FOLLOWING the year-end jobs boost that Limerick and the region secured with the announcement of more than 800 jobs during a four week period in October, Minister for Finance Michael Noonan is leading a trade mission to the US in a bid to enhance existing business ties.
In the wake of the election of Donald Trump as US president and his campaign promises to return global US brands back home, Minister Noonan is leading a week-long trade mission including a trip to Silicone Valley in California where a large number of recent Foreign Direct Investors (FDI) have come from.
The trip, which will also include a Washington stop, was planned following the Brexit vote, was devised as a counter for the challenges posed by Britian leaving the EU.
During the west coast leg of the trip, Minister Noonan will meet with a number of US multinationals who have bases in in Ireland as well as highlight the attractiveness of Ireland as a destination for foreign direct investment, to other firms along with IDA chief Martin Shanahan.
Finance meetings are also to be held with representatives of the US Treasury, the IMF and the World Bank.
Mr Noonan said: “Ireland has strong ties with the US and this is most evident in terms of inward investment from American companies. I meet regularly with current and prospective investors from the US and this visit will allow me to emphasise Ireland’s attractiveness as a destination for foreign direct investment following the UK’s decision to exit the EU.
“Companies invest in Ireland for a broad range of reasons, not least to access the world’s largest economic block, the European Union. As a common-law, English-speaking and business-friendly jurisdiction, we will continue to be an attractive destination for US companies.”
Upwards of 700 US originated companies have invested some $343 billion in Ireland which supports 140,000 jobs.
by Andrew Carey
