There are now 950 American companies in Ireland that employ 376,000 people, according to a new report by the American Chamber of Commerce Ireland.
The AmCham 2023 US Ireland Business Report shows that this is comprised of 209,000 direct jobs and 167,000 indirect jobs which generates more than €31 billion in the Irish economy annually.
This report was launched this week at its 2023 Global Business Conference in Croke Park.
The event was sponsored by Bank of America, with the Irish Times as the official media partner and the US Chamber of Commerce as the US partner. Those in attendance included Minister for Enterprise Trade & Employment, Simon Coveney, US Ambassador to Ireland, Claire D. Cronin and Ireland’s Ambassador to the US, Geraldine Byrne Nason.
9th largest FDI investor in US
Ireland is the 9th largest FDI investor in the US with 650 companies employing over 100,000 people across all 50 States. The report showed 64% of respondents said they expect the number of employees in their Irish operations to increase over the next 12 months, while 31% expect to maintain current numbers and just 5% expect to see a decrease in employee numbers.
Meanwhile, 78% of respondents said the number of employees in the Irish operations had increased over the last 12 months.
AmCham members identified housing as the most important challenge for Ireland to overcome in order for their company to expand in Ireland. Skills shortage was identified as the second greatest challenge while maintaining R&D tax incentives was the third greatest challenge.
'Opportunity that flows'
"AmCham has always been clear that the future of inward investment will be as much about where people want to live as where companies want to locate," said Mark Redmond, CEO, American Chamber. "Growing numbers of people want to live in Ireland, some to have a great career and quality of life, others to find respite from war and inequality.
"Our members recognise the opportunity that flows from diversity of thought and talent, their teams are truly global, that is why they are so brilliant at serving global markets from Ireland.”