Shannon Free Zone saw net loss of 174 jobs last year

SHANNON DEVELOPMENT yesterday reported a net loss of 174 jobs in the Shannon Free Zone last year. The free zone is home to more than 100 companies that employ more than 7,700 people and generate €3 billion in annual sales, more than 90 per cent of which is exports.

The development agency said 406 new jobs were created, compared with 580 job losses.

A spokeswoman said jobs in indigenous companies at Shannon Free Zone continued to grow in 2011. “Over the past two years indigenous jobs at the free zone have increased by over 10 per cent, from 949 to 1,046.”

Chief executive of Shannon Development Dr Vincent Cunnane said he was hoping there would be a break-even result for the free zone last year. “We had hoped that it would be flat and the early indications were that it would be.”

He said there were 19 itineraries – seven of which were generated in partnership with IDA Ireland – last year by companies considering investing in the free zone. “That was on the up of the previous year.”

A total of 20 Shannon Free Zone companies received Shannon Development support packages across key areas such as RD, training and marketing.

Dr Cunnane recently said he had no doubt Chinese investment would come to the zone and to Ireland, based on the agency’s special relationship with China.