Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
On behalf of the Board of Enterprise Ireland I am pleased to state that the challenging strategic targets set out in the Transforming Irish Industry 2005–2007 strategy have been achieved. This is an excellent performance, due to the ambition, commitment and determination of Irish companies to compete successfully in international markets.
In 2007 Enterprise Ireland client companies recorded €1.445 billion in new export sales, achieving a third successive year of strong export growth, bringing total new export sales over the 2005–2007 period to €4.419 billion.
Total export sales recorded in 2007 by Enterprise Ireland-supported companies was €13.181 billion.
Representing a net gain of 1,321 jobs, total employment in Enterprise Ireland-supported companies was 153,670 in 2007. While there were 13,294 job losses, our client companies created 14,615 new jobs, of which 10,746 were first-time job gains.
In 2007, the Board of Enterprise Ireland welcomed and endorsed a new three-year strategy. Transforming Irish Industry 2008–2010 places innovation at its core and is driven by the overarching principle that growth in global markets through the internationalisation of Irish companies is key to future wealth and employment creation in Ireland.
In accordance with Enterprise Ireland’s responsibilities as a statutory agency, the Board of Directors is strongly committed to achieving the highest standards of corporate governance. The Board applies the principles of good governance, set out in the Code of Practice for the Governance of State Bodies (Department of Finance, October 2001). The Board and management are committed to ensuring that all our activities, whether covered specifically or not in the code, are governed by the ethical and other considerations implicit within it.
Over the past 12 months, Veronica Perdisatt, Brian Kearney and Lorraine Benson retired from membership of the Board of Enterprise Ireland in accordance with Section 9 of the Industrial Development (Enterprise Ireland) Act 1998. On behalf of the Board, I thank Veronica, Brian and Lorraine most sincerely for their commitment and contribution.
I also wish to welcome Tony Spollen, Michael Buckley, Liam Meaney, Gearóid Doyle and Helen Nugent, who were appointed to the Board by the then Minister for Enterprise, Trade and Employment, Micheál Martin T.D.
I would like to express my appreciation to all the Government departments which supported Enterprise Ireland throughout 2007. For this I thank the Department of Enterprise, Trade and Employment, the Department of the Taoiseach, the Department of Foreign Affairs, the Department of Agriculture, Fisheries and Food, the Department of Education and Science, the Department of Communications, Marine and Natural Resources, the Department of Finance, and the Department of the Environment, Heritage and Local Government.
I would also like to record my thanks to all other bodies with which Enterprise Ireland has worked in partnership, including the City and County Enterprise Boards, Forfás, IDA Ireland, Science Foundation Ireland, Bord Bía, FÁS, Bord Iascaigh Mhara, Údarás na Gaeltachta, Shannon Development, the Higher Education Authority, and other State agencies, industry associations and third-level institutions.
Close working relationships have been established between Enterprise Ireland, Invest Northern Ireland and InterTradeIreland. I would also like to acknowledge these important inter-agency relationships, which can only be of benefit to companies across the island of Ireland.
Finally, I would like to thank the staff of Enterprise Ireland for their ongoing hard work and exceptional commitment. I look forward to continuing our combined efforts to support and grow our client companies and Ireland’s enterprise base.
Patrick J Molloy
Chairman
