More than 170 new jobs are to be created by two companies in Dublin and Meath.
Textile manufacturing firm Mafic is to build a new basalt smelting plant in Kells, Co Meath which will create 70 jobs over the next three years.
The investment is the first significant jobs boost secured under the Government’s “Succeed in Ireland” initiative.
The scheme, announced last year as part of the Government's action plan for jobs, offers financial incentives to any person who successfully introduces a company to Ireland that creates jobs.
The initiative, operated by ConnectIreland.com, targets international companies and business people who would otherwise not have been reached by State agencies.
Luxembourg-based Mafic has the exclusive technology rights for the production of basalt fibre, which is used as a fireproof textile in the car and aerospace industries.
Mafic will make basalt fibre from crushed basalt rock, which is being sourced from the Ukraine and melted in specially commissioned furnaces.
Its plant, which will be based in the Kells Business Park, will create employment opportunities for 70 people in the areas of general management, shop floor managers, general operatives and administrative staff.
Minister for Jobs Richard Bruton said: "The innovative 'Succeed in Ireland' initiative which we launched a year ago as part of the Government's Action Plan for Jobs is about marshalling all the resources of our community and our diaspora to tackle the jobs crisis and attract new multinational companies who would not otherwise come to Ireland."
“The announcement that Mafic is establishing a facility in Kells with
the creation of 70 new manufacturing jobs is great news for Meath and an
example of precisely what we are aiming to achieve with this initiative.
“Through local connections and with support from my department through IDA Ireland, a manufacturing facility which otherwise would have gone
elsewhere in the world is coming to employ people off the live register in
a regional town which would ordinarily struggle to attract multinational
investment.”
Separately, international finance firm Aztec Money is to set up its global headquarters in Dublin with the creation of a 100 new posts over the next two years.
The company, which already employs 30 people here, specialises in connecting SMEs with institutional investors.
It said the new jobs, which will be based at George’s Quay in Dublin, would be multilingual positions in the areas of data processing, marketing, sales and IT.
Mr Bruton said improving access to finance is a key part of the Government’s plans for jobs and growth.
“Since taking office, we have put in place new funding mechanisms that will make available an additional €2 billion in credit for Irish businesses,” said Mr Bruton.
“Aztec Money is announcing that it is establishing an innovative new service for Irish SMEs to help improve cash flow, which will be a very welcome addition to the support available to job-creating businesses here.”
