Enterprise Ireland has supported significant investments in ten Irish companies, which will result in the creation of approximately 386 new jobs over the next three years.

Making the announcement Tánaiste Mary Harney said the companies supported varied from new start-ups with high export growth potential to established companies expanding activity.

Six of those companies are located outside Dublin and are involved in activities such as medical devices, information technology, engineering and innovative furniture production.

The Tanaiste said: "All of these investments were made in the first three months of 2003 and underline the importance of indigenous enterprise to the Irish economy during what has been a difficult period for both local and international business. It also confirms that Ireland does maintain a competitive advantage in key sectors. We must build on this momentum and continue to encourage existing business and prospective new investors to strengthen the employment base of Irish industry."

"In a difficult global trading environment, these companies have identified market opportunities and are prepared to invest substantial resources in responding to those opportunities. These investments will help some companies to export for the first time, will help others to consolidate and build market share, and will help others to perform critical R & D," she added.

(CL)