U.S. Companies Targeted In Drive For New Investment And Jobs

"Foreign direct investment from the United States will continue to play a key role in creating new jobs in Ireland over the coming years", said Tánaiste and Minister for Enterprise, Trade and Employment, Mary Coughlan, T.D., as she commenced an intensive week-long IDA promotional visit to the United States.

The visit, which will include stops in Boston, San Antonio, Cincinnati, Minneapolis and Chicago, will see the Tánaiste meet with target companies in the healthcare, medical devices, pharmaceutical, ICT and financial services sectors.

The Tánaiste said: "The US is our most important source of foreign direct investment and today some 480 US companies employ in excess of 95,000 people throughout the country.

"Despite the current challenging economic environment, Ireland remains an attractive location in which to do business. The policies we have put in place continue to attract investment and create new jobs."

With the youngest population in Europe - over 40% percent under the age of 25 - and an educational system ranked fifth in the world in the way it meets the needs of a competitive economy, Ireland's unique workforce is a key pull factor for US companies.

In addition, Ireland's low corporate tax rate and flexible work practices remain as a bedrock to attracting foreign direct investment.

"The message I am taking to the US this week is clear. Ireland, despite the global economic downturn, is open for business.

"We have a young, highly skilled and highly educated workforce and we have the right set of flexible policy measures in place to help US corporations achieve their global ambition.

"The meetings I have scheduled over the next number of days will focus on attracting new investors and on encouraging expansion by US companies already located in Ireland.

"The foreign direct investment pipeline into Ireland remains strong and I am confident that our work this week will result in further investment and jobs in the months and years ahead", she concluded.