US companies will keep positive view of Ireland even if tariffs imposed – survey
A survey of US companies that are members of the American Chamber of Commerce Ireland shows that 80% of respondents said they would continue to have a positive view of Ireland as an investment location if tariffs were imposed by the US on the EU.
According to the study, 90% of respondents said their corporate headquarters holds a positive view of Ireland for investment.
Almost two-thirds identified skills gaps in their organisation with digital and data, engineering, and machine learning and AI the main areas of concern.
Challenges to expansion were also highlighted, with housing supply identified as the key issue by 34% of respondents, which is up from 30% in the November survey.
Cost competitiveness and skills shortages were also noted as issues. The companies that responded to the survey represent 75,000 workers.
Some 63% of members surveyed said a skilled and highly skilled talent pool is Ireland’s main competitive advantage which has led their company to invest and expand here.
Meanwhile, 94% of respondents said Ireland’s position as a regulatory hub within the EU is important to Ireland becoming a leader in digital and AI with 60% of those saying this is extremely or very important to their company.
96% of respondents said EU investment in AI is important to ensuring Ireland remains a destination of choice for investment.
All of the members that responded to the latest survey said security of Ireland’s energy grid as an important factor to maintaining US investment in Ireland.
The research is being released as the American Chamber today hosts its annual Global Business Conference in Dublin which brings together industry experts and stakeholders to discuss the key global trends affecting member companies and the future of US foreign direct investment (FDI) in Ireland.
“As Ireland looks to grow inward investment and enhance the US-Ireland relationship, we must focus on addressing the challenges and opportunities that currently exist for business and talent, particularly housing, infrastructure and cost-competitiveness,” said American Chamber CEO Paul Sweetman.
“And while much has changed these past six months, a new government in Ireland, a new EU Commission, a new Administration in the US, addressing these competitiveness challenges, above all else, will be the most significant factor impacting our future, long-term economic growth,” Mr Sweetman said.
