US companies remain the largest investors in Ireland, with some US$146 billion invested in the country and in the last year alone they have created more than 2,000 jobs in 30 investments by firms like HP, Facebook and Boston Scientific.
The figures were revealed yesterday by the American Chamber of Commerce, which welcomed the news that Maxim Integrated products is to establish an operation in Ireland that will employ 100 people.
Jobs, jobs, jobs
“This year alone we have had over 2,000 new jobs announced as a result of 30 new investments by US companies in Ireland, including HP announcing 500 new jobs for Kildare, Boston Scientific investing €91 million in R&D with the creation of 45 jobs, IBM investing €100 million in the creation of 100 jobs, Intel creating 134 jobs with a €50-million investment in R&D, as well as Facebook, PayPal, Abbott and others,” said Joanne Richardson, chief executive, American Chamber of Commerce in Ireland.
“Maxim Integrated Products is a research-driven company which holds multiple patents and industry awards for its inventions and will contribute to Ireland’s base of knowledge-driven companies,” Richardson said.
Today, almost 100,000 people are directly employed in more than 580 US firms in Ireland, accounting for 70pc of all IDA-supported employment.
The US here represents 8pc of all US investment in the EU and 4.6pc worldwide. The IDA announced 130 new and expansion projects with companies during 2008. 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 more than €2.5 billion to the Irish Exchequer in corporate tax (40pc of total corporate tax take in 2008) and contributed a further €13 billion in expenditure to the Irish economy in terms of payrolls, goods and services employed in their operations.
By John Kennedy
Photo: Barry O’Leary CEO IDA Ireland; Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD; and Ed Medlin, vice-president, senior counsel, Maxim Integrated Products.
Photo by Conor McCabe/Jason Clarke Photography