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Limerick County Enterprise Board Annual Report I pg 1

ContentsPG

Chairman’s Foreword 3

Report of Chief Executive Officer 4

Background 6

The Structure of the Board 8

Measure 1 – Selective Financial Assistance 10

Approvals 13

Payments 18

Measure 2 – Entrepreneurial and Capability Development 21

Accounts & Financial Statements 26

Limerick County Enterprise Board, Lower Mallow Street, LimerickTel: 061 318318 Fax: 061 319318 Email: [email protected] Web: www.lcoeb.ie

2006, with the loss of over 350 jobs inCastlemahon and Bruff, created a number of new challenges for the Board. Limerick County Enterprise Board played a significant role in supporting both areas in their efforts tofind alternative enterprises for the region. In the case of Castlemahon, an Enterprise-Board-supported company has purchased the mill, andthis has now been reopened. The Board has alsosupported the poultry growers in the assessmentof the viability of a management buy-out of the business.

Kantoher was another area that encounteredmajor job losses. The Board has worked continually

with the local community to revitalise the location. To date, five companies have setup business in the old Kantoher processing plant. A state-of-the-art electronicscompany has succeeded in attracting overseas investment, which could result in the creation of 100 jobs. The Board, in association with its partners, is currentlyin the process of developing 10,000 sq. ft. of offices and workspace in Kantoher.

Training & Entrepreneurial Development forms a major part of the Board’s activity each year. In 2006 the main activities covered included: Manufacturing Development;Business Networks; One to One Mentoring; and Schools Enterprise. The Women inBusiness network has been the Board’s most successful Programme. A total of 600women are currently registered on our data base, with over 400 women attendingevents each year. Our Schools Enterprise Day was once again a great success, with over 450 students participating.

The Business Expansion Scheme has proven to be an important source of funding for companies with major expansion plans. In the last year, the Board has supportedcompanies to raise over ¤3 million for their expansion programmes.

The year 2006 was a sad year for the Board, as its Chairman, Patrick O’ Connor died. Mr. O’ Connor was Chairman of the Board for 5 years, and his leadership was vital tothe Board’s success over that period. Paddy O’ Connor always had the ability and foresight to overcome difficult problems. May he Rest in Peace.

Finally, I wish to record my thanks to the other Board members, to the EvaluationCommittee and to the staff who helped make 2006 another successful year.

Chairman’s Foreword

Patrick O’ConnorChairman


This has been another good year for the Board; in particular, it has carried out invaluable workwith Local Communities, Schools and Women in Business.

Limerick County Enterprise Board has workedclosely with a number of local communities tofurther develop their industrial base. The Board in conjunction with its partners has enabled thesecommunities to develop an industrial strategyand has put in place structures to secure jobs forthe future. To date, plans have been implementedin three of the communities affected by job lossesover the last two years, and already some

significant results have been achieved.

Kantoher continues to recover from job losses suffered in 2005. To date, the Board has supported 5 companies who have set up in Kantoher; the arrival of these companieswill result in an additional 100 jobs being created in the area. In addition to grants, the Board has supported two companies to raise over €3 million by way of BES Funding.The Board has also supported the community to prepare a proposal to raise fundingfor an Enterprise Centre. The project has since received grant aid of €270,000 fromEnterprise Ireland.

In 2006 the Board introduced a number of initiatives in its Entrepreneurial andCapability Development Programme. A training programme in Sales and Marketing was developed for the students of the Limerick School of Art and Design. Thisprogramme is designed to enhance the students’ commercial skills.

The Board in conjunction with Limerick City and North Tipperary Enterprise Boardsorganised a Women in Enterprise Trade Fair. This event was held in the Castletroy ParkHotel, Limerick and gave females in the business sphere the opportunity to market theirproducts locally and to establish valuable contacts. The trade fair was opened by Ms.Celia Larkin. It was a great success. The Board also supported four food manufacturingclients to attend the SHOP Trade Fair in Dublin.

At the beginning of each year, the Board sets a number of targets in the areas ofFinancial Supports to Industry and Training & Management Development. All targetswere achieved, with the Board investing €349,758 in 26 projects. These projects have the potential to create 65 jobs when fully operational. In relation to training anddevelopment, a total of 475 people participated in 28 programmes organised by the Board.

A total of 880 students from various schools attended the two Enterprise Programmesrun for transition year and Junior Cert students. The Board invested a total of €226,675in its Entrepreneurial and Capability Development Programmes.

In 2006 our Chairman, Mr. Patrick O’ Connor passed away suddenly on retirement fromhis position as Director of Housing at Limerick County Council. Paddy O’ Connor was anexcellent Chairman and a great leader. Any difficult situation was soon made easy, andhis ability to deal with any problems which arose made a major difference to thesmooth running of the Board. I wish to express my thanks to Paddy O’ Connor for allthe support he gave to me during his time as Chairman. Paddy, you will be rememberedand may you Rest in Peace.

Finally, I would like to thank the Chairman, the staff, the Board Members and theEvaluation Committee Members for their dedication and commitment during the year


Report of Chief Executive Officer

Ned ToomeyChief Executive Officer


Background2

Limerick County Enterprise Board is one of 35 Boards established throughout the State under the Operational Programme for LocalUrban and Rural Development 1994/1999 and given legislative status by the Government under the Industrial Development Act1995. The Board consists of 15 members appointed by the Minister for Enterprise and Employment; these members represent thedifferent interests in County Limerick as follows:

Background 2

“Bread deals with living things, with giving life, with

growth, with the seed, the grain that nurtures. Its

not coincidence that we say bread is the staff of life."Lionel Poilne

The Board held its inaugural meeting on the 5th October, 1993. It was incorporated in the Companies Office as a Company limited by guarantee on the 26th September, 1994.

The raison d’être of County Enterprise Boards was described by the then Minister for Enterprise and Employment, Mr. Ruairi Quinn T.D., at the launch of the CountyEnterprise Initiative in Autumn 1993:

“The objective of the County Enterprise Boards will be strategic, and the fundingavailable to them should provide a new source of much-needed support for localenterprise initiatives. The County Enterprise Boards have been given clear enterpriseand job creation objectives and are responsible for business areas not already coveredby the State Industrial Development Agencies.”

The County Enterprise Boards are funded under the Micro Enterprise measure of theLocal Enterprise Development Priority (Sub Programme) of the NationalDevelopment Plan for the Southern and Eastern Region 2000-2006.

This measure is designed to support the development and competitiveness of localenterprise and promote the move of such enterprise up the value chain. The fundingfor this measure includes support from the ERDF funds.

Under the micro enterprise measure, two different areas of action are prescribedunder which County Enterprise Boards are permitted to issue funding. The twomeasures are as follows:

MEASURE 1Selective Financial Intervention: financial assistance to projects.

MEASURE 2Entrepreneurial and Capability Development: training; promoting an enterprise culture; and mentoring.

• Members of Limerick County Council 4• Social Partners (IBEC, SIPTU, Farming Organisations) 3• Nominees of Agencies (Teagasc, FÁS, Fáilte Ireland, County Manager) 4

• Ministerial Nominees 2• Other Nominees

(Ballyhoura Development Ltd.,West Limerick Resources Ltd.) 2


Structure4

The Board has a total membership of 15 and constitutes a local partnership of elected representatives, the social partners, community representatives, the employers sector and representatives of State Agencies.


Structure4

• Ned Toomey Chief Executive Officer

• Christina Griffin Business Advisor

• Michael Cantwell Assistant Chief Executive Officer

• Róisín Ross Administrative Assistant

Executive and administrative back-up to the Board and theEvaluation Committee is provided by a staff of 4 persons.

• Pat Enright Allied Irish Bank, Newcastlewest

• Finbarr Brougham Shannon Development

• Sean Murphy Business Consultant

• Oliver Killeen Limerick Co. Council

• Mary Rogan Bank of Ireland, Limerick

The Board is supported by an

Evaluation Committee of 5 members,

which makes recommendations to the

Board in relation to applications for

grant assistance. The members of the

Evaluation Committee are:

• James Feane Assistant County Manager

• Mary Fitzgerald Fáilte Ireland

• Shay Riordan West Limerick Resources Limited

• Anne McGovern FÁS

• Michael A. Connelly IBEC/CIF

• Michael Collins Limerick County Council

• Carmel Fox Ballyhoura Development

• Mary Kelly Ministerial Nominee

• Fachtna O’Driscoll Teagasc

• Phyllis O’Halloran Ministerial Nominee

• Noreen Ryan Limerick County Council

• Brigid Teefy Limerick County Council

• Frank Prendergast S.I.P.T.U.

• Mary Harty Limerick County Council

• Liam Woulfe I.C.O.S.

L-R: Sean Murphy, John Doherty, Oliver Killeen, Finbarr Brougham. Missing from photo: Mary Rogan.

Evaluation Committee


Measure 14

The following are the statistics in relation to applications received and processed by the Board during the period 1st January, 2006 tothe 31st December, 2006. While most of the projects approved subsequently went ahead, in some cases the promoter decided not toproceed.

Selective Financial Assistance


Measure 14

Jobs CreatedThe mandate given to County Enterprise Boards includes the creation of jobs, either full-time,part-time or seasonal and the maintenance of employment in existing small enterprises.

The additional jobs created by the Board since October 1993 amounts to 1,064 full-time and 146 part-time jobs (1,137 full-time equivalents). Of these, 20 full-time were created during 2006. Details of all approvals and payments are set out later in the report.

Applications Received 1/1/06 - 31/12/06

Capital/Investment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Employment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Feasibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NilPreference Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

Applications Approved

Capital/Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Feasibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NilOrdinary Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NilRefundable Grant Aid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Applications Paid

Capital/Investment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7Feasibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NilRefundable Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16


4

From 1/01/06 to 31/12/06Approvals


Approvals4

Ref. Name Address Description Amount Aproval Date20002298 Arbutus Foods Ltd. Old Creamery, Ardagh, Co. Limerick Food Manufacturing €25,000.00 25/09/06

20002229 Adare Farm Foods Unit 6B Docklands, Dock Rd. Limerick Pork & Bacon Products €25,000.00 29/05/06

20002117 Carambola Kidz Raheen Food Centre Providers of healthy children’s lunches. €21,000.00 27/03/06

20001929 Design Pro Abbeyfeale, Co. Limerick Automated Machinery €10,750.00 27/03/06

20002123 Insulation Fittment Ltd. Shanagolden, Co. Limerick Manufacture of Insulation Products €66,000.00 23/01/06

20001962 Keane Racing Kilcornan, Pallaskenry, Co. Limerick Motorsport Engineering & Manufacturing €17,000.00 27/03/06

20000285 Patrick Kennelly Ballagh, Abbeyfeale, Co. Limerick Welding Business €7,500.00 23/01/06

20002028 Senator Air Systems Kilmallock Industrial Estate, Co. Limerick Pneumatic Equipment €19,500.00 23/01/06

20000759 Tara Cladding Feohanagh, Co. Limerick Aluminium & Steel €17,500.00 23/01/06

20002109 Wood Pellett Manufacturing Plant. Farran, Tournafulla, Co. Limerick Manufacture of wood pellets €75,000.00 23/01/06

20002299 City Analysts Raheen Industrial Estate, Raheen, Co. Limerick Technical Testing & Analysis €75,000.00 25/09/06

20002242 Limerick Smoke House Hospital, Co. Limerick Smoked Cheese €22,500.00 29/05/06

20002239 Schaffner Plassey Technological Park, Castletroy, Co. Limerick Electricity Recycling Test Equipment €7,750.00 29/05/06

Total €389,000.00

CAPITAL


Approvals

Ref. Name Address Description Amount Approval Date20002156 Cecelia O’ Neill Oaklane, Castleconnell, Aviation Training €6,000.00 25/09/06

20001110 Irish Tourism.com Killarney Rd. Newcastlewest, Co. Limerick Overseas Tourism Products €12,000.00 29/05/06

20002297 Action Point Software Ivy House, Mungret, Co. Limerick Software Contracting and IT Services €6,000.00 25/09/06

20001101 BB Net Ballingarry Rd, Adare, Co. Limerick Broadband Provider €6,000.00 27/03/06

20002278 Avril Wester 74 Salmom Weir, Annacotty, Co. Limerick Books for those with Special Needs €6,000.00 24/07/06

20002101 Niall Jordan 1 Caisleain na hAibhainn, Castletroy, Co. Limerick Hoppittravel.com €8,000.00 24/07/06

20002241 Orla French 14 The Oaks, Riverbank, Annacotty, Co. Limerick International Tour Operator €6,000.00 29/05/06

Total €50,000.00

EMPLOYMENT

Ref. Name Address Description Amount Approval Date20000867 Abbey Moulding Abbeyfeale Industrial Estate Light Engineering €19,000 04/12/06

20000612 Doody Engineering Abbeyfeale, Co. Limerick Engineering €30,000 04/12/06

20002274 D- Tops Ltd. Station Rd, Newcastlewest, Co. Limerick Non Metallic Mineral Products €51,430.00 24/07/06

20000793 I.M Tech Ltd. Unit 3 Eastway Business Park, Limerick Manufacturer of Semi Conductor Industry €33,500 13/03/06

20000419 Kearney’s Homebaking Ballyhahill, Co. Limerick Home Bakery Products €15,000.00 25/09/06

20000813 Rivervalley Foods Garravane, Rearcross, Co. Tipperary Food Processing Business €7,850.00 25/09/06

Total €156,780.00

REFUNDABLE GRANT AID


4

By Category: 01/01/06 - 31/12/06Payments


Name Project Amount Paid in 2006Patrick Kennelly Welding Business €7,500

Tara Cladding Aluminium & Steel Cladding €17,500

Design Pro Automated Machinery €10,750

Wood Pellet Manuf. Plant Manufacture of Wood Pellets €74,500

Adare Farm Foods Pork & Bacon Products €25,000

City Analysts Ltd. Technical Testing & Analysis €74,000

Alana Foods Food Ingredients €32,102

Total €241,352

CAPITAL INVESTMENT

Name Project Amount Paid in 2006BB Net Broadband Provider 3,000

Niall Jordan Hoppittravel.com 4,000

Irish Tourism.com Ltd. Overseas Tourism 3,000

Cecelia O’ Neill OES International Aviation Training 3,000

Avril Webster Manufacture of Books for those with Special Needs 3,000

Action Point Software 3,000

Total €19,000

EMPLOYMENT

Name Project Amount Paid in 2006J&M Fruit & Veg. Wholesale distributor of fruit and vegetables 5,000

I.M Tech Ltd. Semi Conductor Industry 32,976

D-Tops Ltd. Non Metallic Mineral Products 51,430

Total €89,406

REFUNDABLE ACCOUNT


Measure 2 4

Selective Financial AssistanceThe following are the statistics in relation to applications received and processed by the Board during theperiod 1st January, 2006 to the 31st December, 2006. While most of the projects approved subsequently wentahead, in some cases the promoter decided not to proceed.


Measure 22

2006 was another busy year for the Board in the areas of Training, ManagementDevelopment and Enhancement of the Entrepreneurial Culture. 475 peopleparticipated in a total of 28 programmes – on topics such as Start Your Own Business;Computerised Accounts; Time Management; Stress Management; Pricing and Costing;and Women in Business. A total of ¤226,675 was invested by the Board in organisingthese range of activities, and the Board is satisfied that it was money well spent.

The following is a more detailed summary of some of the activities organised during 2006.

Start your Own Business Course:These courses are always very popular and are designed as a launch point for peoplewho are thinking of starting a business. Run over five evenings, the course coverstopics such as Business Planning, Market Research, Finance, Registering the Business,and Legal Frameworks. Seven of these programmes were organised by the Boardthroughout the county, with an average attendance of 12 participants per course.

Women In Business:The Women in Business network has continued to grow and develop, with over 600registered participants by the end of 2006. A total of eight meetings were organisedat the Woodlands House Hotel during the year, with an average attendance of 40women. The meetings are designed to promote networking between like-mindedbusiness women, and each meeting includes a one-hour presentation on a businesstopic. Ms. Dolores McCarthy continues to act as coordinator for the programme.

Strategic Management Development Programme:While the Board had delivered this programme before, in 2006 we decided to take adifferent approach in an attempt to make the programme more meaningful forparticipants. Rather than contracting out the programme to one consultant, theBoard contracted the services of three specialists (specialising in the areas of Salesand Marketing, Finance, and Human Resource Management respectively). Theapproach used ensured a balance between group work shops and one-to-onementoring, and the feed back from participants was very positive.

Student Enterprise Awards:A total of 880 students from Secondary Schools around the county participated inthe two events organised at the Woodlands in 2006. The first was the county final,which was held in March, and our guest of honour was TV personality Ms Síle Seoige.Síle met with all of the participants and posed for photographs with them, whichmeant a lot to the students.

The winners of each of the categories were as follows.Junior: Irish Cottage Industries, Castletroy College.

Intermediate: Typists Best Friend, Gaelcholaiste Ui Chonba, Newcastlewest, Co. Limerick.

Senior: Glenball YE Ltd., Glenstall Abbey.

The second event was a Student Enterprise day held in October 2006. The mainfunction room at the Woodlands was packed to capacity with students who came to


listen to presentations from Michelle O’Dwyer on Marketing, Liam Woulfe onBusiness Planning, and David O’Donovan from Eight Ball Promotions on his personalexperience at starting his own business. The day was a great success and enjoyed byboth teachers and students alike.

Third Level ProgrammesFollowing a request from the Limerick College of Art and Design for practicalbusiness advice and mentoring support for their 4th year students, the Board wasdelighted to contract Mr. Terry Harmer to work with students and develop theirselling skills. In addition, staff from the Board also addressed groups of students onbusiness planning at the Limerick College of Art and Design and at Limerick Instituteof Technology. The Board also supported 4th year food science and food technologystudents at University College Cork and sponsored their new food productdevelopment competition, which was held in the Spring of 2006.

Shop Exhibition and Trade FairFollowing on from the success of IFEX in 2005, a number of Enterprise Boardscombined resources to take a large stand at the SHOP food and beverage trade fair inthe RDS Simmonscourt, Dublin. Four County Limerick food businesses attended, andthey all reported that they attracted significant business at the event.

In ConclusionLimerick County Enterprise Board remains committed to developing and delivering awide range of supports that are relevant and meet the requirements ofOwners/Managers of SME’s throughout the county. The suite of courses offered in2006 was also complemented by a range of technical assistance measures, which

covered areas like Health and Safety, Website Development, Market Research andBusiness Planning. Other courses – such as Computerised Accounts, UnderstandingAccounts, Dealing with Banks, Employment Legislation, and Taxation for SelfEmployed – are designed to ensure that client businesses have up-to-date management information and, of course, remain compliant with allcurrent legislation.


In 2006 the Board introduced a number of initiatives in its Entrepreneurial andCapability Development Programme. A training programme in Sales andMarketing was developed for the studentsof the Limerick School of Art and Design.This programme is designed to enhance the students’ commercial skills.

Limerick School of Art and Design

In 2006 the Board introduced a number ofinitiatives in its Entrepreneurial andCapability Development Programme. Atraining programme in Sales and Marketing was developed for the students of theLimerick School of Art and Design. Thisprogramme is designed to enhance thestudents’ commercial skills.








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