Companies supported by Enterprise Ireland have today announced a number of investments that will create 495 jobs across the country.
The Minister for Enterprise Trade and Employment, Mr Martin, made the announcement on behalf of the 17 companies that will invest €29 million over the next three years.
Over half (€17 million) of this investment will be linked to applied R&D in nine companies.
Among the companies investing are established businesses such Burnside Hydracyl and Burnside Eurocyl in Co Carlow,;Combilift in Co Monaghan; Mergon International in Co Westmeath; and Sigma Wireless Technologies in Dublin.
Newer companies include Ecom Interaction Services in Clonakilty, Co.Cork, and Prime Carrier in Dublin - established within the last five years.
Mr Martin said the increase on R&D spending was "absolutely crucial" in maintaining the economic growth momentum already under way.
Mr Frank Ryan, chief executive of Enterprise Ireland, said: "Achieving and sustaining competitiveness is crucial for Irish companies to win new sales in highly competitive global markets.
"Strategic investment to build the capability to innovate and sell will position these companies to compete at an international level for new business opportunities."