Minister Bruton announces opening of new Enterprise Ireland offices in Austin Texas and Istanbul
Focus on export opportunities as over 650 Irish companies hold 2300 meetings with Enterprise Ireland international market experts
Minister for Jobs, Enterprise and Innovation, Richard Bruton TD today (Monday 16th September 2013) announced the opening of two new Enterprise Ireland offices – in Istanbul, Turkey and Austin, Texas, USA. The announcement was made as the Minister opened International Markets Week, Enterprise Ireland’s single largest client event and a significant part of Enterprise Ireland’s strategy to drive Irish exports to support business growth and jobs in Ireland.
These new office openings in Turkey and Texas, USA – delivered with the support of the Department of Jobs, Enterprise and Innovation – follow extensive research, the completion of successful trade missions and increased client demand, confirming the benefit of these new offices to support Irish companies target export opportunities in both markets.
Today’s announcement forms part of the Action Plan for Jobs and its central strategy of building a powerful engine of Irish exporting businesses. Over the past two years the Government has introduced a range of measures aimed at supporting increased levels of exports by Irish exporting businesses including:
- A dramatic increase in the intensity of Ministerial-led trade and investment missions. Since the Plan was launched in early 2012 the number of Enterprise Ireland trade missions, for example, has doubled, from an average of 8.5 (2007-2011) to an average of 17 (2012 and scheduled for 2013).
- Established a new Potential Exporters’ Division in Enterprise Ireland.
- Put in place over €2billion worth of new credit programmes for Irish companies.
- The Foreign Earnings Deduction introduced in Budget 2012 and extended in Budget 2013, aimed at incentivising companies to place staff in growth markets (in particular the BRICS) and encouraging export sales.
- Recruitment of 20 additional Enterprise Ireland staff in high-growth markets, announced in early August 2013.
Speaking at International Markets Week, Minister Bruton said:
“At the very heart of the Government’s plans for jobs and growth is our determination to build a powerful engine of Irish exporting businesses, and in the past two years we have implemented a range of changes including doubling the number of Enterprise Ireland trade missions and recruiting new staff in target high-growth markets.
“Texas and Turkey are two markets which hold enormous potential for Irish companies. When I travelled to Texas earlier this year for a trade mission with 40 dynamic Irish companies I was blown away by the opportunities that exist and the success that some Irish companies have achieved there. Today’s announcement will mean that Irish companies in these two markets have top-class access to Enterprise Ireland’s suite of supports, networks and contacts, and will provide a real boost for exports and ultimately jobs in Ireland”.
Enterprise Ireland’s Head of International Sales and Partnering Kevin Sherry said: “Companies taking part in International Markets Week achieved record export sales in 2012 and believe they will secure export growth in 2013 – sustaining and creating jobs in Ireland. The opening of two new Enterprise Ireland offices in Texas, USA and Turkey is timely and demonstrates our commitment to increasing the reach and scale of Irish exports, and to supporting our client companies as they seek to win more export sales”.
Minister Bruton has undertaken 15 major trade and investment missions in the 30 months since taking office in March 2011:
- Five IDA investment missions to the USA, two to the east coast, two to the west coast and one encompassing the East Coast, South and Mid-West.
- Five Enterprise Ireland trade missions, one to Texas, one to the south-eastern USA, one to Saudi Arabia and India, one to Canada and one to France accompanied by hundreds of Irish companies looking to break into new export markets.
- A 7-day joint EI/IDA mission to China led by the Taoiseach, and a 5-day joint EI/IDA mission to China and Japan led by Minister Bruton.
- A 5-day EI/IDA trip to the west coast of the USA built around St Patrick’s Day 2012.
- A 4-day mission to Germany around St Patrick’s Day 2013, and a 2-day mission to Germany around St Patrick’s Day 2011, including a series of meetings arranged by IDA Ireland, Enterprise Ireland, Bord Bia and Tourism Ireland.
The scope of opportunity for Irish companies seeking to expand their exports to the Southern States of the USA is substantial, with the scale of individual Southern States the equivalent of developed economies. Texas is the 15th largest economy in the world and has been identified as a State with a high concentration of businesses which represent the best match for the capability of Enterprise Ireland clients. These include Computer technology and Communications equipment, Energy and Cleantech, Medical devices/Lifesciences, Engineering /Material Handling.
Turkey has emerged as a market offering significant export opportunities for a growing number of Irish companies. Turkey is forecast to be the fastest growing economy among members of the OECD between 2011-2017 with an annual growth rate of 6.7%. It is a substantial economy in its own right and is the gateway to opportunities in the greater Eurasian market with a population of 220 million people. Enterprise Ireland has identified the sectors offering the best potential and match for Irish companies’ capability as ICT and Telecoms, Pharma/ Process Engineering, Engineering, Financial Services, and International Education.
International Markets Week is a practical initiative which gives over 650 Irish companies the opportunity to discuss and explore their international growth strategies with Enterprise Ireland’s team of overseas market advisors. Over 2,300 meetings are planned with the objective of helping Irish companies break into new export markets, or expand their sales in new markets. The range of clients participating covers all sectors and includes companies with extensive overseas operations as well as small enterprises exporting for the first time.
To coincide with International Markets Week, Enterprise Ireland conducted a survey of 670 clients. The survey results show that almost 90% believe they will increase their exports in 2013. 80% say they will increase their employment in 2013, and 95% are optimistic that they will increase exports in 2014.
For further information. please contact:
For further information please contact the The Press Office at Enterprise Ireland
Department of Jobs, Enterprise and Innovation
International Markets Week 2013 in Numbers
|2||The number of new offices which Enterprise Ireland will open in 2013|
|650+||The number of participating Irish companies exploring new market opportunities during International Markets Week.|
|2300||The number of individual company meetings organised between Irish companies and an Enterprise Ireland country expert.|
|€16.2bn||The value of export sales secured by Enterprise Ireland client companies in 2012.|
|60||The number of international markets covered by Enterprise Ireland country experts that client companies will consider for exporting to this week.|