Ireland's Most Important Economic Relationship
Today, over 150,000 people are directly employed in over 700 US firms in Ireland accounting for over 74% of all IDA supported employment.
Collectively US investment in Ireland amounts to $343bn an increase of 22.8% from 2014. Ireland, which represents just 1% of the European economy, attracted 11.6% of all US FDI investment to Europe in 2016
Ireland’s economic growth rate was one of the strongest in the world in 2015 and remains one of the prime destinations for US foreign direct investment.
Irish companies in the US have generated $90bn in sales from their US operations in 2014 and $35bn in US economic output.
Irish companies employ nearly as many Irish people in the US as do American companies here. There are 227 companies at over 2,600 locations, in all 50 States across the USA.
US firms contribute €3bn to the Irish Exchequer in taxes and an additional €13bn in expenditure to the Irish economy in terms of payrolls, goods and services employed in their operations.
The total employment at overseas companies in Ireland now stands at 199,877 people, the highest level on record. In 2016 IDA client companies created just under 19,000 (18,627) jobs on the ground during the year across a range of sectors, with every region of Ireland posting net gains in jobs. Of the 242 investment announcements made by the IDA, 74% are US based.
Latest figures show US figures exported in excess of €100bn of products and services from Ireland into world markets.
The US is one of Ireland’s top export destinations with total bilateral trade in goods and services 2014 (exports to + imports from the US) worth over €61bn.
US firms in Ireland form a critical part of Ireland’s cutting edge, internationally traded goods and services economy in industries such as information & communications technology, biotechnology, pharmaceuticals, medical technologies and financial services.