Sat, 30 May 2020

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 Ireland's 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 UK's EU referendum in June 2016.

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

The CEO of IDA Ireland, Martin Shanahan provided 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 Patrick's Day and remind investors of Ireland's 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 EY's 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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