NEW YORK--(BUSINESS WIRE)--The well-told story of Ireland’s contribution to North America business has acquired a new chapter that reflects the global economy and Ireland’s role as an international force of innovation, entrepreneurship and investment. Enterprise Ireland, the Irish government agency for international development of Irish businesses, reports record employment and job growth among Irish businesses operating in America.
In the past year, Enterprise Ireland-supported companies opened 59 new offices in the US, an 18% increase over 2016. Locations included New York, Massachusetts, New Hampshire, Texas, Missouri, Colorado, Washington. Additionally, 2017 saw a total of 181 Irish start-up organizations receive support from Enterprise Ireland.
As of January 2018, almost 800 Irish-owned companies operate across all 50 states employing over 100,000 people. The companies cross a broad range of industries including construction, education, energy, environmental, medical devices and software. According to the United States Bureau of Economic Analysis, in 2017 the value of Ireland’s foreign direct investment (FDI) was calculated at over 85 billion USD, ranking Ireland the 9th largest source of FDI.
“The strong employment figures of Irish businesses operating in the United States show depth of engagement and confidence in this market," said Julie Sinnamon, CEO, Enterprise Ireland. “Irish businesses are partnering with U.S. business and putting feet on the ground to support those partnerships. I am especially encouraged by the diverse range of businesses and the high rate of innovation common to those partnerships.”
Today, Enterprise Ireland operates from New York; Boston; Austin, TX, Chicago, Il and Mountain View, CA. The organization is the third largest venture capitalist in Europe by deal count. In addition to funding support, Enterprise Ireland also provide services including export assistance, assistance with research and development as well as a broad network of key global industry-specific contacts.
“Ireland and the United States enjoy a very successful trade relationship that stretches back for many decades and brings significant benefits to both countries. Hundreds of Irish owned companies support more than 100,000 jobs across the United States in firms ranging from start-ups to major corporations. During my St. Patrick's Week trip to the U.S., I intend to meet with a number of these companies as well as discussing the importance of the Irish-American relationship with senior US decision makers.” added Leo Varadkar, Ireland’s Taoiseach (Prime Minister).
The organization has strong expertise in the medical technology, pharmaceutical, construction and software markets among others. Globally, Ireland is the second largest exporter of software products and accounts for over 60 billion dollars in annual exports.
For Irish firms currently looking to export into the U.S. market, Enterprise Ireland has launched a new Market Discovery Fund for client companies. The fund is designed to provide financial support for a physical presence in-market including offices, participation in trade events and market research.
About Enterprise Ireland
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland.