- Irish exports to North America reached a record €5.5bn in 2022, along with a 14% increase in FDI into Ireland
- 28 Enterprise Ireland client companies to participate on the trade mission to accelerate business growth in the strategically important US Mid-West Region
- Series of meetings planned with IDA client companies in the Life Science sector employing 1000s of people across regional locations in Ireland
Minister for Enterprise, Trade and Employment, Simon Coveney T.D. is today leading a joint Enterprise Ireland and IDA Ireland Trade Mission to Illinois, Indianapolis and Michigan, to boost trade relationships with key IDA client companies and promote world class Irish companies in the Mid-West region.
Leading the Trade Mission to the Mid-West, Minister for Enterprise, Trade and Employment, Simon Coveney T.D., said: “The USA is an important trading partner for Ireland and the Mid-West region is strategically important particularly for medtech, pharmaceuticals, healthcare, FDI and education. In 2022, Enterprise Ireland and the IDA delivered strong growth in North America, with Enterprise Ireland client exports reaching a record €5.5bn, up 13% on the previous year, and the IDA securing 167 investments from North America. The trade mission will look to consolidate and grow these figures for the Irish economy.”
Now the third largest export market for Enterprise Ireland clients, the trade mission will build on record Enterprise Ireland client exports of €5.5billion in 2022 to North America and supports continued client growth in the region. 28 Enterprise Ireland clients, building significant business in the United States will participate on the trade mission, including Aerogen, Combilift, Nuritas, Genesis Automation and MagrowTec. Across three days, the trade mission will support clients to engage with established and prospective US partners, including major health groups in the Mid-West region, a key healthcare innovation hub in the US.
International food investment and education will also be a prominent focus of the trade mission programme, with Enterprise Ireland hosting a ‘Future of Food’ roundtable with leading Irish and North American food and beverage companies. Strengthening international education partnerships, Chicago’s De Paul University will be the host venue for Educate in Ireland’s international education forum, with representatives from UCD, UCC, Columbia College Chicago, University of Illinois Chicago.
US companies choose Ireland as an entry point to Europe, the world’s largest single market area. From Ireland, they gain access to a highly skilled, English speaking, flexible work force which shares many cultural and historic ties with the US. In 2022 IDA clients from the US had almost 950 operations in Ireland, employing over 210,000 people directly in Ireland with US corporations accounting for over 70% of total inward investment employment in Ireland. In 2022, IDA Ireland secured a total of 167 investments from North American companies, accounting for over 18,500 new jobs, and including 64 first time investments from new name companies.
The established partnership across a diverse base of US corporates has driven ongoing growth and expansion with investments in research & innovation, sustainability, and future skills development in Ireland. US companies will have a continued need to have an international presence, and IDA will continue to position Ireland as the number one location from which US companies can internationalise their businesses.
Leo Clancy, Enterprise Ireland CEO said: “Supported by Enterprise Ireland, on average 60 Enterprise Ireland client companies establish new presences in the USA each year, which reflects the strong market opportunities and the high demand for Irish innovation in this region. While supporting our client companies across multiple sectors to accelerate their growth in the US, we also strongly focus on international food investment and education, with international food investment, generating an annual spend in the Irish economy of €2.5bn. Ireland also hosts the largest number of US study abroad students per capita of any country in the world.”
IDA Ireland CEO, Michael Lohan said: “The Midwest US is home to many leading companies across all sectors and is particularly strong in Life Sciences. This trade mission includes meetings with decision makers from some of the largest, most innovative multinational employers in the life science sector in Ireland. This visit gives IDA an opportunity to reiterate Ireland’s global position as a stable location for investment and expansion despite economic headwinds and an ever-changing global environment for investment flows. This week is about deepening our relationships at the highest levels and making the case for Ireland to win new business from these leading companies.”