Companies from the United States hare playing a key role in Ireland economic recovery.
Speaking at the American Chamber’s 50th Anniversary in Ireland, Henry McGarvey, Chairman of the American Chamber of Commerce North West Region and Managing Director of Pramerica Systems Ireland said "Today we have over 600 US companies employing 100,000 people in Ireland. A study published last week by Keith Walsh, an economist with the Revenue Commissioners points to the importance of this investment for Ireland’s economic recovery.
"His study found that in the past 10 years, US multinational companies contributed roughly one third of the corporation tax take. US companies also pay a significant proportion of revenues collected from VAT and Excise Duties while income tax revenue is generated from the 100,000 people employed by US companies here. These revenues generated for the Irish state by US Multinational companies is vitally important as the country seeks to rectify its current fiscal difficulties.”
During the first two months of 2011 800 new jobs have been announced in Mayo, Dublin, Galway, Kildare, Cork and Westmeath. McGarvey said "These jobs are very welcome news and build on the very successful year for foreign direct investment into Ireland in 2010 when IDA Ireland secured 126 new investments and 11,000 new jobs were created by IDA Ireland companies."
3 Comments
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Switch to the desktop site to post a comment.sirpeter | Mar 25, 2011, 09:57 PM EDT
Well done Irish/Americans. Ye are a credit to Ireland and your ancestors would be proud.If I had my way ye would all have duel citizenship. But those West Brits in Dublin force our Irish gombeen men in government to cuddle up and lean East.
peterson | Mar 24, 2011, 01:09 PM EDT
God Bless America !!
padams68 | Mar 24, 2011, 10:03 AM EDT
I think it is a great thing, one hand helping the other hand.. I just wish that I could be as lucky to land a job that would take me to Ireland! I would love nothing more than to be a productive member of society there. To live and learn life there would be the greatest thing in the world for myself and my family.. :)