American Chamber celebrates 60 years promoting US-Irish ties
St Patricks Day in Ireland- just one of the symbols of Ireland's enduring business and cultural relationship with the United States.
Leo Varadkar, Martin Shanahan, Paul Duffy and Julie Sinnamon reflect on the achievements of the American Chamber of Commerce Ireland, which in 2021 marks its 60th year supporting US-Irish business and cultural relations.
Click here: US Business in Ireland 2021
I’d like to congratulate the American Chamber of Commerce on marking its 60th anniversary. Ireland has always shared a unique relationship with the US.
Post-Brexit and with a new administration in Washington DC, the next few years will present a real opportunity to reforge the Atlantic alliance between the US and Europe. An alliance that is a force for good, for stability, and prosperity in the world. Ireland can be a bridge between Europe and America.
Ireland has experienced two severe recessions in 12 years. Both were very different in their causation and in terms of our policy response. There is one huge similarity between them however, our export-led trading sector has proven to be extremely resilient.
Employment levels and tax receipts held up and even grew in the worst of both. This has made the pandemic unemployment payment, the employment wage subsidy scheme, the VAT cut, grants to businesses, and other vital lifelines to businesses affordable. Anyone who doubts our economic model: pro-enterprise, low corporate taxes, investment in a highly skilled workforce, at the heart of Europe, open and enthusiastic about free trade — needs to reflect.
It is this model which will help us bounce back and rebuild after this pandemic.
I would like to congratulate the American Chamber of Commerce Ireland on its 60th anniversary of promoting US-Irish business and cultural relations.
The Chamber has long been established as an inexorable supporter of US businesses in Ireland. Over its 60 year history in Ireland it has played an important role in advocating for US companies located here and it works to showcase the strength and depth of the symbiotic US-Ireland trade and economic relationship which has significantly benefited both the United States and Ireland.
Foreign Direct Investment has transformed Ireland over the last 70 years. FDI continues to advance the economy and has shown great resilience despite the Covid-19 pandemic. From an IDA Ireland perspective US companies have close to 900 operations in Ireland, employing over 180,000 people and account for 70% of IDA client employment. Despite a myriad of global challenges, Ireland’s investment proposition continues to resonate strongly with companies across the globe as investors search for stability and certainty.
IDA Ireland has enjoyed a strong partnership with American Chamber over many years and I very much look forward to working with newly appointed 2021 President of American Chamber of Commerce Gareth Lambe and Mark Redmond and the team.
As the American Chamber of Commerce celebrates its 60th anniversary in Ireland, it gives me pause for reflection on how Ireland has transformed over that period and how companies like Pfizer have helped pave that road. I am also filled with a great sense of pride being a past president of AmCham at just how far we have all come together.
In 1969, Pfizer was one of the first American companies to establish operations in Ireland, where at that time the country was experiencing lower levels of employment and emigration was an option chosen by many. Fast forward 50 years and Pfizer now employ over 4,000 people here and has a considerable footprint that contributes significantly to the Irish economy.
Ireland is considered a global success story for attracting multinational companies like Pfizer, thanks to many forward-thinking government policies that focused on education and innovation and resulted in attracting significant levels of inward investment.
The success of Pfizer in Ireland is reflective of the strong support shown through the decades by AmCham and others in ensuring the policies and practices that are pro-business and pro-innovation have continued over time.
This has helped to foster and sustain this strong multinational presence here, and it goes without saying that we need this to endure in order to ensure our country and people continue to thrive.
Pfizer continues to focus on innovation, research and development as a fundamental part of what we do and recently announced a €300m investment along with 300 new jobs and an early development activity in our Ringaskiddy site in Cork. This will further strengthen our scientific research and development capability in Ireland.
Congratulations to the AmCham team, both past and present, for all their incredible work over the last 60 years!
I look forward to seeing what the future holds.
In 1961 the Chamber began its mission of fostering business relationships between Ireland and America.
It was a critical time for the country as then Taoiseach, Seán Lemass, embarked on an economic transformation that would lay the foundations of today’s dynamic, outward-looking, innovative economy.
In the following 60 years, the American Chamber in Ireland has been a loyal friend of Ireland and has played a critical role in making America an important market for Irish businesses.
In 2019 for example, Enterprise Ireland supported companies that exported €4.31bn worth of goods and services to the American market, representing 17% of all exports by companies we are proud to support.
What is just as remarkable is that more than 650 Irish companies have operations in the US, employing over 110,000 people across all 50 states. In terms of foreign direct investment Ireland is the ninth-largest source of investment into US, and over the past two years, Enterprise Ireland has supported the establishment of over 140 offices or operations by Irish companies in America, with many companies deepening their footprint and expanding from an existing US presence.
The American Chamber in Ireland recently published an excellent report on our mutual trading relationship entitled “Make The Bridge Stronger – Ireland at the Heart of the Transatlantic Business Relationship”. Enterprise Ireland looks forward to working in partnership with the American Chamber in Ireland over the coming years, as we both strive to strengthen the bridge between our two countries, to the mutual benefit of both.
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