70 Companies have invested in Ireland as a result of Brexit says IDA Ireland

IDA boss Martin Shanahan speaking at the New York Stock Exchange earlier this week
IDA boss Martin Shanahan speaking at the New York Stock Exchange earlier this week

UP to 70 individual investments related to Brexit, bringing with them more than 5,000 associated jobs, have been approved since the UK’s EU referendum in June 2016, figures released by the Irish foreign investment Agency IDA Ireland.

Speaking at the Harvard Club in New York at a conference hosted by Irish Central called ‘Understanding Brexit’, IDA CEO Martin Shanahan said the figures were “another reminder of how our European Union membership and stable pro-enterprise policies are appealing to investors who are looking for certainty”.

“For US companies with ambitions to be global players, Ireland is a natural fit for their international operations,” he added.

IDA Executives across the world are hosting events throughout the week to mark Saint Patrick’s Day and remind investors of Ireland’s strong proposition.

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

IDA Ireland has engaged with clients throughout the Brexit process. Uncertainty remains on the final business impact of Brexit 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 firms such as Barclays, Morgan Stanley, TD Securities and S&P Global.