Mon, 17 Jun 2019

NEW YORK, New York - At least seventy new projects have been approved for investment in Ireland as a direct result of Brexit.

The latest figures from Irelands Foreign Investment Agency, IDA Ireland have shown that 70 individual investments related to Brexit, with over 5,000 associated jobs, have been attracted to Ireland since the UKs EU referendum in June 2016.

In January 2018, IDA Ireland announced record results with nearly 230,000 people now employed in FDI companies.

TheCEO of IDA Ireland, Martin Shanahanprovided the new figures this week, speaking on Thursday at the Harvard Club in New York at a conference hosted by Irish Central called Understanding Brexit.

IDA Executives across the world have been hosting events throughout the week to mark St Patricks Day and remind investors of Irelands strong proposition.

These updated figures are another reminder of how our European Union membership and stable pro-enterprise policies are appealing to investors who are looking for certainty, Shanahan said.

For U.S. companies with ambitions to be global players, Ireland is a natural fit for their international operations.IDA Ireland has engaged with clients throughout the Brexit process. Uncertainty remains on the final business impact of Britain's EU withdrawal as negotiations continue. Increased transaction costs, fears about regulatory divergence and tariffs are amongst the concerns expressed by investors.

Dublin remains the most popular choice for financial services firms to relocate post-Brexit, according to EYs Brexit Tracker.

To date in Ireland companies that have announced investments connected to Brexit include: Barclays, Morgan Stanley, TD Securities, Wasdell, Delphi/Aptiv, Simmons & Simmons, S&P Global, Thomson Reuters, Equilend and Coinbase.

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