US firms positive about the future in Ireland - American Chamber of Commerce Ireland

US multinationals remain optimistic for the future of their businesses in Ireland, despite the current economic pressures, according to a survey by the American Chamber of Commerce Ireland.

Ahead of its annual Thanksgiving lunch in Dublin today, AmCham published its survey which found that 60% of US firms expect the number of employees in their Irish operations to increase over the next 12 months, with 33% expecting to maintain current employee number.

91% said their corporate headquarters continue to have a positive view of Ireland as an investment or growth location.

However, a larger majority, 96%, said that reaching 100% capacity Ireland's airports and ports is a concern for continued growth and investment.

AmCham’s survey shows that housing continues to be the top concern for multinational employers, with 38% of members saying it is important to enabling their business to expand in Ireland.

A further 18% of members said that cost competitiveness is the most important challenge for Ireland to overcome for their company to expand in Ireland while 13% said skills shortage.

The survey also showed that 98% said an increase in personal taxes, on high earners, would be damaging to FDI growth and investment in Ireland - with 60% saying it would be either very or extremely damaging.

100% of the multinationals surveyed said high income earners are important to building teams, and supporting further job creation, within MNCs in Ireland with 84% saying this was either very or extremely important.

Mark Redmond, Chief Executive, AmCham, said the survey shows that members remain deeply committed to their Irish operations, "and while some in the tech and pharma sectors have experienced a period of adjustment globally in 2023 following stellar growth during the pandemic, overall the outlook for the year ahead is positive, reflecting the strength and depth of their Irish operations".

He said it is important that Ireland addresses infrastructure issues including housing and transport capacity in our airports and ports, to ensure the country maintains its status as a great location for FDI.