Tuesday 21 November 2017

Government’s plan to create 200,000 jobs

THE Government Action Plan for Jobs includes two deadlines to create 100,000 jobs by 2016 and another 100,000 by 2020.

All of the 15 Government departments and 36 State agencies involved will be subject to quarterly reviews to identify failings or problems and work to quickly resolve them.

The main points to be rolled out this year include:

Enterprise Ireland - Staff will set up new local authority boards to drum up business and look at which firms should be exporting.

Homegrown - €1.2 million euro a year for mentoring and management development in the domestic economy using more top business leaders, multinationals and large Irish companies to pass on knowledge.

Economy - Identify major sources of job creation in manufacturing.

Gaming - Set up a cluster development team for digital games.

Finders' Fee - Members of the Diaspora will be offered up to €4,000 financial rewards to attract inward investors - this comes on the back of the income tax relief for high earning executives relocating to Ireland.

Intellectual Property - Examine what is needed, including changes to Government policy, to make Ireland a world centre for managing and trading in the sector.

Business Loans - A €150 million pot, known as the Development Capital Scheme, will support small and medium-sized businesses with the potential to create jobs but sinking under lack of credit. It comes on top of the already announced €100 million loan guarantee pot.

Business Costs - Departments and agencies given one month to identify business levies that can be frozen or reduced for two years.

Tax - Corporation tax exemption to be extended for start-ups until 2014.

R&D - Target the State's €500 million funding pot at firms with strong commercial potential and job-creation and improve supports to get 740 companies to spend €100,000 or more a year developing ideas and products.

Pay - The next generation Social Partnership regime for agreeing wage setting mechanisms.

Debt - Experts to look into a new settlement system to meet the needs of small and medium enterprises.

Investment - On the back of the finders' fee and executive relief, immigration chiefs will look at new rules to attract entrepreneurs to Ireland ready to set up businesses.

Press Association

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