Employment in Enterprise Ireland supported companies increases to a record 225,495

• 15,530 total new jobs created in 2023

• 68% of new jobs created were regionally based 

• Results launch hosted by APC VLE who are announcing the creation of 300 new high-quality jobs supported by Enterprise Ireland
   

Employment in client companies of Enterprise Ireland increased to a total of 225,495 in 2023, the highest ever recorded.

The total number of jobs created was 15,530.  When job losses are taken into account there was a positive net jobs result of 5,011 in a very challenging year for businesses. 

The results were announced today by Minister for Enterprise, Trade and Employment, Simon Coveney, TD and Enterprise Ireland CEO, Leo Clancy at APC and VLE’s headquarters in Cherrywood in Dublin.  Today the leading life sciences company announced a €100 million expansion and the creation of 300 new jobs to establish ‘The Medicine Accelerator Campus’ in Cherrywood, Dublin.

Eight out of nine regions recorded net jobs growth, with the West region (+5%), the North-East region (+5%) and the North-West region (+4%) performing particularly strongly.  68% of new jobs created in 2023 in companies supported by Enterprise Ireland were located outside the Dublin region. 

Each of Enterprise Ireland’s three main sectoral divisions recorded jobs growth with Food and Sustainability now employing 66,047 people (+3%), Industrial and Life Sciences employing 93,652 (+2%) and Technology & Services employing 65,796 people (+2%).

Climate, Sustainability & Agritech performed strongly, with employment increasing by 7%, as did Dairy, Drinks and Food FDI with a 5% increase in employment.

Life Sciences companies saw employment increase by 4% and employment in the High Tech Housing and Construction sector increased by 3%. 

Digital Technology and Fintech sectors continued to grow at a moderate 2% despite technology industry headwinds, with international education and edtech reporting 5% employment growth.

Launching the 2023 employment results this morning, Minister for Enterprise, Trade and Employment, Simon Coveney, TD, said 

“It is positive to see Enterprise Ireland supported companies recording jobs growth for the third year in a row.  2023 was a particularly challenging year for exporting Irish businesses with rising input costs, high interest rates and international instability among the challenging issues that impacted business performance.  Government is determined to help business face these challenges and continue to create high-quality employment across every region in Ireland. In addition to direct financial support, we are working with our economic development agencies, including Enterprise Ireland, to ensure an increased focus on innovation, digitalisation and sustainability so that Irish companies can continue to compete and win in global markets.”

Enterprise Ireland CEO Leo Clancy said, 

“Irish export-focused companies are continuing to create quality employment across Ireland, despite a challenging business environment. Employment in companies supported by Enterprise Ireland is now at its highest ever level at over 225,000 people. Despite very challenging economic conditions including higher costs, interest rates, inflation and international instability, Enterprise Ireland backed companies added 15,530 new jobs to the economy, ahead of our target for the year. 

“Looking to the year ahead, we have a major focus on supporting the ambition of Irish entrepreneurs to help them scale globally. APC & VLE, announcing 300 new jobs today, is a great example of an ambitious, innovative Irish company growing customers, adding pharma R&D, digital and manufacturing jobs and creating an impact in global markets.  

“At Enterprise Ireland we are determined to support both the start-up sector and established companies to increase sales and exports in global markets which results in increased employment.  Business sentiment among our client companies remains very high and they are continuing to innovate to ensure they are competitive in global markets that remain turbulent.  Enterprise Ireland is here to support those companies on that journey.”

 Mark Barrett, CEO and Co-Founder of APC and VLE Therapeutics, said

“Reimagining how medicines are developed and accelerated to patients is our motivation, our purpose. Today’s announcement of an additional 300 new jobs, along with a €100 million capital plan to create a new 130,000 ft² Medicine Accelerator Campus in Cherrywood, Dublin, demonstrates our confidence in our team to deliver on that purpose.

“This new expansion will enable our team to reimagine and transform medicine development and manufacture. I am so excited to see our organization pursue such a patient focused mission.

“The support of Enterprise Ireland has been pivotal in accelerating this expansion and we look forward to continuing to work with them on our mission to accelerate medicines to patients.”

Ends