Free Zone jobs in the black for Shannon Development

FOR the first time since 2008, more jobs were created than lost last year in Shannon Development client companies based in the Shannon Free Zone.

 

During 2012, 499 new jobs were created in the regional development company’s client companies there, while 467 were lost, a net gain of 32.

In 2011 there was a net loss of 174 jobs, with losses also in 2010 (254) and particularly in 2009 (787).
In a statement on Monday, Shannon Development said it was pleased with the 2012 performance.

“Shannon Development is optimistic that Shannon Free Zone turned a corner in 2012 with 499 new jobs created at the Zone. When job losses (467) are taken into account, a net gain of 32 jobs was recorded.

“Given the adverse global economic climate the company is encouraged by the growth at Shannon Free Zone which was also reflected in the indigenous sector there. Over the past three years, indigenous jobs at the Free Zone have increased by over 12% from 953 to 1,076.

“Considerable progress was made on marketing the Zone to potential overseas investors in 2012. During the year, Shannon Development succeeded in securing 23 itineraries from prospective new clients for the Shannon Free Zone, ten of which were generated in partnership with IDA Ireland.”

It added that companies in the Free Zone collectively contribute over €620 million to the economy, through payroll, materials, services and so on.

There are some 7,700 people working in the Free Zone, albeit not all of them in Shannon Development client companies.

Following the separation of Shannon Airport from the Dublin Airport Authority, a new entity is to be formed which will combine Shannon Development’s property portfolio (including the Free Zone) and the airport. This is set to come into being later this year.

The IDA and Enterprise Ireland are set to take responsibility for enterprise development in the region.
Speaking when the move was announced in December, Enterprise Minister Richard Bruton said, “Shannon Development has done a lot of good work with enterprise but we believe that with the new structures, we can not alone sustain that but enhance both the service to multinational companies through the IDA and to indigenous companies through Enterprise Ireland.

“There will be 55 companies now supported by IDA and 43 companies supported by Enterprise Ireland. Both agencies have developed business plans to ensure that we preserve everything of value and that we enhance the opportunities. Clearly the aviation sector is a major enterprise opportunity and this is one that the new structures will drive.”