Irish Innovation and Investment in America Drives Record Employment and Economic Growth in 2018

Enterprise Ireland, the Irish government organization responsible for
development of Irish enterprise worldwide, continues to build on their
U.S. Investments

NEW YORK–(BUSINESS WIRE)–The well-told story of Ireland’s contribution to North America business
has acquired a new chapter that reflects the global economy and
Ireland’s role as an international force of innovation, entrepreneurship
and investment. Enterprise Ireland, the Irish government agency for
international development of Irish businesses, reports record employment
and job growth among Irish businesses operating in America.

In the past year, Enterprise Ireland-supported companies opened 59 new
offices in the US, an 18% increase over 2016. Locations included New
York, Massachusetts, New Hampshire, Texas, Missouri, Colorado,
Washington. Additionally, 2017 saw a total of 181 Irish start-up
organizations receive support from Enterprise Ireland.

As of January 2018, almost 800 Irish-owned companies operate across all
50 states employing over 100,000 people. The companies cross a broad
range of industries including construction, education, energy,
environmental, medical devices and software. According to the United
States Bureau of Economic Analysis, in 2017 the value of Ireland’s
foreign direct investment (FDI) was calculated at over 85 billion USD,
ranking Ireland the 9th largest source of FDI.

“The strong employment figures of Irish businesses operating in the
United States show depth of engagement and confidence in this market,"
said Julie Sinnamon, CEO, Enterprise Ireland. “Irish businesses are
partnering with U.S. business and putting feet on the ground to support
those partnerships. I am especially encouraged by the diverse range of
businesses and the high rate of innovation common to those partnerships.”

Today, Enterprise Ireland operates from New York; Boston; Austin, TX,
Chicago, Il and Mountain View, CA. The organization is the third largest
venture capitalist in Europe by deal count. In addition to funding
support, Enterprise Ireland also provide services including export
assistance, assistance with research and development as well as a broad
network of key global industry-specific contacts.

“Ireland and the United States enjoy a very successful trade
relationship that stretches back for many decades and brings significant
benefits to both countries. Hundreds of Irish owned companies support
more than 100,000 jobs across the United States in firms ranging from
start-ups to major corporations. During my St. Patrick's Week trip to
the U.S., I intend to meet with a number of these companies as well as
discussing the importance of the Irish-American relationship with senior
US decision makers.” added Leo Varadkar, Ireland’s Taoiseach (Prime
Minister).

The organization has strong expertise in the medical technology,
pharmaceutical, construction and software markets among others.
Globally, Ireland is the second largest exporter of software products
and accounts for over 60 billion dollars in annual exports.

For Irish firms currently looking to export into the U.S. market,
Enterprise Ireland has launched a new Market Discovery Fund for client
companies. The fund is designed to provide financial support for a
physical presence in-market including offices, participation in trade
events and market research.

About Enterprise Ireland

Enterprise Ireland is the Irish State agency that works with Irish
enterprises to help them start, grow, innovate and win export sales in
global markets. Enterprise Ireland partners with entrepreneurs, Irish
businesses, and the research and investment communities to develop
Ireland’s international trade, innovation, leadership and
competitiveness. In this way, we support sustainable economic growth and
regional development, and help create and sustain employment in Ireland.

Contacts

Brand Definition
Daniel O’Connell, 212-660-2555 Ext. 12
[email protected]