More than six in 10 US firms with operations in Ireland (61%) expect to increase their headcount here over the next 12 months, research from the American Chamber of Commerce Ireland published for Thanksgiving shows.
Some 83% of US companies have increased the number of employees working within their Irish organisations over the past year, with 94% agreeing that their corporate headquarters has a positive view of Ireland as an investment and growth location.
Just 4% of US firms in Ireland expect to cut jobs, while 35% don't believe they will make any changes to employment levels. The research comes after US tech giants Meta and Twitter each announced hundreds of job cuts in Ireland.
There are now 900 US companies with operations in Ireland -- up from 800 two years ago -- employing almost 200,000 people, spending €12.5bn on payroll, and a further €8.8bn on goods and services, supporting a further 160,000 jobs.
A third of Chamber members questioned for the survey, conducted last week, said housing is the most important issue to overcome to allow their company to expand in Ireland, while 98% said the availability of residential accommodation is important to maintaining foreign direct investment employment in Ireland.
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Furthermore, 96% of respondents also said reform of the planning system to provide certainty of process and timeframe is important to maintaining FDI employment.
On the subject of energy costs and energy supply, 96% of members said certainty is important to maintaining FDI employment.
"We are all acutely aware of the challenges that are in front of all business leaders and their employees at the moment. Challenges like the cost of energy, the highest inflation rates in many years, supply chain issues, and access to talent," said Mark Redmond, CEO of American Chamber of Commerce Ireland.
"Ireland greatly benefits from being one of the world’s most globalised small countries, with an extraordinary level of world-class multinational investment and talent. But this means that Ireland is also exposed to headwinds in the global economy.
"Because of the huge diversity of US businesses in Ireland, we are currently seeing continued benefits and growth while at the same time cognisant of the impact these headwinds can have."
There are now over 700 Irish companies in the US, employing people across all 50 states.
(Pic: Shutterstock)
