US increasing Irish investment despite EU stagnation

We account for almost 20% of new US investment in Europe...

 US increasing Irish investment despite EU stagnation

Picture by: Niall Carson / PA Archive/Press Association Images

US investment in Ireland stood at a total of $310 billion as of 2014, with the $58.1 billion pumped into the country in that particular year making up over 20% of total US investment into Europe.

The findings come from a brand new report commissioned by the American Chamber of Commerce in Ireland and launched yesterday at the American Chamber's annual president's lunch.

Foreign direct investment into Ireland from the superpower has increased significantly over the past decade, despite US multinationals cooling their interest in the EU overall.

The report was penned by Wall Street economist Joseph Quinlan, who cites our expanding economy, wealth of human capital and pro-business political outlook as three reasons for continued and ever-increasing US interest.

Investments by Apple, LinkedIn and Oracle were highlighted as examples of the strong ties between Ireland and US multinationals.

We are doing particularly well at the cutting-edge, with communications, science and social media accounting for a large slice on recent investment.

We now account for almost 20% of US investment in the EU, in stark contrast to the likes of France (3%) and Germany (a mere 2%).

Ireland has also enjoyed bigger investment than the whole of Latin America ($139 billion), Central America ($118 billion), China ($66 billion), Africa ($64 billion) and the Middle East ($52 billion).

According to American Chamber President Bob Savage, 75% of the 19,000 jobs IDA Ireland announced last year came from across the Atlantic.