Enterprise Ireland has published a new strategy aimed at growing the number of jobs in companies it supports to 275,000 by 2029.
That will see more than 40,000 new jobs added to client companies where employment stood at a record of 234,454 last year as businesses created 15,000 jobs.
The plan will also target exports of €50 billion over the same time period, up from €34.6 billion in export sales in 2023.
The five-year strategy, Delivering for Ireland, Leading Globally, will focus on adding 1,700 new Irish-owned exporters, helping them to become more productive, sustainable and innovative, and support a further 1,000 new start-ups to help drive long-term sustainable growth and job creation.
Among the targets are reducing carbon dioxide emissions at Enterprise Ireland-supported companies by 35 per cent by the end of 2030, and a 3 per cent annual average increase in productivity.
That will be supported by a rise in investment in research and development, with EI companies expected to spend €2.2 billion in 2029 compared to €1.55 billion in 2023.
In total, companies supported by the agency are expected to spend more than €55 billion in the domestic Irish economy in the last year of the strategy, up from €39.3 billion in 2023.
It also aims to have 150 large Irish exporting companies of more than 250 employees supported by Enterprise Ireland by 2029.
“With companies supported by Enterprise Ireland now employing 234,454 people and over €34 billion in exports, this gives Enterprise Ireland a strong platform to launch our strategy, with ambitious targets for the Irish enterprise base which aims to support more Irish companies to achieve greater scale through international growth," said Kevin Sherry, interim chief executive of Enterprise Ireland.
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“It is our long-term ambition that exporting Irish companies will become the primary driver of the Irish economy.”
The agency has identified a number of areas in which it can support Irish businesses, including improving access to debt and equity finance, strengthening skills and enhancing productivity through the adoption of AI, automation and digital processes.
Minister for Enterprise, Tourism and Employment Peter Burke welcomed the new plan.
“I am confident that the initiatives and actions outlined in this strategy will support this ambition and position Ireland ahead of emerging economic trends,“ he said. ”Irish exporters are a critical component of the Irish economy, and the Government is committed to supporting this sector to scale to further heights in the years ahead."
