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WIF – 20 Years of Impactful investing

Delivering significant impact in the Western region. Companies supported by the Western Investment Fund have achieved major success in Irish and export markets.

Introduction

Companies supported by the Western Investment Fund have achieved major success in Irish and export markets. Over the period 2001 to 2020, over €61 million has been invested/lent by the WIF across the region. This has resulted in an impressive contribution to economic activity in the Western Region and has made a significant contribution to the national economy.

The Western Investment Fund has had a significant economic and social impact on the Western Region since its inception. The empirical evidence examined show that over the 20 years from 2001 to 2020 companies supported by the WIF have:  

  • Generated over €2.23 billion in direct revenues, including over €1.6 billion in exports;  
  • Generated over €1.06 billion in gross value added (GVA); and 
  • Made over €276 million in exchequer tax contributions.

3.28b

Economy-wide impact

1.07b

Direct Gross Value Added

276m

Financial return to the Exchequer

2,800

Companies and organisations directly supported

Breakdown of Projects Supported by Sector (2001 – 2020)

Business Investment Impact

The Business Investment Fund (BIF) is the largest of several WIF sub-funds, accounting for over 40% of projects and over 76% of the amount disbursed. This fund provides equity investment and loan finance to SMEs in the Western Region.

  • In 2020 companies and organisations supported by the WIF directly supported almost 2,800 FTEs directly, with economy-wide employment of almost 5,300 supported through indirect and induced effects.  
  • When employment in companies supported by enterprise centres that the WIF has invested in is included, the WIF is estimated to have supported between 5,500 and 6,000 FTEs in the wider economy in 2020. 

 

Without the support of the Western Development Commission, we wouldn’t be here. They took a share in the business and gave us a loan. They were essential, without them we wouldn’t have been able to set up the factory.

Marjorie O’Malley
The O'Malley family
The O'Malley family of Achill Island Sea Salt

Community Investment Impact

The fund has enabled almost 100 social enterprises and community organisations, the vast majority (95%) in rural areas, to develop new facilities, offer new services/events to their communities, refurbish existing facilities, retain existing members and attract new members. Many of the organisations and projects funded are multi-purpose community facilities and are linked to enterprise space, sport and recreation, childcare and other users.

Lough Ree Access for All

Creative Investment Impact

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Artist Johnny McCabe in his studio and gallery at Donegal Craft Village.

Wider Socio-Economic Impact

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Dingle by Florian Walsh
Regional Development
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Couple looking out onto lake with mountains in the background
Fostering an enterprise ecosystem
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100

Social enterprises and community organisations enabled to develop new facilities and services

80%

of respondents indicated that there was a benefit supporting the retention of graduates

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OUR INVESTMENT TEAM

How we help

The experienced team led by Investment Manager Gillian Buckley are here to help, support and guide you through the application process. We have staff in 3 regional offices Sligo, Roscommon and Galway.