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Record American investment in Ireland is reported

Country now benefitting from major US investment

PATRICK COUNIHAN,

IrishCentral Staff Writer

Published Wednesday, June 27, 2012, 7:45 AM

Updated Wednesday, June 27, 2012, 7:45 AM

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US investment in Ireland last year surged to new highs according to official figures

Photo by picture-alliance / dpa

American business has answered Ireland’s economic calls to arms with record investment levels.

US investment in Ireland last year surged to new highs according to official figures just released.

The US Department of Commerce report, published on Tuesday, shows a massive rise in American investment as Ireland copes with the collapse of the Celtic Tiger.

The Irish Times reports that the value of all direct investment by US firms in Ireland stood at $188 billion at the end of last year.

The paper says that figures suggest the impact of Ireland’s EU-IMF bailout on American foreign direct investment has been negligible.

Ireland accounted for more than 8 per cent of the total stock of US FDI in Europe in 2011.

Half of US FDI is accounted for by holding companies with IT and chemicals the industries in which US firms invest most in Ireland.

Nster.com

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11 Comments

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timbobdennehy | Jun 29, 2012, 07:36 AM EDT

why did dell pull out in the first place.record american investment my eye.

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bob40wil | Jun 28, 2012, 12:19 PM EDT

Bythebay, as usual you blame some one else for your Countries inability to change when change is needed, the Irish Toger isnd example, your economy was booming and still the old way of doing things kept going on, no changes in benifits just keep giving money away, your own banks taking advantage and doing like everyone 3else, making loans to people that couldn,t afford them, plenty of blame to go around.

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Bythebay | Jun 28, 2012, 10:54 AM EDT

Searlit, Ireland is up and running. US companies in Ireland don't help Ireland at all. They've hindered us. US companies should be in the US where they belong, not avoiding US taxes. The US needs all the jobs it can get to help it's unemployment and $15 trillion national debt.

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aloistmartin | Jun 27, 2012, 09:05 PM EDT

Martin McGuinness shakes hands with The British Queen, The British Queen shakes hands with David Cameron, Davis Cameron shakes hands with Angela Merkel, Angela Merkel shakes hands with King Juan Carlos I, King Juan Carlos shakes hands with the Pope, The Pope shakes hands with God ? Nice Nice Nice !

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Searlit | Jun 27, 2012, 07:21 PM EDT

Bythebay, if it gets Ireland up & running again, that will be good for all of Europe. Ireland can always change the tax codes, later. The USA, contrary to popular opinion, isn't really broke. We can still back up our currency, though we have trillions in debt, due to the war economy launched by Bush/Cheney.

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Bythebay | Jun 27, 2012, 03:54 PM EDT

bob40wil, it is US companies who ruined Ireland's economy when US banks failed and Ireland suffered because of the overwhelming US interests, of course escaping US taxes. Obama wants US jobs back in the US.

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bob40wil | Jun 27, 2012, 02:43 PM EDT

Judgeing from the posts here so far maybe the States should just let you sink or swim all on your own.

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Portia777 | Jun 27, 2012, 01:47 PM EDT

Everyone knows USA is broke and it is time to get their money out. Only problem is USA likes to have total control over any country it puts money into.

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Bythebay | Jun 27, 2012, 12:59 PM EDT

This is just a US attempt to offshore money and not pay US taxes. US companies should return to the US as Obama wants. They should not be taking advantage of Ireland's tax breaks and refusing to support the US economy.

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Searlit | Jun 27, 2012, 11:31 AM EDT

I'm fine with the IT. Chemicals, not so much.

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Murph46 | Jun 27, 2012, 11:12 AM EDT

Gee,LoyalCitizen probably wants to send it back!

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