Ireland's 2017 foreign direct investment (FDI) into the United States was $85 billion, ranking Ireland the 9th largest foreign direct investor into the United States.
Today, Ireland's Taoiseach (Prime Minister) Leo Varadkar, hosted a discussion bringing together top executives from Irish firms responsible for the creation of a combined 50,000 jobs in the United States. The roundtable explored business opportunities facing Irish businesses operating in the United States, how the Irish government can support investment and growth in the United States and ideas for advancing partnerships with United States business.
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(Graphic: Business Wire)
The meeting was also attended by Daniel Mulhall, Ambassador of Ireland to the United States, Julie Sinnamon, CEO of Enterprise Ireland, the Irish government agency for international development of Irish businesses, and Sean Davis, Regional Director, North America for Enterprise Ireland.
"Today I had the opportunity to meet with leaders from many of the most dynamic, successful Irish firms operating in the United States. These firms represent a diverse array of industries but share a strong commitment to U.S. investment. They employ thousands many in high-value positions here in the United States and are outstanding examples of the positive impact of Irish investment," stated Varadkar.
Among the executives in attendance were senior representatives of CRH Oldcastle, one of the world's leading building products and materials companies that today has over 1,700 operations across 43 states; Kerry, a global food maker with sales of over six billion USD and multiple manufacturing operations across the U.S., and Kingspan, a leading manufacturer of building materials. Also in attendance were research company Icon PLC, which employs 13,000 people globally and 4,600 high-skilled associates in 15 offices across the United States, and plans to open a new 40-person office in downtown Boston this month.
In 2017, Enterprise Ireland-supported firms opened 59 new operations in the U.S., an 18% increase over 2016. As of January 2018, there are almost 800 Irish-owned businesses operating across all 50 states employing 100,000 people. Earlier this week, Wisetek, an IT asset disposal company, announced its fourth location in Austin Texas, doubling its U.S. based work force with the creation of up to 25 new positions. Glanbia, a global nutrition company announced a new $400 million production plant which will be constructed in Michigan and is expected to be open by 2020.
According to a 2016 study by the U.S. Bureau of Economic Analysis, Ireland's 2017 foreign direct investment (FDI) into the United States was $85 billion, ranking Ireland the 9th largest foreign direct investor into the United States.
"The leaders who joined us today shared ambitious plans to increase investment in the U.S. as central elements of their respective growth strategies. This gathering demonstrates what is possible when strong Irish companies invest in the U.S. market," stated Julie Sinnamon, CEO Enterprise Ireland.
Enterprise Ireland is the Irish State agency for the international development of Irish businesses. The organization operates from New York; Boston; Austin, TX; Chicago; and Mountain View, CA. and is the third largest venture capitalist in Europe by deal count. In addition to funding support, Enterprise Ireland also provides services including export assistance, assistance with research and development as well as a broad network of key global industry-specific contacts.
The organization has strong expertise in the medical technology, pharmaceutical, construction and software markets, among others. Globally, Ireland Is the second largest exporter of software products and accounts for over 60 million dollars in annual exports.
About Enterprise Ireland
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland's international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland.
Daniel O'Connell, (212) 660-2555 Ext. 12