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Trade mission seeks business in Texas

Tuesday, March 05 10:47:27

The Minister for Jobs, Enterprise and Innovation, Richard Bruton departs today on a 4-day trade mission of 40 innovative exporting Irish companies to Texas.

Over the course of the 4-day Enterprise Ireland programme, they will attend over 20 trade events and meetings in Houston, Dallas and Austin, as well as holding meetings with multinational companies already investing or considering investing in Ireland.

Over the last decade the State of Texas has become the USA's second-largest economy - displacing New York and challenging California. It is now the 15th-largest economy in the world, roughly the same size as Spain, with a high concentration of telecoms, banking, social media, electronics, cleantech, medical device, network and web companies. Economic shifts towards southern US states offer significant opportunities for Irish companies seeking to expand their presence in the US, or grow exports to new markets.

This is the 13th major trade/investment mission that Minister Bruton has undertaken in 23 months. Total global Irish exports in 2011 were 10pc higher than in 2007, the highest pre-crisis figure. In the first 9 months of 2012 total exports were up 6pc on the same period in 2011. Exports of Irish-owned companies to the US are experiencing strong growth and total Irish exports to the US are now worth E18.1bn per year.

Companies travelling on the trade mission include high-growth start-ups with fewer than 10 employees to more established Irish companies employing hundreds of people, in sectors including ICT, high-tech manufacturing, education and training, and financial services.