US-Irish Investment Trends 2002
Currently up to 600 US companies employ more than 90,000 people in Ireland. Annual exports by US companies exceed E26bn (£18bn) and the US is by far the largest foreign investor in Ireland, representing almost 65% of foreign direct investment. Ireland now attracts 27% of all new US ‘greenfield’ investment in Europe.
The US-Ireland economic relationship is not just one-sided. Irish investment in the US reached $18bn (£12.37bn) in 2002. With the globalisation of most industries, outward investment has become ever more important for Irish companies. Since such companies are faced with a relatively small local market, they must look abroad and in many cases to the US for opportunities to grow profitably by acquisition.
