Ireland is 'strategic beachhead' to EU for US companies

Friday 18 March 2016 18.51
The research says Ireland's economic rebound has made the country 'one of the most attractive in the world for US firms'
The research says Ireland's economic rebound has made the country 'one of the most attractive in the world for US firms'

Ireland stands out as "Corporate America's strategic beachhead to the rest of the European Union", according to new research for the American Chamber of Commerce to the EU.

The report, entitled The Transatlantic Economy 2016, identifies Ireland as "a top global export platform for Corporate America", while we were the top export market for US trade in intellectual property in 2014.

It said between 2000 and 2013, US company exports from Ireland jumped almost five-fold to $244bn, while US company exports from Ireland are four times larger than equivalent exports from China and 3.5 times larger than from Mexico.

The chamber's research also indicates Ireland and Switzerland remained "favoured locations" for US multinationals in 2015, despite the fact flows to Ireland pulled back after surging in 2014.

In the first nine months of last year - apart from the Netherlands - Ireland attracted more US foreign direct investment than any other European country.

The report cites Ireland's "flexible and skilled English-speaking labour force", as well as EU membership, low corporate tax rates, and pro-business policies for the high level of investment. 

The annual research also highlights Ireland's economic rebound and the fact it is "among the fastest growing economies in the world", indicating this has made the country "one of the most attractive in the world for US firms".

Meanwhile, it also found American assets in Ireland ($1.1 trillion in 2013) are much larger than those in either France ($393bn) or Switzerland ($696bn), and much higher than those in China ($290bn).

This survey aims to provide the most up-to-date picture of the economic relationship binding European countries to the US.