Minister Martin Leads Enterprise Ireland visit to East Coast US

Contracts Worth €55m for Irish Companies in the US to be Announced this Week

Irish companies are expected to announce almost €55m in new business in the United States this week during Enterprise Ireland's trade visit to the East Coast of America led by the Minister for Enterprise, Trade and Employment Micheál Martin T.D. The Minister is accompanied by Frank Ryan, Chief Executive Officer, Enterprise Ireland.

Speaking ahead of the trade visit Minister Martin announced that Irish companies now employ over 80,000 people in the US. This represents a 100% growth in US citizens employed by Irish companies in 2004. There are now over 200 Irish companies with 1300 Irish company locations throughout all 50 states. Since the beginning of this year alone, 24 Enterprise Ireland client companies have opened offices in the States while more than 20 US companies have been acquired by Irish companies over the past 12 months.

Minister Martin commented:

"These results are the fruits of a new generation of Irish entrepreneurs taking advantage of the huge business opportunities that are available in the US. The United States remains a significant market for Irish enterprise with exports to the US reaching over €1.1bn - an increase of 8% on the previous year.

"The future success of the Irish economy will be influenced by many factors - not least the strong ties between Ireland and the US and the emergence and growth of upcoming Irish high-tech businesses. Over the course of the week we expect a number of significant contracts to be signed by Irish companies operating in the US. These contracts demonstrate the faith US industry has in the capability and potential of Irish owned companies and the strength of their product offering."

Tom Cusack, Enterprise Ireland's Director for the Americas added:

"In spite of the difficulties posed by a weak dollar, Irish companies continue to win significant business in this market. The last number of years has seen phenomenal growth in Irish investment in the US. This, in turn, is driving the ambition levels within Irish industry to significantly grow their international business.

“Enterprise Ireland is working proactively to encourage new entrants to this market and assist them in securing business quickly as well as working with more advanced companies on achieving scale."

Enterprise Ireland's trade visit to the East Coast of US takes place from Monday 24th September to Friday 28th of September and will take in Washington DC, New York and Boston. It will involve a number of Ministerial meetings with Enterprise Ireland clients and potential US investors.

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For further information contact:

Press Office, Department of Enterprise, Trade and Employment, 01-6312200

Press Office, Enterprise Ireland, Tel: +353 (0) 1 808 2000

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