Four Cork firms to create 95 jobs

€17m investment in R & D

495 new jobs created

Innovation key to future growth

Mr Micheál Martin, Minister for Enterprise Trade and Employment today (Thursday, 9th, December) announced that Deep Insight Ltd in Blackrock, Ecom Interaction Services Ltd. in Clonakilty, Kepak Cork in Watergrasshill and 12 Travel.com Ltd in Castletownsend are four of 17 Irish companies where Enterprise Ireland made a significant investment in support of innovation, international market and business development in the first half of 2004. This will result in a total investment of €29m and the creation of approximately 495 new jobs over the next 3 years. Over half (€17m) of this investment will be linked to applied R & D in 9 companies. The four Cork companies predict they will create 95 of these jobs.

Making the announcement, Minister Martin said: "Internationally trading Irish companies are substantial contributors to growth, wealth and jobs in the Irish economy. The companies announcing new investment and jobs today demonstrate the diverse character of Irish industry. Established companies like Kepak Cork in Watergrasshill have underpinned their growth by a continued and increased commitment to R & D and innovative approaches to product development. Others are the new breed of Irish companies and Cork is well represented in this regard. Three of the four Cork companies announcing expansion and job creation have been established within the last 5 years. These are Ecom Interaction Services Ltd in Clonakilty, Co.Cork, Deep Insight Ltd. In Blackrock and 12 Travel.com Ltd in Castletownsend.

“All demonstrate an ambition to respond to changing market demands by investing in Research & Development, training and business development needs. The focus on R & D is particularly important for Irish industry. In the years ahead successful companies will have developed a deep understanding of their customer needs and will invest on a continuous basis in applied research to deliver innovative customer solutions. Increased research and development, in particular highly focused applied research with business-to-business and business-to-college collaboration, is absolutely crucial in maintaining the momentum already underway. Minister Martin added.

“The importance of Irish industry to regional development is clearly evident as 14 of the companies are located outside Dublin. Irish owned businesses are critically important in creating jobs and generating economic activity in regional cities, towns and villages across the country. It is particularly important that these companies are creating challenging jobs at a regional level which are necessary to attract and retain a high skilled workforce”, Minister Martin concluded.

Frank Ryan, CEO, Enterprise Ireland said: “These companies represent significant investments made by Enterprise Ireland in the first half of 2004. During the same period, Enterprise Ireland also supported investments in approximately 550 companies in activities such as market investigation, R & D and training. Achieving and sustaining competitiveness is crucial for Irish companies to win new sales in highly competitive global markets. Strategic investment to build the capability to innovate and sell will position these companies to compete at an international level for new business opportunities”.

For further information contact:

Kathleen Quinlan - Enterprise Ireland

Phone: 01-808 2755/Mobile: 087-969 1680