American Chamber has excellent access to Irish and European public policy networks, opinion leaders and leading media commentators. Through participation in Working Groups and contributions to submissions for Government, the Chamber keeps Irish decision makers focussed on the factors contributing to the continued attractiveness of Ireland as a location for foreign direct investment. More about the Chamber

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US Investment in Ireland

The Irish Government actively promotes Foreign Direct Investment (FDI), a strategy that saw total FDI stock grow to $190 billion in 2010. The Irish Government’s actions have had considerable success in attracting investment with 126 major announcements in 2010 creating 11,000 new jobs, 74% from the US.

Up to the recent past, the principal goal of state investment policy has been employment creation, especially in technology-intensive and high-skill industries. More recently the Irish Government has increasingly supported efforts by foreign-invested companies to sustain their international competitiveness through R&D enhancements, productivity improvements and the marketing/sales of higher-value goods and services.

Since 2005, Ireland emerged as a magnet for US internet/digital media investment, with industry leaders Yahoo, eBay, PayPal, Google, Amazon, Facebook and LinkedIn making it a significant hub for their European operations. Ireland’s evolution as a significant knowledge economy is evidenced in the sophistication and complexity of the investments into Ireland during 2010. US companies continued to invest in Ireland in 2010, representing approximately three quarters of all IDA announcements.  US companies announced investments of approximately €350 million in research, development and innovation projects.  Major expansion projects have been announced by US firms such as eBay and Hewlett Packard, United HealthCare and MSD, Hertz and Citi to name just a few. Meanwhile new investment was secured representing all of the key sectors, such as services in D&B, new media in EA Games, and Warner Chilcott in life sciences.

The key reasons for Ireland’s attractiveness as an export platform to the rest of the EU and international markets include:

• a 12.5% corporate tax rate for domestic and foreign firms alike
• the quality and flexibility of the English-speaking work force
• cooperative labour relations
• political stability with sustained pro-business Government policies
• a transparent judicial and taxation regime; and
• the pulling power of existing companies operating successfully in Ireland (a “clustering” effect).

Today, nearly 100,000 people are directly employed in over 600 US firms in Ireland accounting for 70% of all IDA supported employment. US companies have a $190 billion cumulative stock of investments in Irish based operations.

In 2010, US firms paid an estimated €3 billion to the Irish Exchequer and contributed a further €15 billion to the Irish economy in terms of payrolls, goods and services expenditure in their operations.

The US is Ireland’s top export destination with total bilateral trade (exports to + imports from the US) worth €23 billion for the last full year. US firms themselves export an estimated €93 billion of products and services from Ireland into world markets.

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. 

US COMPANIES CONTINUED INVESTING IN IRELAND IN 2010

Company
Location
Description
StreamServeGalwayEstablishing an inside care and customer service operation
PayPalDublinFurther recruitment as part of ongoing expansion of customer service operations
D&BDublinNew business operations centre
HertzDublinNext Generation Shared Services Centre in Dublin
Hewlett PackardDublinRecruitment of technical support staff for customers
eBayDublinExpansion of European Centre of Excellence
LinkedInDublinOpening a new international headquarters in Dublin
IBM IrelandDublinEstablishing a Smarter Cities Technology Centre
CitrixDublinExpansion of EMEA Customer Technical Support Centre
DellLimerickExpansion of support operations in both Dublin & Limerick
United Technologies CorporationCorkNew energy and security research centre
GE HealthcareDublinInvestment in R&D with Several Irish Universities
MSDDublinEstablishing Hub for newly established Shared Business Service Centre
SAP Business ObjectsDublinAdditional Recruitment in telesales operation
WebrootDublinNew International Headquarters
EA GamesGalwayOpening a new European customer service and operations center
AOLDublinNew software engineering jobs at its development centre
MFG.comLouthNew EMEA Operations Centre
LinkedInDublinCreation of new positions in finance management
Spencer StuartDublinEstablishing a Global Technology and Knowledge Centre
Stream Global ServicesDublinExpansion of existing operations
Analog DevicesLimerickInvestment in R&D
FCStoneDublinNew European Headquarters
Merit MedicalGalwayEstablishing Centre of Operations
Eli LillyCorkEstablishing a European Financial Services Centre
Genworth FinancialShannonNew recruitment in operations divion
United HealthcareDonegalExpansion of claims handling operations
Riot Games IncDublinNew Emea Headquarters
LumensionGalwayGlobal R&D Centre expanded
CovidienDublinOpening new European Service Centre
KelloggDublinNew European Centre of Excellence
GoogleDublinNew Operations Centre
AOLDublinAdditional recruitment in software development
FiTekDublinEstablishing a new European HQ
OtterboxCorkNew EMEA HQ
D&BDublinFurther recruitment to new HQ
Salesforce.comDublinExpansion across a range of business areas
Hollister ULCGalwayMajor expansion in manufacturing capacities
SynchronossGalwayNew R&D and Operations Centre
Global Indemnity PLCCavanNew IT Development Operations
Industrial Info ResourcesGalwayNew European Operations Centre
AccentureDublinOpening a new analytics centre
GenbandGalwayNew Business Service Centre
Kemp TechnologiesLimerickEMEA HQ
Rockwell AutomationCorkWorkforce Expansion
AspectsGalwayFacilities in Customer support & shared services
CitiDublin & waterfordNew Sservices and product development roles
HPGalwayIncrease in software r&D Capacity
ZeusDonegalExpansion of operations

 

Source: IDA Ireland and the American Chamber Media Watch