Ireland INC navigates the next chapter for Irish business in US at Ireland Day in NYSE
Pictured at the New York Stock Exchange: Ireland INC, ringing the Opening Bell: (Front row, left to right) Dame Louise Richardson, President, Carnegie Corporation of New York; Ben English, Co-Founder & Executive Director, US-Ireland Partnership for Growth; U.S. Ambassador to Ireland, Claire Cronin; Ian Hyland, President, Ireland INC; Minister Helen McEntee, Minister for Justice of Ireland; Lynn Martin, NYSE President; Michael Lohan, CEO, IDA Ireland; Consul General Helena Nolan, Consulate General of New York; (Back row, left to right) Danny McCoy, CEO, Ibec; Mike Burke, Partner, Arnall Golden Gregory; Caitriona Fottrell, President & CEO, The Ireland Funds; Paul Connolly, Director, Bondi Partners; Joe Kennedy III, Special Envoy to Northern Ireland for Economic Affairs; Tracey Carney, Managing Director, Ireland INC and Leo Clancy, CEO, Enterprise Ireland.
Ireland INC, the engagement platform promoting Irish business investment across the United States, hosted a leadership breakfast in partnership with the New York Stock Exchange yesterday.
The event took place at the 12th annual Ireland Day at the New York Stock Exchange where business and political leaders gathered to discuss Irish US trade issues. Topics included navigating obstacles to increase further investment and reinforcing the unique two-way highway marking 100 years of diplomatic and economic relations between the United States and Ireland. The continued expansion of Foreign Direct Investment was explored as well as factors to help drive business growth for Irish and US companies.
They also discussed furthering the collaboration and partnership between business and political stakeholders. Ireland Day, the only recognised Country day at the NYSE, was established as a C-Suite forum to promote Irish business interests globally.
Trading floor at NYSE for Ireland Day opening bell ring.
Roundtable
The Roundtable was chaired by Ian Hyland, President of Ireland INC, who was joined by Helen McEntee, Minister for Justice in Ireland; Claire Cronin, US Ambassador to Ireland and Joe Kennedy, Special Economic Envoy to Northern Ireland along with US and Irish Business & Political Leaders.
Speaking at the New York Stock Exchange, Ian Hyland, President Ireland INC, said: ““Ireland Day 2024 provides a significant engagement platform for US and Irish business and political leaders at the New York Stock Exchange, and marks the beginning of St. Patrick’s Week across the United States. Now in its twelfth year, this year’s Ireland Day comes at a time of celebration, as we commemorate 100 years of diplomatic and economic relations between Ireland and the United States and reflect on the progress of Irish businesses’ investment footprint across all fifty States.”
He added, “Ireland INC works with and promotes Irish businesses, representing over 350,000 jobs across the United States, and the Ireland Day Leadership Breakfast is now established as a vitally important and substantive gathering of leaders with the aim of elevating this unique relationship”, he continued.
Ian Hyland, President Ireland INC being interviewed by Judy Shaw, host of NYSE Floor Talk.
Minister for Justice, Helen McEntee, said at the breakfast, “I wish to reassure you on behalf of this government, that we are absolutely razor-focused and razor-sharp in ensuring that everything attracting you to Ireland and everything that makes Ireland what it is will continue and we are going to double down on it. Of course, there are two sides to every coin. Latest Irish investment figures show that 100,000 people are employed by 650 different businesses in 50 states right across the US, so this is a relationship that works both ways.”
Minister for Justice in Ireland, Helen McEntee, speaking at Ireland Day, NYSE
Participants at Ireland Day also included Dame Louise Richardson, President, Carnegie Corporation of New York; Lynn Martin, NYSE President; Michael Lohan, CEO, IDA Ireland; Consul General Helena Nolan, Consulate General of New York; Danny McCoy, CEO, Ibec; Leo Clancy, CEO, Enterprise Ireland; Mike Burke, Partner, Arnall Golden Gregory; Caitriona Fottrell, President & CEO, The Ireland Funds; Paul Connolly, Director, Bondi Partners; Ben English, Co-Founder & Executive Director, US-Ireland Partnership for Growth and Tracey Carney, Managing Director, Ireland INC.
Partners of Ireland INC include IDA Ireland, Ibec, Enterprise Ireland, Pfizer, Select USA, Arnall Golden Gregory LLP and Unicef. Patrons include Cpl, Bank of Ireland, Ornua, Alviere, BenXChange, Chartered Accountants Ireland, Ebow Digital, Dimply and Applegreen.
Speaking after the event, IDA Ireland CEO, Michael Lohan said, “Today there are over 950 US client company operations in Ireland employing over 210,000 people, underlining the strength of the business and economic ties between our two countries built up over the past century. IDA Ireland has been an integral part of that relationship over the past 75 years and the US continues to be our biggest and most important market for foreign direct investment. I found this morning’s discussion to be both engaging and informative and it was interesting to hear from other thought leaders and decision makers on how we can continue to strengthen the relationship between Ireland and the United States throughout the next decade and beyond. At IDA Ireland, we continue to support and partner with US multinational companies as they grow and transform their businesses in Ireland, one of the world’s best pro enterprise locations.”
Enterprise Ireland CEO, Leo Clancy, said, “Irish companies, like those from all over the world, see the United States as a huge opportunity. Irish companies understand that doing business means not just making sales but making a contribution. That contribution to communities across the US has made Ireland the 9th largest investor in the United States, employing people in rural areas as well as big cities. The companies I work with are proud of the places they now call home across the States.
He added, “This year we are announcing investments by companies across Fintech, Software, Engineering and Sports Tech during the week leading up to St. Patrick’s Day. We are putting particular focus on Irish climate and energy companies who are contributing to realising the US objectives for green transformation. Ireland understands partnership and we cherish our friends. We know business is done by real people who connect on shared objectives and build long term value together.”
Pictured at Ireland Day at the NYSE (from l-r): Danny McCoy, CEO Ibec; Mike Burke, Partner, AGG; Claire Cronin, US Ambassador to Ireland; Tracey Carney, Managing Director, Ireland INC; Leo Clancy, CEO, Enterprise Ireland and Michael Lohan, CEO, IDA Ireland.
Danny McCoy, CEO, Ibec, spoke afterwards. He said, “Ibec is once again delighted to participate in the St. Patrick’s week of engagements in the US, including Ireland Day at the NYSE, reinforcing and developing new connections between the Irish business community and the US. Ireland’s global mindset has played a pivotal role in its journey to economic prosperity. A prime example of this is the enduring trade relationship between Ireland and the US. Our strategic position has been key in attracting investment from the US for many decades, helping to transform the Irish economy into a modern hub of global commerce. Overall, the Irish economy continues to perform exceptionally strongly. Employment, investment, and consumer spending have all recorded increases over the past five years at about five times the EU average growth rate. Total employment in the economy in 2023 reached a record 2.7 million people, growing by 3.5% in the year and over 40% in the past decade. Ibec’s latest CEO sentiment survey indicates that business confidence is higher than in either of the past two years as concerns around energy costs and supply chain disruptions fade. As Ireland’s economy thrives, the US-Ireland business relationship will continue to be a critical part of both economies’ further success.
When we gathered in the US last year, we were marking the 25th anniversary of the Belfast/Good Friday Agreement. The Ibec campaign For Peace + Prosperity demonstrated the benefits and the growth of the all-island economy which resulted from the peace process. Now, with the reestablishment of the Executive and the Assembly in Northern Ireland, Ibec is intensifying our work to support the all-island economy and in the second half of 2024 will publish the first-ever comprehensive macroeconomic model for Northern Ireland and the all-island economy. Ibec sees particular opportunity in stronger North-South cooperation in areas such as the all-island labour market, energy, climate, and infrastructure.
Mike Burke, Partner, Arnall Golden Gregory LLP commented, “This is a great opportunity to recognize and celebrate Irish and Irish-American contributions to the NYSE, from the Buttonwood Agreement into the future.”
Pictured at Ireland Day, NYSE (from l-r): Joe Kennedy, US Special Envoy for Northern Ireland and Ian Hyland, President Ireland INC.
Ireland INC
Ireland is now the 9th largest Foreign Direct Investor in the US and Ireland INC works with a range of blue chip global Irish businesses assisting the expansion of their business footprint across the United States. Ireland INC works in partnership with a range of US private sector networks, along with Irish and US government agencies maximising the commercial potential of Irish business across America which have resulted in the creation of over 350,000 jobs in the US.
Ireland INC has hosted unique platforms for Irish business with a particular focus on New York and Washington D.C. and, in 2019, hosted its inaugural business delegation led by former Taoiseach Enda Kenny during which Ireland INC announced its permanent presence in Washington D.C. providing full-time representation to Irish businesses under the Ireland INC brand. In 2023, US Ambassador to Ireland, Claire Cronin, hosted Ireland INC business leaders to progress expansion of Irish Business across the United States.
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