This article is from page 13 of the 2012-08-07 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 13 JPG
EMPLOYMENT numbers at the Shannon Development managed Free Zone dropped by three per cent in 2011 as the company grappled with the demands of the economic recession, but there are still over 7,700 working in the industrial estate.
The Shannon Development annual report shows that employment numbers were boosted by 406 over the past year, which when measured against job losses of 580 over the same period meant that there was a net loss of 174 for the year.
“Shannon Free Zone is home to over 100 companies and generating almost € 3 billion in annual sales, more than 90 per cent of which are to export markets.
“Despite the economic downturn, Shannon Free Zone continues to be a strong revenue generator for the local economy.
Companies based at the Free Zone collectively contribute over € 600 million to the Irish and Shannon region economies annually in areas such as staff payroll, materials and services.
“While overall employment at the Zone fell 3 per cent year on year, it should be noted that almost 90 per cent of these job losses were the result of downsizing and not closures, enabling Shannon Development to continue working with these companies to identify new market opportunities. The company is encouraged by the slowdown in job losses, reporting a net loss of 174 jobs during the year. Jobs in indigenous companies at Shannon Free Zone continued to grow in 2011, in the past two years indigenous jobs have increased by over 10 per cent from 949 to 1,045,” the annual report adds.
Among the job highlights in 2011 was the announcement by Minister for Jobs, Enterprise and Innovation, Richard Bruton of 170 new jobs to be created through a joint partnership between US company ZAGG International Distribution Ltd and Irish company CREGG Logistics.
The jobs are supported by Shannon Development and ZAGG is confident of creating a further 130 jobs over the next four years.
In addition, Bustec, the Shannon Free Zone-based technology firm, announced a $21 million (€ 15 million) contract with US technology firm Lockheed Martin to supply data capture and testing equipment which will be used by the US Navy.
“Considerable progress was made on marketing the Free Zone to potential overseas investors in 2011,” says the annual report.
During the year, Shannon Development succeeded in securing 19 itineraries from prospective new clients for the Shannon Free Zone, seven of which were generated in partnership with IDA Ireland.
“Shannon Development approved financial supports to Shannon Free Zone companies in 2011, which leveraged investments of € 13 million by these companies. A total of 20 Shannon Free Zone companies received Shannon Development support packages across key areas such as R&D, employment, management development, international marketing supports and training.
“These supports illustrate Shannon Development’s commitment to enable Free Zone companies maintain market leadership and underpins their future growth and success,” the reports adds.