Shannon Development hopes to create 23,000 jobs in the region by the year 2000. By that stage the company is confident it will no longer need any State subvention. The company's management team were speaking yesterday at the presentation of its 1996 annual report from the cargo bay of the world's largest aircraft, the Russian Antonov AN 124 which is serviced and repaired in Shannon.
According to the report, £76 million was contributed to the region by the State company last year through its operations in areas such as property, construction, tourism and information technology.
Mr Liam McElligott, company chairman, said Shannon Development "is making a contribution beyond job creation".
Last year over 1,700 jobs were created in companies assisted by Shannon Development, leading to a net increase in employment of 640 jobs when losses are taken into account. Some 221 companies received industry grant payments totalling £18 million.
He said the company was setting ambitious targets for the future, including increasing the number of jobs in tourism over the next four years by 4,500.
He added that the company was confident of growing manufacturing industry by a further 2,500 by 2000. In addition, the State agency hopes that new inward investment in the services sector will stimulate 4,500 jobs. By developing all these areas, the organisation envisages that a further 11,500 jobs will come into being in the local services sector, bringing an overall 23,000 increase in employment by 2000.
Results for 1997 show employment is growing strongly and that indigenous industries in the region have produced 856 jobs so far, while employment in the Shannon Free Zone has increased by 549 jobs up to the end of June.
On the matter of this year's tourist season, the assistant chief executive, Mr Peter Thompstone, said despite Central Statistics Office (CSO) figures, the tourist season "is down".
He said the CSO only measures visitor numbers and not "actual holiday-makers". He said substantial money had been put into tourism nationally, but there was an over concentration on the east coast.
He stated that 90 per cent of all visitors to the Republic come through eastern "gateways".
The Government should consider BES schemes for coastal resorts and the construction of a "super western highway" to boost the economies of the west and south, he said.
The annual report shows the company retained a surplus of over £5 million for the year ended 1996, an increase of almost £1 million.
The company's subsidiary, Shannon Heritage, contributed over £15 million in spin-off revenue and at peak season employed 300 people at 13 visitor attractions.
The company invested £7 million in developing, up-grading and refurbishing its industrial infrastructure.
The ending of the State's subvention will be made possible because of increased income from property investments, subsidiaries and participation in several EU programmes.
