25th October 2014
IDA Ireland mission includes one-on-one meetings with 17 target and client companies considering new job-creation projects in Ireland
Programme also includes meeting with lead negotiator on EU US trade deal which could have major benefits for Ireland
The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, departs this weekend to lead a 5-day investment and trade mission to east coast USA.
This is Minister Bruton’s 23rd major investment/trade mission since his appointment 44 months ago. As part of its strategy to support increased exports and jobs, this Government has more than doubled the number of trade missions since taking office.
The Minister will be accompanied by IDA Chief Executive Martin Shanahan on the investment mission to Boston, Washington DC, Philadelphia and New York, which involves a total of 27 meetings and events.
These include 17 one-on-one meetings with target and client companies considering new job-creation projects in Ireland. These 17 companies, mainly in the financial services, technology and healthcare sectors:
- Employ approximately 500,000 people globally
- Have total annual revenues of over €200billion
- Include multimillion dollar established companies as well as start-ups less than one year old
- Include companies who already employ thousands of people in Ireland but are considering new investments, as well as companies considering locating operations here for the first time
The programme also includes:
- A bilateral meeting with Mike Froman, US Trade Representative leading negotiations on the EU-US trade and investment negotiations, which were commenced during Minister Bruton’s presidency of the EU Trade Council, and which could bring major benefits to the Irish economy (see notes for editors)
- Meetings with dozens of other IDA target and client companies, as part of round-table and lunch events
- 5 Enterprise Ireland meetings and events, seeking to partner Irish exporting businesses with US companies who might buy their products and services
This will be the first Ministerial investment mission since the changes to corporation tax announced in this month’s Budget. It forms part of a programme of engagement by the Government with multinational companies on corporation tax issues, aimed at communicating to investors the certainty and enhanced competitiveness that now characterises our tax system. Minister Bruton will lead a further IDA Ireland investment mission to the West Coast and Mid West in mid-November as part of this programme.
Speaking before departing this weekend, Minister Bruton said:
“Foreign direct investment is at the heart of our jobs plan. Since we took office, multinational companies have added more than 18,000 direct jobs in Ireland – with major knock-on employment across the country – and our aim is to deepen and broaden that impact even further.
“On this investment mission to east coast USA we will be discussing specific job-creation projects in Ireland with 17 leading global companies, from fast-growing start-ups to some of the most established global corporate brands. I am confident that the discussions held this week will lead to jobs being created in the near future in cities and towns right across the country.
“I also look forward to discussing with these senior executives the recent changes to our corporation tax system announced in the Budget. Since 14th October, IDA and I have had a lot of engagement with investors on these changes, and the reaction we are getting is overwhelmingly positive. Investors now know what Ireland’s tax system will look like post-BEPS, and they know that this tax system will be highly competitive. The same cannot be said about the countries we are competing with for these investments. I am confident that, by continuing this programme of engagement, we can ensure that the impact of these changes is to increase the number of jobs we create in multinational companies in the coming years”.
ENDS
For further information please contact:
Press Office, D/Jobs, Enterprise and Innovation press.office@djei.ie
NOTES TO EDITORS
Negotiations between the EU and the USA on a proposed free trade deal, the “Transatlantic Trade and Investment Partnership” (TTIP), commenced in April 2013 after the EU agreed a mandate, under Minister Bruton’s Presidency of the EU Trade Council, to commence talks. Negotiations are now proceeding, led by the US Trade Representative and the EU Trade Commissioner on the respective sides.
The purpose of the meeting with Mike Froman for Minister Bruton is to seek to inject fresh impetus into the talks. Ireland stands to benefit disproportionately from a comprehensive deal , due to our close relationship with the USA and the open, trading nature of our economy – 1.1% could be added to GDP, and an extra 8,000 jobs created here, according to projections by Copenhagen Economics http://www.djei.ie/press/2014/20140620.htm . The deal would also bring major, much-needed benefits to the EU economy.
Schedule:
Sunday October 26th
19:20 Arrive into Boston
21:00 Briefing Dinner with IDA Ireland/ Enterprise Ireland
Monday October 27th - Boston
07.30 – 09.00 IDA/Enterprise Ireland Client Breakfast
09.30 – 10.15 Meet with Enterprise Ireland client company, construction/engineering sector
10.30 – 11.30 Meet with Enterprise Ireland client company, pharma sector
12.00 - 14.00 Meeting with IDA client company, financial services sector
16.00 Depart Boston Logan Airport for Washington DC
Tuesday October 28th – Washington DC
09.00 Meeting with IDA client company, technology sector
10:30 Meeting with IDA target company, technology sector
12:30 European Institute / Embassy / IDA Ireland Lunch Event
15.15 Meeting with Mike Froman, US Trade Representative
16.30 Meeting with World Bank re competitiveness issues
19.00 Depart DC for Philadelphia
Wednesday October 29 - Philadelphia
9:30 Meeting with IDA client company, financial services sector
11:00 Meeting with IDA client company, financial services sector
12:30 Meeting with IDA client company, technology sector
15:00 Meeting with IDA client company, healthcare sector
17:00 Meeting with IDA target company, healthcare sector
19:30 IDA/EI Client Dinner
Thursday October 30– Pennsylvania, New Jersey
09:00 Enterprise Ireland round Table Breakfast with companies
11:00 Meeting with IDA client company, technology sector
13:30 Meeting with IDA target company, biopharma sector
16:00 Meeting with IDA client company, healthcare sector
Friday October 31st – New York
07.00 Breakfast Meeting with IDA client company, financial services sector
08.00 Meeting with IDA client company, financial services sector
10:15 Meeting with IDA client company, financial services sector
12.00 Lunch meeting with IDA client company, financial services sector
15:30 Meeting with IDA target company, technology sector
19:10 Depart Newark Airport
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