Paschal Donohoe: Irish companies operating in the United States – defined by resilience
This piece originally featured in the Ireland INC US 250 Index 2025, available to read here.
By Paschal Donohoe, Minister for Finance and President of the Eurogroup
The history of Irish companies operating in the United States is one defined by resilience, a pioneering spirit, and the development of successful partnerships. It is a mutually beneficial relationship built on a shared spirit of innovation which connects our communities and businesses across the Atlantic.
This unique relationship has driven Irish investment into the US, with Ireland now the 5th largest source of foreign direct investment into the US, with investment by Irish companies worth $390 billion. Irish investment in the US increased by 20% in 2024. This places Ireland as the 2nd largest EU source of FDI in the US, second only to Germany.
Irish investment has been made across all 50 States of the US and more than 200,000 people are directly employed by almost 800 Irish companies, ranging from software and IT services to business services and industrial equipment. There are thousands more working in jobs supported indirectly by the supply chains, services, and innovations that these firms generate. In addition, many Irish companies are also major customers of US manufacturers, contributing further to economic prosperity.
Irish companies bring tech, med-tech, biotech, software and engineering expertise which have had a knock-on positive effect on innovation ecosystems in the US. Some of these companies are scaling up from small operations to full manufacturing or large-scale service centres.
In 2025, we have witnessed pressures on the world economy as we adapt to an unprecedented new reality and geopolitical volatility. It is clear that the global trading environment is shifting. While there is uncertainty, whether around supply chains, market access, regulatory alignment, or simply as a result of rapid technological change, there is also an opportunity to adapt, to innovate and to keep building resilient partnerships.
In moments like this, I think that governments and business leaders must adapt to uncertainty while nurturing the symbiotic relationship that underpins Ireland’s long term economic relationship with the US. The establishment earlier this year of the Government Trade Forum allows a space for us to work together and support each other, as we navigate these volatile waters. I want to underline the continued support and priority that the Irish Government places on supporting Irish companies operating globally, and that I personally stand ready to play my part in that endeavour.
