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Ireland Strategic Investment Fund publishes economic impact report for 2015 on investments in 108 Irish companies and projects

Ireland Strategic Investment Fund publishes economic impact report for 2015 on investments in 108 Irish companies and projects

1 June 2016 – The Ireland Strategic Investment Fund has today published an update on the economic impact and details of its investments in 108 Irish companies and projects. The companies supported by this investment activity employed almost 18,000 people directly and indirectly, with 60% of jobs supported outside of Dublin, and generated annual revenues of €1.2 billion for 2015.

The Fund made investment commitments of €759 million to additional companies and projects in 2015, bringing the total committed to €2.2 billion at year end.

Today’s report also shows an additional 5,935 jobs were supported by the Fund’s investment activity last year, mostly in the SME sector, bringing total employment supported by the Fund to nearly 18,000.

The Gross Value Added (GVA) of the Fund’s investments, a key measure of their economic impact, was €538 million at end 2015.

The report provides details of the Fund’s investment commitments to end 2015, with information on the amounts committed to individual investments and a full listing of companies and projects that are being backed by the Fund.

Eugene O’Callaghan, Director of the Ireland Strategic Investment Fund, said: “In addition to the economic benefit metrics shown in today’s report, the Fund is supporting the long-term productivity and competitiveness of the economy in a number of important ways that aren’t captured by these headline figures.

For example, we have committed to projects with the capacity to supply clean renewable energy to 150,000 homes annually. We have backed ventures that have advanced finance to build in excess of 4000 residential units and have the potential to fund many more.

We have invested in projects that have facilitated the delivery of eight schools with 5,700 pupil places. In addition, through our commitment to DCU, we have drawn in the support of EIB funding to facilitate the significant transformation of DCU’s campus infrastructure.

Our €2.2 billion active pipeline of investments will further the realisation of our dual mandate of generating commercial returns on investments and supporting economic activity and employment in Ireland over the coming years.”

 

Ireland Strategic Investment Fund