Ireland has been named as the number one destination in the World for US Foreign Direct Investment (FDI) by the American Chamber of Commerce Ireland.
A report commissioned by the organisation, Irish-US Economic Relationship 2015, was launched yesterday by Minister for Foreign Affairs and Trade, Charles Flanagan, TD. The report was researched and written by Wall Street Economist Joseph Quinlan.
The report shows that there are 130,000 people employed by the 700 U.S. companies in Ireland, US companies have invested over $277 billion in Ireland since 1990, exports from US companies in Ireland are four times higher than from China.
It is estimated that US companies have invested over $277 billion in Ireland since 1990.
President of the American Chamber of Commerce Ireland, Eamonn Sinnott said, "This report tells the story of how the Irish US economic relationship has gone from strength-to-strength in recent years. It has been and will continue to be a significant bright spot in our economy. Today there are 130,000 people employed by the 700 U.S. companies in Ireland. The stock of investment by US companies in the Irish economy now stands at over $240 billion. Thankfully investment is continuing with 140 new investments announced last year, 60 of which were from companies investing in Ireland for the first time."
The author of the report, Joseph Quinlan, predicts Ireland will continue to benefit from the strength of this relationship concluding, "The critical task in front of Ireland is ensuring its place in the high-end, value-added chain of multinationals, notably in services and evolving technologies that will change the nature of work and production.
The race to remain globally competitive never ends. Unlike many nations in Europe, Ireland understands this dynamic all too well.
Rising to the challenge is something Ireland excels at, with the nation's economic rebound in the past year just one more piece of evidence of Ireland's dynamic economic character. The Irish-US economic relationship is expected to remain robust and mutually beneficial."
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