On 1st February, the US Ambassador to Ireland, Claire Cronin hosted Ireland INC and CEOs representing some of Irish businesses’ largest investors across the United States to discuss, explore and promote the further growth of Irish business across the US. The c suite gathering of business leaders forms part of an ongoing programme by Ireland INC and Select USA with the objective of increasing the Irish corporate footprint across all Fifty states.
Ireland INC is incorporated in the United States with a presence in Washington DC and works with and supports partners including Ibec, Enterprise Ireland and US Department of Commerce Initiatives.
Irish footprint in the US
Ireland’s expanding business footprint across the United States has continued to grow in influence. In 2022, 650 Enterprise Ireland client companies alone employed over 100,000 through 2500 locations across the US.
Irish origin companies remain the 9th largest source of US FDI with a value of $240BN. In 2021 Enterprise Ireland client company exports to the US were €4.87bn euro. Exports to the region (Americas) were up 14% year on year with the US tracking to similar growth levels. This is expected to show further growth across 2022 and 2023.
Ian Hyland, President Ireland INC said, “Ireland INC is delighted to support Ambassador Cronin in convening CEOs representing some of the largest Irish corporations invested in and expanding across the United States. Ireland is the 9th largest global corporate investor in the US, employing hundreds of thousands of Americans across the United States.”
“Tonight’s discussion, hosted by Ambassador Cronin, reinforces both Irish businesses’ commitment to expanding their investment footprint, along with Select USA’s support of the continued growth of US inward investment from Irish businesses and entrepreneurs covering a multitude of sectors,” he continued.
“Ireland INC works closely with Irish business, business networks, along with Irish and US Government agencies to promote, engage, and assist in delivering continued growth of Irish businesses across all Fifty States, and in so doing, amplify the significant contribution that Irish business continues to make to the US economy.”
Business leaders present at the event included Danny McCoy CEO Ibec, Leo Clancy CEO Enterprise Ireland, Ian Hyland President Ireland INC, Lorna Conn, Cpl; John Jordan CEO Ornua; Paul Marchant CEO Primark; Susan Spence, SoftCo; Paul Connolly, Connolly Capital; David Cass, Sia Partners; John Goulding, Workvivo; John Sheehan, Ardagh Group PLC; Jim Joyce, Co-Founder, HealthBeacon; Imelda Hurley, President, Ibec; Mike Burke, Arnall Golden Gregory (Washington DC).
Finola Cunningham, Head of Foreign Commercial Service and Conor Kenny, Regional Investment Advisor — Northern Europe Select USA.
Ireland Day at the NYSE 13th March
Ireland INC will host the annual Ireland Day at the New York Stock Exchange with a CEO Leadership Breakfast on Monday, March 13th. In 2022, Ireland INC announced it’s 30/50/30 initiative, with the objective of assisting Irish business expand by 30% across all fifty US States by 2030. Ireland INC partners with a range of business networks and corporate partners including Ibec, Enterprise Ireland, Sia Partners and Arnall Golden Gregory, Select USA and Business & Finance
Select USA will host the 2023 Select USA Summit in Washington D.C. from 1–4 May. SelectUSA is a US government program led by the US Department of Commerce. The organisation focuses on facilitating business investment into the States with a focus on job creation.
It aims to raise awareness of the critical role that economic development plays in the US economy. SelectUSA has facilitated more than $146 billion in investment and has created over 166,000 US jobs since its establishment.
In a promotional video for the Select USA investment summit, Gina Raimondo, US Secretary of Commerce, said:
“This investment summit is the top event in the US for Foreign Direct Investment (FDI) promotion. The summit brings investors, companies, Economic Development Organisations and industry experts together to set the stage for investment deals.”