Up To 45,000 New Jobs Expected To Be Created In 2017

The Department of Jobs, Enterprise and Innovation has seen a 10% increase in its budget for 2017, bringing its total allocation to €555 million.

The new allocation represents the largest increase in the Department's Capital Budget for over a decade.

It includes an extra €52 million to support further job creation, innovation and support Irish companies help to respond to the challenges and opportunities from Brexit.

The Minister for Jobs, Enterprise and Innovation, Mary Mitchell O'Connor, said that she is targeting the creation of 40,000 – 45,000 new jobs in the economy next year to continue the momentum generated in 2016.

The additional funding demonstrates Government's ongoing commitment to delivering 200,000 additional jobs by 2020 of which 135,000 will be in the regions.

The Minister wants both the IDA and Enterprise Ireland to bring the job numbers in their client companies to over 200,000 each next year.

Minister Mitchell O'Connor said: "Budget 2017 is pro-enterprise and pro-jobs. I'm particularly delighted to have secured the largest capital increase by the Department in over a decade.

"The Enterprise Agencies are currently delivering an extra 70 jobs per day and their supported companies are contributing well in excess of €40 billion euros to the economy annually.

"I want our Agencies to use the additional capital money that I have secured for 2017 to continue that level of jobs progress next year.

"It is clear that our Agencies are playing a leading role in contributing to Government's overall target of delivering an extra 200,000 jobs by 2020. So my aim is that 2017 sees delivery of a further 40,000 to 45,000 new jobs across the economy next year.

"The Budget contains many measures that will assist business become more competitive and cope with the impact on Brexit. Importantly, we have secured additional Pay monies which will provide for an extra 50 staff for the Department and its Agencies. The staff will be specifically tasked with assisting companies adjusting to the challenges faced from Brexit, securing new business and innovation opportunities and diversifying into new markets.

"There are also a number of changes to the taxation treatment of entrepreneurs, self-employed and SMEs which are to be welcomed. The budget is a cautious one, which is appropriate to our economic needs while we continue to invest in our future jobs potential."

(MH/CD)