Enterprise Ireland 2020 spend soars to over €1bn in response to pandemic

Enterprise Ireland last year increased its spend by almost threefold to more than €1 billion as part of its bid to support Irish industry respond to the pandemic.

The bulk of the spend was made up of financial support to industry at €984.9 million – this followed a spend under the same heading of €243.9 million in 2019.

According to the Enterprise Ireland 2020 annual report, the State agency received funding of €1 billion from the Department of Enterprise, Trade and Employment last year, following an allocation of €296.99 million from the department in 2019.

The bulk of the spend related to €645.65 million for the Covid-19 restart grant scheme which gave direct grant aid to micro and small business to help them with the costs of reopening and re-employing workers after lockdowns.

Enterprise Ireland last year recorded a surplus of €121.32 million before appropriations, compared with a surplus of €11.86 million before appropriations in 2019.

Staff costs

Staff costs increased by 3.5 per cent from €62.67 million to €64.84 million as numbers employed increased from 768 to 775.

The €64.84 million in staff costs includes €858,000 in relocation/recruitment costs.

The numbers earning more than €100,000 at the agency increased from 52 to 69, including 10 senior members of staff earning more than €150,000.

The basic salary for former chief executive Julie Sinnamon last year totalled €189,619, along with standard public-sector retirement benefits and €12,375 for benefit in kind concerning a company car. Ms Sinnamon retired from her post on May 30th this year and has been replaced by Leo Clancy.

See also  Profits soar at Shannon Airport parent in spite of reduced air traffic

The total pay for key management personnel came to €834,740, compared with €678,244 in 2019.

The rental bill for the company, which has office space in Ireland and in 38 locations around the world, came to €7 million. The impact of Covid-19 resulted in Enterprise Ireland’s staff international travel and subsistence bill declining from €2.48 million to €527,714.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.