The number of US companies operating in Ireland now stands at over 800, while the number of people these companies employ has reached 180,000, up from 100,000 a decade ago, research from the American Chamber of Commerce Ireland shows.
An estimated 144,000 indirect jobs have also been created in the wider economy.
Meanhwhile, Ireland is now the ninth largest investor into the US as 650 Irish companies have a US base and provide employment for 110,000 people across all 50 states.
The American Chamber of Commerce Ireland said this demonstrates the true two way nature of the deepening US Ireland business relationship.
This year marks the 60th anniversary of the American Chamber of Commerce Ireland.
"Despite the difficulties of the pandemic in 2020, IDA Ireland won 246 new investments and 20,123 new jobs in 2020 and 52% of these projects went to the regions - a huge achievement under the circumstances," President of the American Chamber Gareth Lambe said.
Mr Lambe said that 94% of American Chamber members surveyed recently said their corporate headquarters had a positive view of Ireland as a place for future investment - all of this points to a positive future for US FDI in Ireland..
US companies spend almost €10 billion on payroll in Ireland each year, over €6.3 billion on goods and services and invest €5.3 billion on capital expenditure.
"This has an enormous spill over into the local economy. It is estimated that for every 10 jobs created by a multinational company in Ireland, a further eight jobs are created indirectly," Mr Lambe said.
In his latest economic report for the American Chamber of Commerce Ireland, Wall Street economist Joseph P Quinlan said that Ireland continues to punch above its weight when it comes to attracting the capital of some of the world's largest and most innovative companies.
The economist said that US multinationals prefer to invest in markets and economies that are healthy and growing, and on this basis, Ireland easily stands out from the rest of Europe and many emerging markets for that matter.
"Ireland has been a growth leader in Europe over the past decade and crisis-torn 2020 was no different. While most of Europe posted declining rates of output last year, Ireland's economy actually expanded by a modest 1-2%," Mr Quinlan said.
"Ireland, along with China, was one of the few nations in the world last year to post positive growth, with the economy bolstered by a rebound in activity in the life sciences and technology sectors. In 2021, both Ireland and the broader and larger member states of the EU are expected to positive economic growth rates," he added.
Mr Quinlan also said that Ireland's human talent remains a key attraction, notably among high productivity sectors and innovative industries like pharmaceuticals and information technology.
"Given Corporate America's never-ending search for talent, Ireland's young, well-educated and English-speaking talent pool remains a key competitive edge for US firms based in the country," he added.
