 Survey the SME demand for credit. D/Finance) 4. 2 Communications †Raising awareness amongst SMES and Entrepreneurs of supports Raising awareness amongst SMES and entrepreneurs of the range of state funded supports that are available
remains an ongoing challenge for the public policy system. As such we will ensure a continued emphasis on implementing a comprehensive and integrated communications strategy involving the widest possible range of stakeholders in both the public and private sectors.
This will include a continuation of successful initiatives developed in 2014, namely: ï§Further enhance
and ï§Work with other agencies and representative bodies to develop tailored audience-focused information material. 2015 ACTION PLAN FOR JOBS 65 It is evident that effective communications need to be integrated from the outset
Equally, an effective communications strategy should also function as a mechanism for harnessing the views and experience of the SME sector in relation to
and industry partners†positive experiences of participation in state sponsored initiatives, notably the network of 31 Local Enterprise Offices.
and build trust in the policy development process. 2015 Actions Raising Awareness of Supports 109 Deliver the next phase of an integrated communication strategy.
DJEI) 4. 3 Engagement with International Funding Institutions Multilateral Development and National Promotional Banks Since 2012 there has been an emphasis on increasing our engagement across Government with both the European Investment Bank (EIB)
and the European Investment Fund (EIF) in developing and implementing mechanisms designed to maximise the provision of financing to SMES.
The establishment of the SBCI affords a clear opportunity for a deeper and more intensive collaboration with the EIB in particular and,
Closer co-operation with the EIB and EIF also provides a potential opportunity to develop initiatives that would support the SBCI€ s broader developmental mandate.
Similarly, building on its positive relationship with the German state investment bank Kfw, the SBCI will also continue to explore the potential for cooperation with other National Promotional Banks in seeking to enhance the funding environment for SMES in Ireland.
EU Financing There are also increased possibilities to access financial instruments under the current Financial Regulation of the EU Budget.
there would appear to be a great opportunity to maximise our engagement with relevant elements of the Multiannual Financial Framework,
SBCI, D/Finance, DJEI, EI) 4. 4 The LEOS Network †Enterprise Capacity Building SME skills and strategic vision are a key ingredient of any attempt
support and advice to micro and small businesses on access to finance issues. 2015 ACTION PLAN FOR JOBS 67 2015 Actions Enterprise Capacity Building 115 Explore how best to support SMES
there is a need to encourage firms away from the current high level of reliance on debt financing towards a greater use of equity to fund investment.
venture and growth capital in Ireland is above average in an international context. The ESRI suggests that in practice the scope to substantially increase the share of this type of funding may be limited.
and increasing the range of companies prepared to utilise it to finance investment. Indeed, the ESRI indicates that there are opportunities to expand the use of equity financing by the more domestically orientated cohort of Irish SMES.
In Budget 2015, the Minister for Finance outlined a number of key changes to the Employment
and Investment Scheme (EII) and the Seed Capital Scheme (SCS) that are designed to increase the usage of these funding mechanisms for SMES.
ï§Investment in the management and operation of nursing homes, medium-sized enterprises in non-assisted areas,
and internationally traded financial services that are certified by Enterprise Ireland, will now qualify under the scheme;
The Minister also announced as part of the Budget his intention to relaunch the Seed Capital Scheme as the new †Startup Refunds for Entrepreneurs Scheme†(SURE) in the coming months.
through Enterprise Ireland has made â 175 million available as part of the Seed & Venture capital Scheme (2013 †2018) to stimulate job creation and support the 68 funding requirements of young innovative Irish companies.
The overall vision of the Seed & Venture capital Scheme (2013-2018) is to increase the availability of risk capital for SMES to support economic growth through the continued development of the Seed
& Venture capital Sector in Ireland to achieve a more robust, commercially viable and sustainable sector.
Enterprise Ireland has committed â 99.5 million to a number of funds under this scheme. These funds are currently fundraising
and will target investment in the wider information and communications technologies and life sciences sectors of the economy.
A further call for expressions of interest under the Scheme will be issued in Q2 2015. The Development Capital Scheme, launched in 2012,
Enterprise Ireland made a total commitment of â 75 million to three fund managers under the Development Capital Scheme, MML Growth Capital Partners Ireland
Under the Innovation Fund Ireland Scheme Enterprise Ireland has invested in four funds alongside the NPRF/ISIF with the NPRF/ISIF also investing independently in a further number of funds.
It is recognised that developing a more robust and effective equity environment is a long-term structural change that will require an integrated set of actions designed to change the behaviour and culture of entrepreneurs
and crowdfunding can be a valuable source of funding to micro and small businesses either as a complement to traditional bank funding
or not sought in the first place. 2015 Actions Diversifying the Range of Financing Options for SMES 117 The ISIF to explore the feasibility of introducing a new SME Equity/Mezzanine Fund to provide capital to SMES.
ISIF) 118 Enterprise Ireland to work with the European Investment Fund to progress the establishment of a European Angel Fund in Ireland.
EI) 2015 ACTION PLAN FOR JOBS 69 119 The Department of Finance to work with the relevant stakeholders in raising awareness of the EII Scheme and promoting it as vehicle for channelling investment to grow enterprises and support employment.
D/Finance, DJEI) 120 Issue a competitive second call for expressions of interest under the Seed and Venture capital Scheme 2013-2018.
In part this will involve exploring how best to leverage the research capabilities within the public system through closer collaboration on specific projects with the Strategic Policy Division (DJEI) and the Economics and Tax Divisions in the Department of Finance,
but it can also refer to the purchase of goods on advances from customers. Trade credit is one of the most widely used sources of funding by Irish firms and the highest in the Eurozone.
For investment approximately 6. 1 per cent of firms used trade credit and it accounted for just over 58 per cent of total funds when used9.
The Department of Jobs, Enterprise and Innovation is responsible for monitoring legislation enacted to ensure Prompt Payment
The economic crisis has presented significant challenges across enterprise in Ireland, but for SMES in particular the issue of late payments is of critical concern.
Companies providing goods and services need cash flow certainty and are entitled to expect that their payments will be made in a timely manner.
The introduction of the PPC will continue the Government†s drive to get credit flowing in The irish economy by encouraging prompt payment for all business transactions.
The development of this portal is a joint initiative between the Department of Jobs, Enterprise and Innovation, The irish Institute of Credit Management (IICM), the main business representative bodies in Ireland (ISME, SFA
In previous recoveries economic growth was described as jobless, not because employment did not grow but because it took a long time for this growth in employment to translate into a commensurate reduction in the numbers of people on the Live Register.
and opportunities for young unemployed people and those who are unemployed long term; ï§Promoting employment supports;
and reform of the State†s public employment services to help ensure that the number of people on the Live Register is reduced as the economy recovers
and youth employability initiatives, including skills development and experiential learning opportunities for young people and the provision of valuable volunteer opportunities.
and the Youth Entrepreneurship Fund by facilitating links between local youth services and the Local Enterprise Offices/Microfinance Ireland.
DCYA) 132 Progress work on implementing the EU Recommendation on Recognition of Non-formal and Informal Learning in consultation with relevant Government departments and other stakeholders.
DCYA) 134 Continue to promote mobility and learning opportunities in the youth work sector and the take-up of EU funding mechanisms available such as the new Erasmus+Programme.
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Enterprise and Foreign Direct Investment From the onset, the Action Plan for Jobs has pursued an export-led approach to dealing with the jobs crisis
and services from firms based in Ireland provide the revenue to ensure those businesses thrive,
and contribute to the revenue allocated by the State to deliver vital services to our citizens.
and services have risen to a record â 184 billion in 2013 and we have continued to run current account surpluses over recent years.
Our strong growth in goods and services exports are being driven by sectors which we have targeted specifically as part of the Action Plan for Jobs,
which continued economic growth and sustainable employment creation across the country will be built. Enterprise Ireland supported companies created more than 19
000 gross new jobs in 2014, resulting in a net increase of almost 8, 476 in the Enterprise Ireland client base.
IDA Ireland, The irish Government agency responsible for attracting foreign direct investment, has reported the creation of 15,012 new jobs by IDA client companies during 2014.
When job losses were taken into account, the net increase in employment was 7, 131, one of the highest net levels of job creation in a decade.
Exports in Enterprise Ireland supported companies reached â 17.1 billion in 2013 and it is expected that the 2014 outcome may show further growth to â 18 billion.
and embed foreign direct investment here or our actions to strengthen and promote our world-class export base,
and Trade, oversees implementation of the Government Trade, Tourism and Investment Strategy (a Review of which was published in February 2014)
investment and education. 78 It reviews Local Market Plans which are produced annually for each of our 27 priority markets.
These Embassies and Consulates will provide a platform for further promotion of Irish exports, investment, tourism and education.
Public procurement will continue to provide an important opportunity in the domestic market for Irish companies,
with an annual spend by the Government sector of â 8 billion on goods and services.
Public procurement also provides an opportunity for innovative firms to win contracts which can serve as reference points for competing in overseas markets.
that in addition to taking decisive action on an annual basis, we now look over the longer term to set out the vision for Ireland†s enterprise policy over the coming decade.
and strategic actions needed to ensure that Ireland†s enterprise policy is sufficiently robust in the context of a changing competitive environment and intensified global competition for trade,
investment and people in order to deliver on Government†s ambition to have 2. 1 million people in employment in 2018
In 2015 this will include publication of a study on the economic opportunities and impacts
including sectoral effects, of a potential Transatlantic Trade and Investment Agreement (TTIP. Ireland†s enterprise policy will continue to be informed by independent and robust evaluations (ex-ante,
interim and ex-post) as relevant to ensure ongoing appropriateness, effectiveness and efficiency. The objectives for 2015 are to:
ï§Continue to implement the Government Trade, Tourism and Investment Strategy, the Africa Strategy and develop Strategies on Global Sourcing and Business Process Outsourcing;
ï§Develop Ireland†s national enterprise policy that will set the strategic direction over the next decade to 2025 and framework for action across Government;
ï§Publish a new IDA Ireland Strategy to grow foreign direct investment over the next 5 years;
The strategy will outline the key actions required to ensure that the agri-food sector maximises its contribution to economic growth and exports in an environmentally sustainable manner over the coming decade,
ï§Work to increase SME awareness of public procurement opportunities and identify further measures to assist public sector procurement;
and 2015 ACTION PLAN FOR JOBS 79 ï§Continue to develop the coordinated approach to international reputation-building efforts across Government. 2015 Actions Growing Irish Enterprise
and FDI 136 Implement the Enterprise Ireland Strategy to target the creation of 13,000 new fulltime permanent jobs
EI) 137 Publish the Independent Study on economic opportunities and impacts, including sectoral effects of a potential Transatlantic Trade and Investment Agreement.
DJEI) 138 Potential Exporters: Hold 9 Potential Exporter Awareness Events and 9 Potential Exporter Workshops across the country and target over 700 companies to have significant engagement with the EI Potential Exporter Division.
EI) 139 Implement the Review of the Government Trade, Tourism and Investment Strategy, published in February 2014.
and use such initiatives as the Africa Ireland Economic Forum to identify new opportunities for investment
DFAT, DJEI, DAFM, EI) 141 Progress implementation of the agreed Global Sourcing Strategy across Enterprise Ireland and IDA Ireland to increase global sourcing sales by EI
investment and education events focused on key target markets, including exploratory and high potential markets as defined under the Review of the Trade, Tourism and Investment Strategy.
A substantial number of these missions and related events will be led at Ministerial level. DFAT, DJEI with relevant Departments and agencies) 80 145 Enterprise Ireland to develop a series of collaborative initiatives to drive exports and investment in priority markets in partnership with IDA Ireland, Bord
Bia, Science Foundation Ireland and the Department of Foreign affairs and Trade. EI, DJEI, DFAT) 146 Implement a targeted programme to attract senior level key Inward Buyer Visits from key companies to match Irish supply capability in key sectors.
IDA) 149 Roll out the delivery of Winning Abroad (see earlier section 3. 4).(IDA) 150 Work to win another 160 new FDI investment projects in 2015.
IDA) 151 Continue to win investments from High Growth and Emerging Markets together with new forms of FDI, the focus
and report on recommendations to increase foreign and domestic investment in Ireland†s film and TV sound stage studio infrastructure-and thereby increasing jobs-in the face of growing demand for audiovisual content across multiple platforms.
DAHG, DJEI, D/Taoiseach with relevant agencies, including IDA, EI and IFB) 153 Continue to develop the coordinated approach to international reputation-building efforts across Government,
including through the regular updating of key messages on Ireland†s economic progress and trade, tourism and investment strengths and their communication by Ireland†s Embassy Network.
and support to Enterprise Ireland supported companies and research institutions in the defence and security sector in the area of research and innovation (D/Defence) 155 Include the needs of family owned businesses
more clearly in Enterprise Ireland Client Management Development Offering. Establish a family business cohort within the new †Platform 4 Growth†2015 programme to share best practice
and implement four new market initiatives to target specific end-market opportunities matched to The irish supply capabilities.
EI) 158 Work to increase SME awareness of public procurement opportunities. EI) 159 Support Irish companies seeking to participate in procurement overseas through engagements for SMES with International Financial institutions.
Enterprise Ireland and Inter-trade Ireland through the SME working group to identify further measures to assist public sector procurement.
DPER/OGP) 161 Develop metrics to assess the market during the procurement process to improve future procurement competitions.
. ie to inform SMES of opportunities that will arise during the year. DPER/OGP) 163 Transpose the EU Public Procurement Directive and the EU Utilities Directive.
DPER/OGP) 164 Grow the capacity and capability of Irish enterprises to successfully tender for public procurement contracts,
and training agencies to assist in identifying procurement opportunities that are suited best to facilitating social clauses aimed at reducing long term unemployment
and improving access to training opportunities in disadvantaged areas. DPER) 166 Examine ways of improving the supply of innovative products and services, where appropriate, in public procurement.
EI, DJEI in consultation with relevant Departments and agencies) 167 Develop Ireland†s national enterprise policy that will set the strategic direction over the next decade to 2025 and framework for action across Government.
DJEI) 82 168 Develop an overarching synthesis report encompassing the range of evaluation of agency programmes to inform
DJEI) 169 Continue to undertake independent evaluations of enterprise agency programmes and initiatives including, for example,
creative co-production feature film opportunities for 5-10 creative co-productions. Overall, over 40 projects will be supported,
Foras na Gaeilge) 175 Continue to support the expansion and development of an international aviation services centre at Shannon.
and regulatory matters delivered through the Enterprise Development Agencies, Industry and Business Associations, and the Local Enterprise Office (LEO) network.
NSAI) 2015 ACTION PLAN FOR JOBS 83 177 Commencing 2015 the NSAI will implement a 3 year development strategy with objectives to develop:
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. 6 in this 2015 ACTION PLAN FOR JOBS 85 7. Entrepreneurship Central bank research shows that startup companies in the first five years of existence account for two thirds of all new jobs
Entrepreneurs are heroes of the economy, creating businesses, jobs and growth, and Ireland has some amazing entrepreneurs,
The Government†s National Policy Statement on Entrepreneurship in Ireland was launched in October 2014 and sets out the Government†s strategic objectives as a facilitator within The irish entrepreneurship ecosystem, covering the six
Under each objective we shall identify key benchmarks and develop actions with public agencies and private actors in the field to deliver continuous improvement. 7. 1 Progressing the National Policy Statement on Entrepreneurship The six key elements that make up the ecosystem for entrepreneurship in Ireland are:
ï§Culture, human capital and education; ï§Business environment and supports; ï§Innovation; ï§Access to finance;
ï§Networks and mentoring; and ï§Access to markets. For the entrepreneurship environment to be truly effective,
these six elements must be mutually reinforcing, forming a coherent whole and supporting entrepreneurs throughout the entrepreneurship lifecycle.
Actions to support the entrepreneurship environment in 2015 include a pilot of a new Entrepreneur Partnering Programme scheme
which is being designed for a region to match entrepreneurs with host enterprises, where they can hothouse their ideas
and businesses for a period of up to one year, benefiting from the expertise and guidance of the host business.
DJEI, through its agencies EI, the LEOS and IDA Ireland will seek to match experienced business leaders
ï§Progress the actions from the National Entrepreneurship Policy; ï§Utilise the New Frontiers Programme optimally to support emerging entrepreneurs;
and ï§Develop an action programme of support for pre-investment HPSUS. 2015 Actions Culture,
Human Capital and Education 178 Broaden and deepen work to support entrepreneurship in schools. DES) 179 Examine the Entrepreneurship in the Schools activity in each LEO area
and develop strategies to increase participation and impact. EI, LEOS, DJEI) 180 Continue to support female entrepreneurship via promotional and support programmes.
EI) 181 Ireland†s Best Young Entrepreneur: Building on the successful launch and response to the IBYE (Irelands†Best Young Entrepreneur) Programme during 2014, assess the impact
and outcomes and develop an appropriate 2015 Programme. EI/LEOS) 182 Student Enterprise Award: Building on the successful 3rd Level Student Enterprise Award Programme target a greater number of student participants (Target 500)
and enhance the quality of the applications contributing to a greater Entrepreneurial spirit in this student cohort.
EI) 183 Support entrepreneurship by training more scientists in SFI supported research teams to launch their own businesses and supporting translation of research to commercial opportunities.
SFI) 184 Develop a new, disruptive, societal impact scheme including public consultation on topics to be funded.
SFI) 185 Map relevant entrepreneurship activities in higher education institutions as part of the overall strategy for higher education engagement with enterprise and embed entrepreneurship support within the HEI System Performance Framework.
DES, HEA) 2015 ACTION PLAN FOR JOBS 87 186 Develop an enterprise engagement strategy for higher education to include entrepreneurial education as an important part of the national framework for enterprise engagement.
HEA) 187 Set out performance indicators and measures to benchmark entrepreneurial activity in Irish higher education. DES, HEA) 188 Work with the Department of Social Protection to promote the Back to Work Enterprise Allowance,
and support these startups with appropriate interventions e g. mentoring, micro-loans. EI, LEOS, DSP) Business Environments and Supports 189 Support 130 new Entrepreneurs via the New Frontiers programme.
EI) 190 Provide business development and financial supports to 185 High potential and early stage Startups.
EI) 191 Each LEO will identify how it can facilitate hubs where startups can be established in a supportive network before moving on to accommodate for the next cohort of emerging enterprises.
A key approach will be to build on the 100+Community Enterprise Centres across the country by implementing local protocols to ensure the LEOS are integrated fully into the enterprise development plans of each county.
EI, LEOS) 192 The Centre of Excellence in Enterprise Ireland will develop a competitive fund to promote innovation within
and across LEO€ s to enhance the support environment for startups, with a particular emphasis on regions that have struggled to achieve employment growth.
Enterprise Ireland will also publish a report each year on the startup environment across the LEOS network, identifying areas of excellence and areas for improvement and innovation.
match founders and startups with leading enterprises in a region, which will act as hosts and mentors for up to one year to bring budding businesses to the next level of success. EI, LEOS, IDA,
Bord Bia, EI, Teagasc) 88 195 Develop a joint strategy for the positioning of Ireland to take advantage of new opportunities in the Electronic Payments sector,
so as to support innovation, entrepreneurship and attract mobile investment. EI/IDA) 196 Examine the Advisory Group on Small Business (AGSB) recommendations from December 2014
which can serve the basis of new spinout company opportunities in Ireland. EI) 199 Develop an action programme of support for pre-investment HPSUS.
EI) 200 Develop an action programme of support for scaling post-investment HPSUS. EI) 201 Promote Ireland internationally as a startup location
and attract 15 new overseas startups to establish their business here. EI) 202 Drive the establishment of 15 research spin out companies that are of EI HPSU quality.
EI) 204 In collaboration with the European space agency manage the initialisation of the European space agency (ESA) Incubator. EI) 205 SFI will target 34 licences and 6 spinouts from the twelve SFI Research Centres in 2015.
à nag) 207 Develop advanced property solutions for innovative companies seeking to move from the incubator phase to market.
including Life sciences & Food as well as further property solutions for Business Support Services and Creative Enterprises.
EI) Networks and Mentoring 213 Increase the level of startup support in Ireland by supporting commercially managed accelerators.
Bord Bia) 90 216 Implement a structured programme to support new HPSU€ s to access new overseas markets and customers.
EI) 7. 2 The Startup Gathering †5 Days †5 Cities †5 Industries A national week of events promoting entrepreneurship
which will be led by the not-for-profit organisation Startup Ireland as a key building block towards making Ireland a global startup hub by 2020.
and projects that are themed around entrepreneurship, startups and existing industry clusters present in each city.
The five industries will be those †strength in depth†sectors currently located in Ireland namely ICT, Medical Devices, Biopharma, Agri/Food and Business Services.
and networking opportunities nationally during the week for at least 15,000 members of The irish public and international visitors thereby creating the conditions for the creation of at least 2, 500 new jobs in the following 12 months.
Engaging the Nation Through a national call for events and projects in the area of entrepreneurship,
commercial attaches at embassies, professional services providers (accountants, lawyers, patent agents), innovation managers at large corporates, investors, State enterprise support agencies and mentor/angel investors).
a national †Startup Demo Day†where national and international startups can pitch to Ireland†s top accelerators, investors, mentors and corporates, both national and international,
Existing annual state supported entrepreneurship and innovation events and †Entrepreneur Career Fairs†and †Diaspora Networking Events†will be aligned with the timing of Startup Gathering week where possible and appropriate.
The week will end with a State Dinner on the theme of †Why invest in Ireland†s startup sector†hosted by the Minister for Jobs, Enterprise & Innovation.
The international invitees will be from strategic target areas such as venture capitalism, corporate venturing, corporate backed accelerators, intern programme placement managers.
Building on the relationships and networks created by †The Gathering 2013â€, Startup Ireland will leverage its stakeholder partnerships
and its national and international network to coordinate and promote the Startup Gathering, with support from relevant state agencies.
Startup Ireland will lead an international Kickstarter campaign to raise a †Diaspora Startup Fund†to support the flights to Ireland of 50 Irish emigrants for the Startup Gathering to investigate pursuing their startup opportunity back in Ireland.
Maintaining Momentum towards Ireland become a global startup hub The medium term impact sought from the Startup Gathering is the creation of a significant improvement in the framework conditions supporting high impact entrepreneurship in Ireland.
which are stated in the National Entrepreneurship Policy Statement. The Key objectives of The Startup Gathering are as follows:
ï§In an increasingly competitive international environment for securing startup hub status the Startup Gathering will help differentiate Ireland internationally thereby increasing international inward engagement with Ireland†s startup sector;
and increase partner opportunities for Ireland†s state supported Research Centres; ï§The Startup Gathering Census will produce an online internationally visible map that will increase the international visibility of Ireland†s startup sector
and suggest constructive solutions to help improve framework conditions for entrepreneurship in Ireland; ï§The Startup Gathering website will provide a signposting of resources and supports available to entrepreneurs in Ireland thereby improving accessibility to Ireland†s innovation system;
and stimulate a strong culture of high quality entrepreneurship; ï§To promote Ireland as a destination for startup tourism with international delegations coming from around the world for the week of the Startup Gathering;
ï§To create culture change by providing the opportunity for students to learn by doing by participating in relevant events and meeting international entrepreneurs;
and ï§To attract ICT professionals from around the world that are interested in the startup opportunities offered by Ireland as a hub for technology startups.
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developing our enterprise base, and improving access to finance. This APJ addresses these issues across the entirety of this Plan not just in this section.
investment in infrastructure to underpin economic growth, enhancing firm level productivity, decreasing the costs of doing business,
and does not necessarily require investment. In fact, streamlining administrative process for businesses can simultaneously reduce overheads for public bodies
This highlights the merits of focusing on improving the environment for businesses, particularly in their engagement with public bodies.
the new e-services to be delivered for motor taxation and financial statements can improve almost 40,
sensible steps across the public sector that we can continually improve the operating environment for hundreds of thousands of employers across the country, making business easier, cutting costs,
and enhancing the environment for job creation. 96 2015 Actions Take steps to reduce the red tape for over half a million business interactions in 2015 219 Roll out the new National Post Code system
DSP) New e-Services to Make Business Easier 221 Incorporate provision in the forthcoming Planning Bill to allow planning authorities and An Bord Pleanã¡
lower cost and enterprise friendly system for the licensing of petroleum storage and dispensing facilities.
This should help stimulate the economy by providing certainty to those seeking to invest in new
The Minister for Jobs, Enterprise and Innovation further strengthened the mandate of the National Competitiveness Council,
Government undertook to focus on competitiveness in all areas of economic activity. This is aimed at enhancing Ireland†s competitiveness, particularly in the area of costs,
D/Taoiseach, All Departments) 247 Benchmark key business costs and publish a report highlighting areas where Irish enterprise costs are out of line with key competitors.
NCC) 8. 3 Infrastructure Investment to Underpin Employment Growth The NCC assessment is that our infrastructure still lags other countries
The NCC highlight in particular the importance of investment in telecommunications, transport, energy and waste management.
The Government has used the opportunity to hold overall spending steady and make some targeted increases in areas of priority.
This investment will be across government, in support of social and economic infrastructure that will support direct employment through construction related activity,
Investment Area â million Agriculture, Food & the Marine 198 Arts, Heritage & the Gaeltacht 62 Children & Youth Affairs 35 Communications, Energy & Natural resources 89
Defence 66 Education & Skills Group 568 Environment, Community & Local government 494 Finance Group 24 Foreign affairs & Trade 5 Health Group 382 Jobs
Enterprise & Innovation 489 Justice Group 107 Public Expenditure & Reform 137 Social Protection 25 Transport, Tourism & Sport 938 Total Gross Capital
Investment in 2015 â 3, 619 million Great Place to Live and Work Such investment in capital projects can have an immediate employment impact by way of jobs in the construction sector and related activity,
as well as supporting the longer term competitiveness of the economy. In addition, much of this capital spend will help make Ireland a better place in
which to live and work. For example, in 2015 we will: ï§Invest â 530 million in capital funding in 2015
which includes the delivery of an additional 16,000 permanent school places for primary students and 3, 000 permanent school places for second level students.
The investment will also support the provision of enhanced or replacement facilities for 2, 000 primary school students and 4,
minor investment to increase capacity to address congestion in our cities, most notably LUAS Cross City in Dublin and other low-cost public and sustainable transport improvements,
and seek to maintain the competitiveness gains made through past investment. ï§Invest â 42 million in Sport,
Ros Muc and other investments as part of the Ireland 2016 programme, the refurbishment of the National Gallery, support for the film
since 2010, tackling barriers to investment in high growth sectors is vital to support real and sustainable productivity growth leading to increased employment. 102 The ramping up of world trade as we emerge from the global economic crisis presents the potential
for Ireland†s productivity performance to be boosted by the increased competition and the diffusion of technology and skills.
for example enhancing the weak growth levels in net capital stock particularly with regard to investment in machinery and equipment.
ï§Develop the management capability of Irish enterprises; and ï§Encourage adoption of ICT to enhance firm level productivity. 2015 Actions Enhancing Firm Level Productivity 248 Support 760 participants on short course Management Development Programmes
and transformation of foreign subsidiaries in Ireland provide IDA clients with access to significant Enterprise Ireland Management Development Programmes.
productivity and competitiveness improvements and facilitate access to emerging international opportunities. EI) 254 Embed graduates in international markets for Enterprise Ireland clients to help them to internationalise
and grow their business in new or existing markets through the Graduates 4 International Growth Programme (G4ig).(
EI) 8. 5 Supporting Competitiveness through Corporate Social Responsibility In the post-recession period, there has been increased an awareness amongst businesses and their customers of the importance of enterprises acting in a responsible manner.
Corporate Social Responsibility (CSR) is concerned with the impacts an enterprise has on its stakeholders, the environment,
Increasingly, good CSR practices are distinguishing the best companies from their competitors by the manner in which they engage with their customers, suppliers, employees and local communities.
social capital, Corporate Social Responsibility and corporate governance, and the role that these factors play in the competitiveness agenda.
Customers and prospective employees are more conscious than ever of the ethical record of companies. 40 per cent of job seekers read a company†s sustainability report,
A Stakeholder Forum was established to progress the objectives of the Plan and the vision that Ireland will be recognised as a Centre of Excellence for responsible and sustainable business practice through the adoption and implementation of best practice in CSR in enterprises and organisations as widely as possible.
The 2015 Action Plan will build on the progress made in 2014 and we will continue to raise the profile of CSR as a means of improving competitiveness at enterprise level
while also making a meaningful contribution to the communities in which businesses operate. 104 255 Through the CSR Stakeholder Forum
and its subgroups, progress the objectives of the National Plan on CSR, and specifically: ï§Develop an awareness campaign to increase awareness of CSR and its value to business and to society;
ï§Encourage enterprises to develop and implement CSR policies and practices; ï§Develop CSR resources tailored to the need of SMES;
DJEI, CSR Stakeholder Forum) 8. 6 Decreasing the Cost of Doing Business Generating sustainable broad based export-led growth is essential to rebuilding The irish economy.
Low rates of inflation (or possible deflation) across the whole euro area increase the difficulty of extending improvements in cost competitiveness through price reductions.
and international economic downturns rather than being driven across the broad economy. The Council has stated that The irish economy has reached a turning point in terms of cost competitiveness.
As previously emphasised by the Council, further structural or policy induced changes are necessary to ensure that prices do not escalate
and erode competitiveness as The irish economy returns to stronger rates of growth. The key issues raised by the National Competitiveness Council include:
and ï§An upward trend is evident across a range of business service costs. 2015 ACTION PLAN FOR JOBS 105 Energy efficiency The Department of Communications,
Energy and Natural resources is pursuing the energy efficiency agenda across all sectors of the economy. A number of important landmarks were achieved over the lifetime of previous Action Plans,
including the launch of the Energy efficiency Fund, the establishment of the National Energy Services Framework as well as a comprehensive suite of supports for commercial and public sector bodies.
In 2014, the Minister for Communications, Energy and Natural resources published Ireland's National Energy Services Framework (NESF) which supports the rollout of energy performance contracting (EPC) to public and commercial facilities across the country.
This Framework is aimed at developing robust projects that are investment-ready, stimulating the development of a market for Energy Services Companies (ESCOS) and supporting sustainable employment in construction and professional services.
The Framework provides guidance on routes to project development together with sources of finance and the support available from SEAI to help develop projects in the public and commercial sector.
The key aim of the Framework is to encourage the development of robust projects which are investment-ready for financing entities (such as the National Energy efficiency Fund.
000 or more, to go to the market to identify solutions for the delivery of energy reduction services.
The Energy efficiency Fund was established in early 2014 with the primary objective to address one of the predominant barriers to economic activity in the sector †the availability of credit that is structured properly and of appropriate term.
This financing gap is being experienced across all sectors of the economy, not least the public sector. The Fund is established with investment from the Government, Glen Dimplex and London and Regional Properties.
The Fund is regulated by the Central bank. The first deal was closed by the Fund in 2014.
ï§Review and update the National Energy Services Framework; 106 ï§Further progress the Valuation (Amendment) Bill providing for, in certain circumstances, self-assessment of valuation by occupiers;
and ï§Place downward pressure on legal costs via the new Legal Services Regulatory authority. 2015 Actions Decreasing the cost of Doing Business 256 Encourage local authorities to exercise restraint in adopting the Annual rates on Valuation (ARVS) for 2015, a reserved
DCENR) 258 Invest â 3. 619 billion Public Capital Programme in 2015 to make doing business easier,
DCENR) 260 Review and update the National Energy Services Framework. DCENR) 261 Ensure swift progress of the Valuation (Amendment) Bill.
DTTAS) 263 In order to ensure legal business models are informed better, better established, better operated, better regulated, better for consumers and enterprise and better for the economy,
ï§Resume Report Stage of the Legal Services Bill in the Dáil; and ï§Complete legislation for the new Legal Services Regulatory authority to become operational.
D/Justice and Equality) 264 With the Film Board, the Department of Arts, Heritage and the Gaeltacht is continuing to work to create a more competitive environment to grow the film,
television and audio visual content production sectors here and advance the targets set in the Creative Capital Report adopted by Government in 2011.
DAHG) 2015 ACTION PLAN FOR JOBS 107 8. 7 Regulating for a Better Future Good quality regulation is central to continuing economic recovery
are reflected in the 2015 Action Plan on Jobs. 2015 Actions 265 Continue the implementation of actions outlined in the Government Policy Statement on Economic Regulation in the Energy, Communications and Broadcasting sectors.
Innovation support makes a critical contribution to enterprise policy, and to the goal of developing a competitive national economy, through the stimulus given by innovation to high value economic activities and jobs.
By encouraging the development of new economic activities RD&I policy measures strengthen Ireland†s competitive advantage and build potential new areas of economic activity.
Ireland has a diverse range of policy measures in support of enterprise innovation for both indigenous firms and multinational companies.
Many of these measures are established now well and have helped to increase RD&I activity and investment.
Research prioritisation has aligned publicly funded research around 14 priority areas that are most likely to deliver economic and societal returns.
More importantly the Research Prioritisation Action Group has undertaken a significant exercise to understand enterprise research needs within the priority areas
In the interim, resource constraints and the economic downturn nationally and globally meant that, de facto, policy has been focused mainly around four core strategic policies:(
and international) to maximise return on investment and to optimise success under EU Framework programmes,(d) facilitating the translation of knowledge and the transfer of technology into jobs.
in light of a more optimistic economic outlook, there is now an opportunity to set them in context
Enterprise & Innovation is convening an Interdepartmental Committee representative of all key Government departments tasked with developing a successor to the Strategy for Science,
and support of effective research that produces outputs of maximum impact for Ireland†s economy and society.
and research institutions valuable opportunities to participate in high-calibre research collaborations with our European counterparts.
Based on national investment in research in recent years, Ireland is participating in EU Programmes from a far stronger position than ever before. 110 A critical mass of research activity has developed in both the public and private sectors
Given this ambitious target and the increased level of competition for these funds it will be necessary for all stakeholders
Enterprise Ireland will support 825 Industry-Led Collaborative research projects and 12 major food and drink innovation investments.
To support demand driven innovation the SBIR will be expanded to two new contracting authorities. The objectives for 2015 are to:
ï§Increase the level of innovation performed by enterprise; ï§Increase the level of collaboration between enterprise and academia;
ï§Support knowledge transfer between enterprise and public research performers; ï§Mobilise the system to develop
and win larger scale H2020 grants; ï§Enhance the availability of world class research and STEM skills in Ireland;
and ï§Develop the enabling infrastructure to translate RD&I into improved products and services, both public and private. 2015 Actions Increasing the levels of RD&I 266 Continue to drive implementation of Research Prioritisation through the Government†s Prioritisation Action Group
DJEI) 268 Develop directory of innovation supports to make our offering clear to enterprise. DJEI, EI, IDA, SFI) 269 Support 825 Industry-Led Collaborative research projects.
EI) 275 Establish a Network for all Enterprise Ireland funded Technology Gateways in order to better meet industry needs.
and capacity in key areas of opportunity or need including Sustainable Food, Energy and Manufacturing to improve Irish competitiveness.
and marine biotechnology research/industry stakeholders and establish links with the wider food research/industry community including Food for Health Ireland.
IRC) 286 Explore joint funding opportunities with UK funding agencies, including Research Councils UK, the Department for Environment, Food & Rural affairs UK, and others.
This action will build complementary research competence for Ireland and Irish companies. SFI) 287 Engage with relevant industry sectors and public sector bodies to maximise the downstream commercial opportunities of the EU Copernicus Programme.
EI) 288 Building on the experience with previous co-fund applications, The irish Research Council will submit a co-fund application under the Marie Skå odowska-Curie Action aimed at Postdoctoral researchers.
and micro-businesses in the IRC Enterprise Partnership Scheme (EPS) and thus cultivate enterprise focused researchers in the formative years of their research careers.
Stimulating the Domestic Economy The preceding sections outlined the measures the Government will take in 2015 as part of our continuing export-led approach to employment generation.
The most obvious manifestation of this was the launch in 2014 of the nationwide system of Local Enterprise Offices (LEOS.
and therefore did not qualify for Enterprise Ireland supports, fell through the cracks between different agencies.
As a result of Action Plan 2014, this is no longer the case. 2014 saw other supporting measures for the domestic economy such as the launch of Construction 2020, a strategy for a renewed construction sector
and sustained in local businesses as essential elements of our communities and domestic economy. Whether operating in agri-food, tourism, retail or construction,
these important firms will be supported over the next twelve months in a variety of ways ranging from direct investment,
and industry leaders, with assistance from state enterprise agencies, have made strategic capital and capability investments in growth areas such as dairy,
In the dairy and whiskey industries alone, investment plans of up to â 600 million are being pursued actively by industry leaders,
while in 2013, Enterprise Ireland invested â 203 million in capacity, innovation and equity ventures to allow agri-food companies become more agile in order to secure export sales on global markets.
The 2025 Agri-Food Strategy will set out the key actions required to maximise the contribution of the sector to economic growth
The proposed measures for inclusion in the draft RDP were designed on the basis of extensive preparatory analyses and extensive stakeholder consultation over a period of 18 months.
ï§a substantial new Agri-Environment Scheme (GLAS; ï§continued strong support for Areas of Natural Constraint (formerly the Less Favoured Areas Scheme;
ï§significant support for on farm capital investment; ï§a range of knowledge transfer measures;
which is a clear statement of the Government†s commitment to continued investment in rural Ireland. 2015 Actions Agri-food 295 Enterprise Ireland to support 28 significant food and drink
industry investments, five of which will be FDI projects. EI) 2015 ACTION PLAN FOR JOBS 117 296 Enterprise Ireland to introduce a new Graduate Development Programme with a target of 10 graduates into the Food SME sector to improve company
financial and technical capability. EI) 297 Work with the industry to implement a new beef genomic scheme.
and Investment Missions to boost exports to priority markets and attract additional inward investment. DAFM and EI) 299 Implement the new Seafood Development Programme 2014-2020 (EMFF.
DAFM) 300 Attract graduate talent into the sector through the Bord Bia Marketing Fellowship and Strategic Growth Programme to improve export sales.
DAFM) 307 A trade marketing campaign targeting current and new customers for Origin Green suppliers will be escalated in Europe to enhance the reputation of Irish food on global markets showcasing Irish leadership on sustainability and building
Bord Bia) 309 Sustainable Food Systems Ireland will identify opportunities and develop commercial project proposals, with the relevant government agencies,
to address requests for assistance in the Agri-food sector from international customers including government agencies, international organisations or international private sector companies.
and EU level with the banks to respond to price volatility in the dairy and other commodity sectors.
ï§Provide opportunities to develop new products and services, for example in the marine technology and biotechnology area;
and ï§Offer spectacular tourism and leisure opportunities and a rich maritime culture and heritage. 2015 ACTION PLAN FOR JOBS 119 The direct economic value of Ireland's ocean economy
and will aim to promote investment, jobs and growth in the sector. Specific details and updates on the implementation of HOOW are provided on www. ouroceanwealth
Given Ireland†s small population, the nation is heavily dependent on the exporting sectors to generate the level of economic activity required to maintain our living standards
Tourism is a services export, and in order to maximise this, the primary focus of the Government†s new Tourism Policy Statement †â€oepeople, Place and Policy †Growing Tourism to 2025†is on growing overseas tourism.
including a programme of trailway development in National parks and Nature Reserves, in partnership with key stakeholders.
DAHG, UCD, DCU) 2015 ACTION PLAN FOR JOBS 121 10.4 Retail The Wholesale and Retail sector accounts for the largest share of employment in The irish economy, with approximately 270,000
The Government†s Statement of Priorities up to 2016 stresses the importance of supporting the recovery of the domestic economy to create jobs,
and should have clear benefits for all sectors of the economy, and in particular for Retail.
The Joint Oireachtas Committee on Jobs, Enterprise and Innovation will publish a report on Town Centre Retailing in 2015
CCMA, DJEI) 326 Ensure that the situation of the retail sector is considered in the development of Regional Enterprise strategies,
) through the Local Enterprise Office Network (see also Section 3. 7).(DCENR, LEOS, DJEI) 329 Roll out the National Post Code system
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It is also an essential part of the Government†s effort to return the economy to full employment in 2018.
and ensuring a highly skilled workforce and opportunities for construction jobseekers. We have made good progress to date.
and 126 ï§An examination of and report on the availability of development finance-the Ireland Strategic Investment Fund (ISIF) under the auspices of the NTMA is exploring ways, through its commercial mandate,
and work in these inner city locations. 2015 Priorities We have made strengthening the domestic economy and prioritising new jobs for the unemployed a particular priority for this Government.
The Housing Supply Coordination Task force for Dublin will continue its work in support of increased supply in the Capital.
competitive and sustainable construction sector, capable of contributing to economic growth and job creation, and equipped to meet the future infrastructure needs of the country,
and interpretative centre at the GPO, the development of visitor facilities at Teach an Phiarsaigh, Ros Muc and other investments as part of the Ireland 2016 Programme.
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Nevertheless, all economies must be aware of and adjust to global trends, and the challenges and opportunities that they present.
These trends, sluggish global economic growth, and elevated levels of debt and unemployment at home, all increase the importance of developing new sources of economic growth.
Action Plan for Jobs looks to the future to ensure that steps are taken now to prepare a path for further progress.
For example, rapidly ageing populations combined with natural resource constraints mean that growth in advanced economies will increasingly depend on productivity-raising innovation.
Specific opportunity areas identified include Smart Ageing, Design, Financial services, the Internet of things, Additive Manufacturing, the Green Economy,
and Bioprocessing Research and Training. While there are many broad based and sector specific policies and initiatives throughout the Action Plan for Jobs to help Ireland†s enterprise base respond to opportunities,
this section sets out specific activity for these new and emerging sources of economic growth where early,
targeted Government-led initiatives can lay the foundations for sustainable progress over the short to medium-term. 11.1 Smart Ageing Smart Ageing is defined as using technology and innovation in both the public and private sectors
to produce products, services, solutions and systems to improve the quality of life of people aged 50 and over.
Ireland†s opportunity in Smart Ageing was identified as a key priority through the Global Irish Economic Forum 2013
and was identified subsequently as one of 11 sectoral opportunities in the Action Plan for Jobs 2014.
An Interdepartmental Steering Group chaired by the Department of the Taoiseach was established to agree the approach to be taken in relation to Smart Ageing in Ireland and the Department of Jobs, Enterprise and Innovation
and to identify Ireland†s strengths and opportunity areas. The group will report with an assessment of opportunities
and next steps. 2015 Actions Smart Ageing 342 Bring final report and proposed action plan to develop the Smart Ageing opportunity areas for Ireland to Government for approval.
D/Taoiseach, DJEI and Interdepartmental Steering Group) 11.2 Growing Sales Through Leadership in Design The Government has designated 2015 the Year of Irish Design.
It represents an opportunity to promote and develop further Ireland†s 2015 ACTION PLAN FOR JOBS 131 capabilities in business-related design across all sectors of the economy
and to improve capacity for quality design across the enterprise sector. In particular design is critical to success in new and emerging sectors like medical devices
ICT, gaming, mobile communications and media. Reflecting the excellent opportunities which the design sector represents for growth and further employment,
the Government is supporting ID2015 as an outcome of the Global Irish Economic Forum at the end of 2013.
ID2015 is being convened by the Design & Crafts Council of Ireland (DCCOI), in collaboration with partner organisations, on behalf of the Department of Jobs, Enterprise and Innovation, the Department of Foreign affairs and Trade and Enterprise Ireland.
Given our talent and reputation for creativity, Ireland has the ability to be a leader in design,
and encourage investment in design by businesses in order to increase competitiveness; and ï§Leave a legacy to build on these aims over the longer term.
Through APJ 2015 we will broaden out initiatives in design to encompass the broader enterprise base.
ï§Generate 200 new design enterprises established in 2015; ï§Generate an additional â 10 million in design-related exports in 2015;
clusters and incubators across the island of Ireland to stimulate economic growth and encourage investment and collaboration in the design sector. ï§Create a startup investment platform for creative industry entrepreneurs,
aimed at accelerating some of the country†s most promising designers from a range of design disciplines. 132 ï§Support a series of cross-sectoral collaborations leading to new product development
and markets through facilitating design teams to work with businesses across a broad range of sectors from multinationals to SMES on action-based projects that demonstrate the value and impact of design in business growth,
with a pilot in specific sectors such as the built environment or engineering. ï§Create a national Design Development Programme for innovative design organisations,
This will include an initiative to incorporate Design and Enterprise into science, technology, engineering and mathematics (STEM) education. ï§Undertake sectoral
and targeted trade and investment missions in alignment with Enterprise Ireland†s programme of events.
maximising the potential for increased sales and exports. ï§Establish an international trade fund which will be available to enterprises to fund the full spectrum of design disciplines to access international markets. ï
DCCOI, ID2015) 344 Deliver an international programme of events presenting Irish design in international capitals of design and commerce,
and investment missions and supported through an International Trade Fund to assist Irish designers and makers in accessing international markets.
DCCOI, ID2015) 345 Promote enterprise opportunities in universal design working with key stakeholders including NSAI, professional bodies, education sector and industry.
National Disability Authority) 346 Develop a series of National Design Enterprise and Education initiatives including design hubs, design networks, startup and investment platforms,
cross-sectoral collaborations, design challenges and funded design development programmes. DCCOI, ID2015) 2015 ACTION PLAN FOR JOBS 133 347 Establish a Steering Group of relevant Stakeholders to evaluate the design
and craft sector with a view to devising a Strategy for the sector. DCCOI, ID2015, DJEI) 348 Devise a strategy to ensure longer-term development of the design sector and business investment in design as part of the legacy of ID2015.
DCCOI, DJEI) 11.3 Developments in Financial services With over 35,000 people employed across the IFS industry throughout Ireland this is a valuable sector to The irish economy.
These jobs are spread across Funds, Asset management, International Banking, Insurance and Reinsurance, Aircraft Leasing, Payments, Securitisation, Corporate Treasury and Pensions.
Legal and professional services firms offering support services are also a significant and valuable component of the industry.
Given the value of this industry to the economy and the appointment by Government in July 2014 of a Minister of state with specific responsibilities for the sector
and for the sector to be in a position to take advantage of new and emerging global opportunities for the remainder of the decade. 2015 Actions Developments in Financial services 349 Publish a new Strategy for the International Financial services (IFS) Sector.
IDA, EI, DFAT) 11.4 Internet of things The Internet of things (Iot) will be critical to Ireland†s economic future competitiveness both in attracting FDI and in building export orientated new enterprises.
efficiency and customer satisfaction of the services they deliver. Iot will generate huge volumes of data
In 2015 the Taskforce on Big data will assess the most appropriate policy response to this new and emerging opportunity
in order to stimulate the development of the Iot in a way that best supports enterprise and job creation. 2015 Actions Internet of things 352 The Task force on Big data will review the opportunities for Ireland arising from the Internet of things
and develop specific policy actions to develop those opportunities. Task force on Big data, DJEI, IDA) 11.5 Innovative/Advanced Manufacturing By 2020 manufacturing will be different from
what it is today. New materials (e g. ceramics, metals and alloys, powder, polymers, graphene, †smart†materials) and associated new processing methods have the potential to revolutionise existing industries as well as to create new ones.
Allied with the pace of advances in technologies such as these, changing consumer demands, environmental concerns,
and intensified globalisation and competition are driving new models of manufacturing. We can already see a shift toward increasing complexity with the convergence of sectors
These changes offer significant opportunities for the future of manufacturing in Ireland, although they involve disruptive changes to established business practices and to ways of working.
The real opportunity (and challenge) is to position Ireland as a Centre of Excellence for manufacturing technologies-to build a reputation for being at the leading edge of technology development and adoption.
Additive Manufacturing and Factory 4. 0 concepts. 2015 Actions Innovative/Advanced Manufacturing 353 Present to the Minister for Jobs Enterprise and Innovation and relevant departments and agencies
the findings of EI and IDA's engagement with manufacturing firms to assess the need for public investment in research infrastructure
Innovative Manufacturing Group, DJEI) 356 A business case will be prepared for consideration of the Minister for Jobs, Enterprise and Innovation for the establishment, governance and funding of an innovative manufacturing facility
IDA, EI, SFI) 11.6 Green Economy The Green Economy continues to hold potential as a new source of growth for Ireland.
The Green Economy encompasses a range of activities, spread across different sectors of the economy,
which have the common objective of providing goods and services in a sustainable way that reduce the impact on the environment.
It includes activities in areas such as sustainable food production, tourism, green financial services, waste management, renewable energy, smart grids and energy efficiency.
A number of actions elsewhere in this Plan will help 136 to support the development of the Green Economy †in particular in relation to our Energy Innovation Hub Disruptive Reform
The growing international emphasis on reducing greenhouse gas emissions and improving resource efficiency presents a major opportunity for indigenous enterprises to grow
and export innovative products and services. Many Irish companies have established already their credentials as world leaders in providing green goods and services internationally.
Ireland is ranked 11th in performance in the Global Green Economy Index 201410, but ranked only 33rd in terms of how it is perceived to perform.
There is potential to improve this position. The focus under this section of the Action Plan, will
therefore be on additional actions to increase Ireland†s international reach (including trade opportunities) and to communicate the performance of Ireland†s Green Economy more effectively
in order to encourage greater investment in the sector in Ireland. The opportunity will also be taken to explore the potential for the development of new employment opportunities in the Green Economy at regional level as part of the development of Regional Enterprise Strategies.
The Consultative Committee on the Green Economy, which was established as part of Delivering Our Green Potential, the Government†s Policy Statement on Growth and Employment in the Green Economy,
will also continue to explore areas of opportunity to support job creation in the Green Economy. 2015 Actions 357 Carry out Cleantech Trade missions
or include the Cleantech sector in multi-sectoral trade missions to highlight the products and services available from Irish companies in the sector and to develop export opportunities for them.
EI) 358 Contribute to the development of a European union list of products as part of the negotiation of a plurilateral agreement liberalising trade in Environmental Goods in significant international markets (e g.
USA, China. DJEI, EI) 359 Develop a strategy and appropriate tools to communicate the performance of Ireland†s Green Economy to global audiences more effectively to encourage greater investment in the sector in Ireland.
DJEI) 360 Examine the scope for improving access to finance for cleantech companies †which often have particular difficulties in accessing capital-to allow them to expand and export.
DJEI, EI and relevant actors) 10 http://www. dualcitizeninc. com/global-green-economy-index/2015 ACTION PLAN FOR JOBS 137 361 Consult with the Office of Government Procurement
and Enterprise Ireland on the potential to increase innovation in public procurement which could support cleantech products and services.
DJEI, EI, OGP) 362 In developing Regional Enterprise Strategies, explore the potential for the development of new employment opportunities in the Green Economy at regional level.
DJEI) 363 Through the Consultative Committee on Jobs in the Green Economy, continue to identify new opportunities to support job creation in the Green Economy.
DJEI, Consultative Committee) 11.7 National Institute for Bioprocessing Research and Training In December 2014, the IDA Ireland Board approved â 7. 5 million in core
RD&I funding for the National Institute for Bioprocessing Research and Training (NIBRT) to expand RD&I activity through the recruitment of at least two Principle Investigators over the coming years and implement the NIBRT Board approved
business plan and research strategy. The focus of the funding will be in the broad area of bioprocessing research
and some areas that NIBRT has prioritised include: ï§New generation therapeutic manufacturing: in particular manufacturing of antibody drug conjugates (ADCS;
IDA, EI, SFI) 365 In response to continued growth in biopharmaceutical manufacturing investment, there will be a continued focus on this skill area in Springboard 2015,
and Reviews 366 Develop a strategy to investigate new market opportunities in 4 high growth markets.
DECLG) 377 Facilitate, in conjunction with industry stakeholders and statutory agencies, the transition of voluntary Construction industry Register Ireland to a statutory register by end 2015.
DECLG) 378 Complete research to identify clusters/sectoral ecosystems on an all-island basis with the opportunity to grow jobs.
ITI) 379 Conduct a mid-term review of the New Frontiers programme with a view to determining the nature of future support for entrepreneurship training.
and licensing opportunities. SFI, EI) 382 Develop a strategy to improve the performance of Irish business in relation to securing contracts with International Financial institutions.
back to a top-five ranking in international competitiveness ï§To build world-class clusters in key sectors of opportunity ï§To build an indigenous engine of growth that drives up the export market share of Irish companies
ï§To stimulate the domestic economy and generate employment in locally traded sectors Objective Baseline (2011) Current Performance (2014) 2015 Targets Relevant APJ Sections To support 100,000 additional jobs by 2016 Decrease in numbers
and emerging markets ï§Win 160 new FDI investment ï§New targets as part of IDA 2019 Strategy 2. 1-National Talent Drive
Abroad 3. 7-Trading Online 4-Financing Growth 6-Growing Irish Enterprise and Foreign Direct Investment 8. 2-Easier To do Business
11-New Sources of Growth 1. 2 Increase in proportion of exports to high growth economies Exports to BRICS in 2009 of â 469m.
in 2010 64%of exports to non-UK markets in 2013 1. 4. Exports%Sales †EI enterprises 46%in 2010 51%in 2013 1. 5
and emerging markets to reach 20%in 2014.16%of greenfield projects 2013.20%of greenfield projects in 2014.2015 ACTION PLAN FOR JOBS 143 2. Stimulating the domestic economy (retail, construction, tourism
Targets Relevant APJ Sections 2. 1 Increase local economy employment Q1 2012 ï§Retail: 264,800 ï§Construction:
by â 30m ï§Tourism to 250,000 by 2025 ï§Support 28 significant food and drink industry investments, five
. 7-Trading Online 4-Financing Growth 10-Stimulating the Domestic Economy 2. 2 Increase in the domestic expenditure by exporting firms on payroll, and
domestically-sourced supplies and services 2011 ï§IDA enterprises: â 19. 8bn. ï§EI enterprises:
â 19.2.2013 ï§IDA enterprises: â 22. 4bn(+13%on 2011. ï§EI enterprises: â 21. 0bn(+10%on 2011). 2. 3 Increase in annual tourism visitor numbers to 7. 7 million by 2015.
Increase tourism Employment to 250,000 by 2025. ï§6. 2m overseas tourists in 2011 ï§c. 7. 3m visitors in 2014. ï§Accommodation employment
increased by 23,000 from 2011 to Q3 2014 ï§Foreign earnings of â 3. 6bn in 2014 144 2. 4 Increase Agri-food Exports to â 12bn
Smart Futures volunteers sourced ï§Meet employer demand for employment permits in the ICT sector,
250 extra places p. a. to achieve target to meet 78%of demand with domestic supply by 2018 ï§Target 13,800 annual science, technology,
engineering and maths graduates by 2018 (up from 10,200 in 2011) ï§Target for 30%of students to take 2. 1-National Talent Drive 3. 2 Domestic supply meeting demand for high-end
ICT skills 42%of demand in 2012 57%of demand in 2014 3. 3 Students taking higher-level maths 8
and lifelong learning 7. 9%of adults engaged 8. 2%of adults engaged 3. 7 In-company investment in training and education â 132 million â 149 million 146
687 est. in 2013.917 in non-construction trades higher level maths by 2020. ï§Target of 4,
Youth unemployment was 23.2%in Q3 2014.148 5. Increasing Levels of Entrepreneurship Objective Baseline (2011) Current Performance 2015 Targets Relevant APJ Sections 5. 1
3. 6-LEOS 8-Entrepreneurship 11-New Sources of Growth 5. 2 EI HPSUS approved 93 101 5. 3 Enterprise Starts-CSO
11,237 in 2010 12,551 in 2012 5. 4 Numbers employed in enterprise starts-CSO 10,475 in 2010 11,207 in 2012 5. 5 New Company incorporations-CRO
443 per month on average in 2014 5. 6. Increase participation on EI Entrepreneurship Programmes 485 (2013) 5. 7. New Frontiers Support for budding entrepreneurs N
Leanplus and Leantransform Programmes ï§Launch a Manufacturing Capital Equipment Grant providing up to â 250,000 ï§Pilot Platform 4 Growth online programme
150m in research funding for Ireland under EU Horizon 2020 in 2015 ï§Number of firms with RD&I investment>â 100
000 (1, 016) of indigenous and MNC (2017) ï§Number of firms with RD&I investment>â 2, 000,000 (169) of indigenous and MNC (2017) ï§Increase
researchers in enterprise to international benchmarks ï§Target to double patent and trademarks and design performance 2. 3-Europe†s Energy Innovation Hub 2. 6
-Intellectual Property in Enterprise 3. 3-Competitive Ecosystem for Big data 10-RD&I 11-New Sources of Growth 7. 2 Increase researchers employed in industry Foreign
=126.0 Warehousing Computer services Legal and Accounting Services 2011=100 2011=100 2011=100 Q3 2014=89.4 Q3 2014=106.3 Q3
2014=98.5 154 Architecture and engineering services Advertising Services 2011=100 2011=100 Q3 2014=97.6 Q3
Enhances the availability of funding mechanisms for SMES Objective Baseline (2011) Current Performance 2015 Targets Relevant APJ Sections 10.1 Increase in investment by enterprises Q1-Q3
2011 Manufacturing Capital Investment â 1. 06bn Q1-Q3 2014 Manufacturing Capital Investment â 2. 8bn(+163%)ï§To demonstrate the Online Tool
Finance Ireland 149 (Scheme launched on Oct 1 2012) 119 (Q3 2014) 10.7 Goods Vehicles Investments Goods vehicles registrations 2011: 17,415 Goods vehicles
Heritage and the Gaeltacht DCCOI Design and Craft Council of Ireland DCENR Department of Communications, Energy and Natural resources DCYA Department of Children and Youth Affairs D/Defence Department
of Defence DECLG Department of Environment, Community and Local government DES Department of education and Skills DFAT Department of Foreign affairs and Trade D/Finance Department of Finance D/Health Department of health
DJEI Department of Jobs, Enterprise and Innovation D/Justice and Equality Department of justice and Equality DPER Department of Public Expenditure and Reform DSP Department of Social Protection D
Tourism and Sport EGFSN Expert Group on Future Skills Needs 2015 ACTION PLAN FOR JOBS 157 EI Enterprise Ireland EIB European Investment Bank
EIF European Investment Fund EII Employment and Investment Incentive scheme EMFF European Maritime and Fisheries Fund EPA Environmental protection agency EPC Energy Performance Contracting ESRI
Economic and Social Research Institute ETB Education and Training Board ESCOS Energy Services Companies FCF Food Competitiveness Fund FW Food Works FDI
Foreign Direct Investment FET Further Education and Training FH2020 Food Harvest 2020 GEDI Global Entrepreneurship Development Index GEM Global Entrepreneurship Monitor
Research Council ISIF Irish Strategic Investment Fund ISME Irish Small and Medium Enterprises Association ISO International organisation for Standardisation ITI Intertradeireland Kfw Kreditanstalt
Development Programme LEADER Liaisons entre actions de developpement de l†à conomie rurale LEOS Local Enterprise Offices LGMA Local government Management
NCC National Competitiveness Council NDS National Digital Strategy NESF National Energy Services Framework NFP New Frontiers Programme NGI National Gallery
Capital Scheme SEAI Sustainable Energy Authority of Ireland SVCS Seed and Venture capital Scheme SFA Small Firms Association SFI Science Foundation Ireland SME
Small and Medium Enterprise SOLAS An tseirbhã s Oideachais Leanã naigh agus Scileanna SSPC Synthesis & Solid State Pharmaceutical Centre STEM Science, Technology
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