United States Department of State

Ireland United States Department of State

The Irish government actively promotes foreign direct investment (FDI), a strategy that has fueled economic growth since the mid-1990s. The principal goal of Ireland's investment promotion has been employment creation, especially in technology-intensive and high-skill industries. More recently, the government has focused on Ireland's international competitiveness by encouraging foreign-owned companies to enhance research and development (R& D) activities and to deliver higher-value goods and services. The Irish government's actions have achieved considerable success in attracting U. S. investment, in particular. As of year-end 2013, the stock of U. S. foreign direct investment in Ireland stood at USD 240 billion, more than the U. S. total for China, India, Russia, Brazil, and South Africa (the BRICS countries) combined. There are approximately 700 U. S. subsidiaries currently in Ireland employing roughly 115,000 people and supporting work for another 250,000, out of a total of 1.94 million people employed in a labor force of 2.15 million. U. S. firms operate primarily in the following sectors: chemicals, bio-pharmaceuticals and medical devices, computer hardware and software, electronics, and financial services.