Posted on about 3 years ago by Laurentina Kennedy
Ireland is the ninth largest source of foreign direct investment in the United States
11th March 2020
Enterprise Ireland leading business roundtable to boost exports
Kerry Group announce $125m investment in Georgia food plant
Ireland has been confirmed as the ninth-largest source of foreign direct investment to the United States. According to the US Bureau of Economic Analysis, Ireland’s FDI into the US stands at $235.7 billion*. Today, over 900 Irish companies operate across all 50 states, employing 110,000 in the US.
The figures have been released ahead of a roundtable discussion on opportunities to advance partnerships between Irish and US businesses. Facilitated by Enterprise Ireland, the meeting will take place later today in Washington DC. Senior executives from Kerry Group, Aerogen, Icon, NovaLeah and Kingspan will participate in the discussion, as well as Irish Ambassador to the United States, Daniel Mulhall, and United States Ambassador to Ireland, Edward F. Crawford.
Enterprise Ireland-supported companies opened 75 new offices in the US in 2019, resulting in a two-year total of 125 new offices. More than 87,000 people are employed by 613 Enterprise Ireland supported companies operating across all 50 states at 954 locations. The companies cover a broad range of industries including construction, education, energy, environmental, medical devices and digital technology.
Enterprise Ireland CEO, Julie Sinnamon, said: “Enhanced by a strong cultural connection, Ireland has had many decades of an active trade relationship with the United States. This connection, together with Ireland’s entrepreneurial strengths, presents a vibrant market and partnering opportunity for many Irish companies. While many Enterprise Ireland clients are currently active in the US, it is also a key target market for companies who are looking to expand their global footprint. Events such as today‘s roundtable are invaluable in strengthening existing relations, while also giving ambitious Irish companies unparalleled market access.”
As part of the event, Kerry Group has announced the investment of $125m into a new world-class food manufacturing facility in Rome, Georgia. The facility will provide Kerry Group with integrated taste and nutrition solutions to help their customers meet growing consumer demand in the poultry, seafood and alternative protein markets. Gerry Behan, Global President and CEO, at Kerry Taste & Nutrition and Catherine Keogh, Group Vice President - Corporate Affairs and Communications, at Kerry Group will detail the investment at the roundtable.
Commenting on the announcement, Gerry Behan, said: “North America is our largest market, and as such, it is fitting that it is here that we announce our largest ever capital expenditure investment. We already employ nearly 6,000 people in 70 locations across the region and we are looking forward to growing our footprint in the coming years. This new facility will be one of the most advanced and modern food manufacturing facilities in the world which will support our customers as they produce tasty and nutritious food products which will be consumed all across the US and Canada.”
Commenting on the announcement, Julie Sinnamon, continued: “Kerry Group has been a significant contributor to the Irish-US trading relationship. Employing 6,000 people across the country, today’s announcement further exemplifies the innovation, leadership and vision that has driven their success to date.”
In the US, Enterprise Ireland operates from New York, Boston, Austin, Chicago, Seattle, and San Francisco.