Minister Micheál Martin commences four day visit to East Coast USA
Minister for Enterprise, Trade and Employment Micheál Martin today (Monday 25th April 2005) commenced a four day visit to the East Coast of the US where he will engage in a series of meetings/events with key Enterprise Ireland (EI) clients, their buyers and contacts. The visit is intended to showcase the successes of Enterprise Ireland clients in NY/ New Jersey, Boston and Washington DC and to profile clients from all key sectors including Software/Services, Industrial/Healthcare and Consumer Products.
Minister Martin said "There are enormous opportunities for increased trade growth between Ireland and the US. The major growth areas offering potential in this regard include including Software/Services, Industrial/Healthcare and Consumer Products. My main aim during this visit is to is to promote the product and service capability of Irish companies and encourage collaborative business ventures between Ireland and the US".
Minister Martin said "The United States is a key export market for clients of Enterprise Ireland. It is a powerful global economy with strong links to Ireland. It leads in many industries and as a key innovator, consumer and industry leader, the US market needs to be a priority for Irish companies seeking strong global competitive positions."
Notes for Editors
- The US is a key Export Market for Irish Industry.
- The United States imported $27 billion worth of Goods and Services from Ireland in 2004 - this makes Ireland the 9th largest exporter to this market during last year
- Enterprise Ireland companies exported over $1.2 billion worth of products/services during 2004. Exports to the US have increased almost 5 fold since 1997.
- Irish Investment in the US is significant - according to the Centre for Transatlantic Relations, Ireland is the 9th largest investor in the market.
- Irish companies directly employ over 40,000 in the US.
- Irish companies have over 200 offices throughout the US. In 1997 there were only 50 Irish companies with a presence in the US.
- US companies with such household names as Pfizer, Merck, Citibank, AOL, Microsoft, Boeing, Computer Associates, Cisco to name a few have all sourced product/ services from Irish companies.
- US investment from Corporates such as Intel & Sun Microsystems and VC funds such as Accel & Benchmark Capital has supported the growth of Irish companies internationally.
- Enterprise Ireland acts as an important gateway to Irish industry and is actively working with many US corporations to source product/services from Ireland's growing indigenous base
- Enterprise Ireland is represented in the US with offices in New York, Boston, Silicon Valley and Los Angeles. An Enterprise Ireland executive is also based out of the Irish Embassy in Washington DC.
- For the first time Enterprise Ireland recently appointed an executive to work on a full-time assignment basis out of the National Institutes of Health. This assignment will assist Irish biotech companies secure additional funding and collaborative research partnerships with this key US Institute.
ENDS
ETE 1346
Last modified: 25/04/2005
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