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UnitedHealth Group investment a welcome boost to North West

UnitedHealth Group investment a welcome boost to North West

Thursday, 15 July 2010   UnitedHealth Group is to expand its Letterkenny operations with the creation of 200 new jobs.  The firm has had a presence in Donegal since 1999 and this new investment will bring employment at the plant to over 560

Joanne Richardson, Chief Executive of the American Chamber of Commerce in Ireland today congratulated the Irish management team on their success in securing this significant investment for Ireland and the North West.

"This is a fantastic investment for the North West and is a very welcome economic and employment boost to the region.  I congratulate the management and employees of UnitedHealth and wish them continued success in Ireland".

"What is notable about the North West Region is the presence of a cluster of US multinational companies which are long established in the region and the success these companies have in securing new investment.  UnitedHealth Group, Abbott and Pramerica to name just a few, are all very significant employers which have been in the Northwest for many years. UnitedHealth Group's operations were established 11 years ago, Abbott has had a presence here since the early 70s while Pramerica recently celebrated 10 years in Donegal and has grown from 100 to 700 people in that time", she said.

Mr. Henry McGarvey, Chairman of the American Chamber North West Region also welcomed today's announcement by UnitedHealth and said it indicated the attractiveness of the North West for foreign direct investment.

"The North West Region has much to offer multinational companies and will continue to win new investment if it remains cost competitive and can provide the infrastructure and skilled people required by the multinational sector.  The completion of Project Kelvin, for example, is very welcome in this regard and provides part of the critical infrastructure necessary to support FDI in the services sector.

"In addition, the combination of a lower cost of living and higher quality of life are very attractive to people looking to relocate from other more expensive cities across the globe. Attracting these skilled people will increase the overall attractiveness of the region for foreign direct investment", he said.

A Fortune 100 company, UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare, Ovations, AmeriChoice, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves 75 million individuals worldwide.

About the American Chamber of Commerce in Ireland

Today, almost 100,000 people are directly employed[i] in over 600 US firms in Ireland[ii] accounting for 70% of all IDA supported employment[iii]..  The IDA announced 130 new and expansion projects with companies during 2008[v]. Almost two out of every three foreign direct investment projects coming to Ireland in 2008 have originated from the US. In 2008, US firms paid over €2.5b to the Irish Exchequer in Corporate Tax (or approx 40% of total corporate tax take in 2008[vi]) and contributed a further €13b in expenditure to the Irish economy in terms of payrolls, goods and services employed in their operations[vii].   There are 31 multinational companies employing over 5,000 people in the North West Region.

 [i] Source: IDA Jan 2009 from a Forfas Employment Survey, plus an estimated 6,000 working in non-grant aided US businesses in Ireland.

[ii] American Chamber Database

[iii] IDA Annual Report 2007

[iv] American Chamber Estimate

[v] From IDA Press office based on the IDA's Annual Report

[vi] Amcham estimate based on IDA End of Year Statement 2008, issued Jan 2009 at 85% of total.

[vii]. Based on the 2007 Annual Business Survey of Economic Impact, and an American Chamber estimate of approximately 80% of total agency assisted firms being of US origin.

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For further information please contact: Laurie Mannix, MKC Communications, 086 8143710