The Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection has confirmed funding through the Enterprise Ireland Regional Enterprise Development Fund, which will further support job creation in the region.
DIn counties Clare and Limerick, the Emerald Aero Cluster Group has been approved for funding. The initiative aims to develop Ireland and the Mid West region as a hub for global aerospace manufacturing excellence resulting in the creation of an additional €20m worth of additional export revenues over the next three years. This increase in revenue will result in the creation of 200 new direct jobs.
Welcoming the investment Minister Pat Breen said: “I’m delighted that Clare has secured funding through the Enterprise Ireland Regional Enterprise Development Fund, which will further support job creation in the mis west region. The Emerald Aerocluster group is an important development for Ireland’s growing aerospace industry, providing an opportunity for smaller aerospace companies to collaborate, win larger contracts and increase jobs for the sector.”
The Emerald Aero Cluster Group is a cluster of 14 indigenous manufacturing companies, brought together with the specific purpose of increasing Aerospace manufacturing export revenues for members and aerospace business for the Republic of Ireland. Member companies include; Dolmen DPF Eng Ltd, Paradigm Plastics Ltd T/A Future Plastics, Key Plastics LTD, Lenane Precision Limited, Panalok, Shannon Precision Engineering Ltd, Takumi Precision Engineering Ltd, Thormac, Total Precision Ltd., Croom Precision Medical, Mann Precision Eng, Dawnlough Limited, T&T Precision Ltd, Eirecomposites Teo.
“The aircraft manufacturing industry is gravitating towards tiered manufacture and larger entities are capturing market share. The best way for Ireland Inc. to win business is to pool resources and create an entity that will enable members to bid for contracts that are not possible on an individual basis. This is what Emerald Aero Cluster is doing,” added Minister Breen.
Of the 21 projects across all regions, 11 projects in the Southern Region of the country, which includes County Clare, have been approved for funding of €14.2 million, subject to grant conditions.
The fund, which is an open national competitive call to support regional projects, is provided by the Department of Business, Enterprise and Innovation, through Enterprise Ireland and is a key action to support the Regional Action Plan for Jobs and the Action Plan for Rural Development.
Details of the Regional Enterprise Development Fund are available on Enterprise Ireland’s website www.enterprise-ireland.com/REDF