Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
In 2005, Enterprise Ireland launched the Productivity Improvement Fund to support clients wishing to increase their competitiveness and potential for export growth.
Maintaining and building competitiveness is an ever-increasing challenge for Irish companies. In order to compete and win in global markets, Irish industry must find new and innovative ways to manufacture products and source components more efficiently. Enterprise Ireland recognises that its clients can only meet this challenge if they can provide high-value products and services at competitive prices.
Therefore, a key target for Enterprise Ireland is to support projects that will deliver sustainable increases in productivity in 300+ firms by year-end 2007.
The Productivity Improvement Fund came into operation mid-2005 and, to year-end, €8.5 million in funding was approved for 39 projects primarily in the Engineering sector (31%), the Food sector (25%), the Print & Packaging sector (15%) and Consumer Products sector (8%).
These projects range from capital investment to training for staff and management. The fund helps small and medium sized enterprises to increase their productivity and maintain their international competitiveness. It gives financial assistance of up to 50% for the purchase of machinery / automation equipment (maximum funding of €200,000), technology acquisition (maximum funding of €200,000), and training of staff and management (maximum funding of €150,000).
