FINANCE Minister Michael Noonan has praised two city businessman who have just unveiled plans to create 50 new jobs in Plassey.
Action Point is to create 50 jobs over the next three years.
This was unveiled at a special event in the Kemmy Business School.
Founded by UL graduates David Jeffreys and John Savage, Action Point exists to provide software development solutions to other companies to make them more efficient.
This weekend, the company will have a hand in the MTV Movie Awards - as it is their autocue technology which will be used at the gala event.
The jobs will mostly be created in the software development side of the company’s operation, with the creation of seven jobs set to be finalised.
The remainder of the positions will be filled between now and 2015.
Praising the founders, Mr Noonan says: “This announcement is based in the skills and competencies of two young UL graduates. It’s an Irish effort, Irish owned and Irish backed. These are the jobs we need. But it gives great hope to other people with creative ideas.”
He added that this type of announcement must form the bedrock of future investments.
The focus must be away from foreign investments, the Minister added.
“What is so interesting about this announcement is that it is not people from California setting up in Limerick, or people from other far away places. This is two college graduates from UL who have entrepreneurial skills, who founded the company. This is great news: this is exactly what we need. We must reach a point where we cannot rely on inward investment alone, otherwise we will always be importing,” Mr Noonan said.
Mr Jeffreys took the opportunity of an audience with the Finance Minister to call on him to consider a 50/50 grant for all small businesses, coupled with a loan.
“While Government cannot wave a magic wand due to the current financial constraints, I would love to see a day when Government could provide an entitlement to every small business in Ireland for just a single employment grant, where half was repayable and half was grant aided: you would reduce the financial burden and reduce the risk placed on the small business owner while simultaneously creating thousands of jobs,” he told the audience of local business owners, and political representatives.
In response, Mr Noonan said this could be considered.
“I will run this by [Enterprise Minister] Richard Bruton, because we are in the business of growing the economy, listening to people, and if we come across good ideas and think they will work, we will put the good idea into place,” he said.
Altogether, Action Point works with 89 companies.
These include Dell Computers, the Shannon Foynes Port Company and the Kirby Group.
They will also be providing teleprompting services for the MTV Movie Awards this weekend.