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Minister Naughten welcomes continued strong job growth by Geoscience Ireland companies

25th August 2016

 

A survey of the 28 companies comprising the Geoscience Ireland Business Cluster has shown that 132 new jobs were created in the six months leading up to 1st July 2016. This compares very favourably with the 178 new jobs created during all of 2015.

 

Commenting on the report, the Minister for Communications, Climate Action and Environment, Denis Naughten, welcomed Geoscience Ireland companies' "continued success in creating highly skilled, export-orientated jobs in science, technology, engineering and mathematics (STEM) related sectors. While construction and infrastructure activity is increasing strongly in Ireland, a continued focus on the export potential for Irish geoscience and engineering SMEs must remain a key target for job creation.

 

My Department, along with Enterprise Ireland, will continue to support the Geoscience Ireland job growth initiative, which has seen the creation of 430 new jobs since its launch four years ago in September 2012."

 

Key metrics emerging from the recent survey reveal that:

 

  • 54% of Geoscience Ireland companies reported growth in job numbers, while 35% reported no change and 11% reported job losses.
  • The total employed by Geoscience Ireland companies exceeds 1,550.
  • Turnover by Geoscience Ireland companies in 2015 totalled €311 million, an increase of 12% from 2014.
  • 69% of turnover came from international markets.
  • Contractors accounted for 66% of turnover, while consultants and surveyors accounted for the balance.
  • 86% of Geoscience Ireland companies expressed concern regarding the possible effects of Brexit.

 

Infrastructure development remains the strongest performing sector, while elements of the beleaguered extractive industries show some signs of recovery this year.

 

The UK, West Africa and the Gulf countries were the more buoyant markets. However, the UK outlook is tempered by concerns regarding sterling volatility and economic contraction arising from Brexit, while instability in Turkey has also affected some projects.

 

ENDS

 

Note to Editors:

 

Geoscience Ireland (GI) is a network of 28 companies, delivering integrated expertise in water, minerals, environmental and infrastructure development to clients in over 50 countries.

 

GI is supported by the Geological Survey of Ireland and Enterprise Ireland. The GI network provides design, consultancy and contracting services to multilateral agencies, governments and the private sector.

 

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