Business News

New York Stock Exchange Summit pledges 200,000 Irish jobs in US by 2020

By Business & Finance
14 March 2014
Ireland Day Bell Ring at NYSE

A summit of global business leaders set the ambitious goal of increasing to 200,000 the number of Irish jobs in North America by 2020. Ireland Day New York – now in its 4th year – returned to the New York Stock Exchange (NYSE), adding a vital business focus to annual St Patrick’s Day celebrations in the US.

Global business leaders, tech innovators, financial thought-leaders, media notables and government officials gathered today, March 14th, for a one-day international business summit. A leading networking platform for business interests worldwide, Ireland Day at NYSE facilitated discussion and debate under the theme ‘Brand Ireland INC’.

There are over 700 US companies operating in Ireland that contribute $204bn in FDI and €100bn in exports for the country, representing 9% of all US investment in the EU and 4.5% worldwide.

Further positive indicators of the strong trade relations between Ireland and the US is evidenced by the fact that Irish companies employ more than 120,000 people within 227 companies, at over 2,600 locations, in all 50 states across the US, and Irish FDI in the US is more than $25bn.

Ireland INC, which aims to increase economic ties between Ireland and the US, also launched a six-year strategy entitled ‘Ireland INC 2020: A Vision for the Future’ as part of Ireland Day at NYSE. The initiative will bring together political and business leaders from both Ireland and the US with a view to mapping a strategy to increase the number of Irish companies operating across the US.

Speaking about Ireland INC’s commitment to raise the number of Irish jobs in the US to 200,000, Ireland INC founder and CEO, Ian Hyland said it was evidence of the growing potential of Irish companies operating in the US and the strength of the Ireland INC brand.

“Ireland Day at the NYSE is a perfect example of the potential within Irish companies to leave their mark on the US market at a time when Ireland’s fortunes continue to rise,” Hyland said. “The mission of Ireland INC is to develop the next generation of Irish leadership globally, strengthen business connections and advance economic development between Ireland and the world.”

The Ireland Day summit at NYSE hosted more than 300 executives from leading international firms, including Fortune 500 companies, venture capital firms, entrepreneurial start-ups, and policy makers from the US, Ireland and around the world. Speaking on the topic of investing in Ireland, Wilbur Ross – a significant investor in Bank of Ireland – said that Ireland’s best days remained ahead and that there is no better time than now to invest in Ireland’s future.

The summit also hosted a session on ‘Ireland and the World’ with former Senator Martin McAleese highlighting the need for continued efforts regarding the Peace Process in Northern Ireland. Paddy Cosgrave, founder of The Summit, added that Ireland’s future lay in education and driving the global Irish network.

During the Ireland Day luncheon, actor Liam Neeson, honorary chairman of Irish Arts Center (IAC) in New York, accepted an award on the IAC’s behalf. Dr Martin McAleese was honoured for his ‘Outstanding Contribution to Ireland’ with regard to his role in the peace process in Northern Ireland.

Following the summit, a prestigious group of business leaders gathered on the NYSE podium to ring the closing bell in front of an audience of 200 million people globally.