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70 companies have invested in Ireland as a result of Brexit

Written by Robert McHugh, on 19th Mar 2019. Posted in Ireland

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Latest figures from Ireland’s Foreign Investment Agency, IDA Ireland have shown that 70 individual investments related to Brexit, with over 5000 associated jobs, have been approved since the UK’s EU referendum in June 2016.

In January 2018, IDA Ireland announced record results with nearly 230,000 people now employed in FDI companies. Dublin remains the most popular choice for financial services firms to relocate post-Brexit according to EY’s Brexit Tracker. 

To date in Ireland companies that have announced investments connected to Brexit include Barclays, Morgan Stanley, TD Securities, Wasdell, Delphi /Aptiv, Simmons & Simmons, S&P Global, Thomson Reuters, Equilend and Coinbase etc.

The IDA claims increased transaction costs, fears about regulatory divergence and tariffs are amongst the concerns expressed by investors. 

Speaking last week, CEO of IDA Ireland, Martin Shanahan said, "These updated figures are another reminder of how our European Union membership and stable pro-enterprise policies are appealing to investors who are looking for certainty. For US companies with ambitions to be global players, Ireland is a natural fit for their international operations."

Source: www.businessworld.ie

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