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U.S. Companies Maintain Faith In Ireland

U.S. companies remain optimistic about growing in Dublin, despite the headwinds.

While recent job losses at U.S. tech companies such as Meta and Twitter have led to concerns about the possible impact on Dublin’s economy, more than 60% of U.S. companies with bases in Ireland expect to increase their headcount over the next 12 months, according to new research.

The survey of American Chamber of Commerce Ireland members revealed that just under 4% of U.S. of firms expect to decrease employee numbers, while 35% expect to make no changes, RTE reported.

There are around 900 U.S. companies operating in Ireland, employing almost 200,000 people.

Meanwhile, 83% of respondents to the survey said that they have increased the number of employees in their Irish operations over the past year and 94% added that their corporate headquarters had a positive view of Ireland as an investment or growth location, based on the experience of their Irish operations this year.

"We are all acutely aware of the challenges that are in front of all business leaders and their employees at the moment," American Chamber of Commerce Ireland CEO Mark Redmond said. 

"Challenges like the cost of energy, the highest inflation rates in many years, supply chain issues and access to talent."

Housing remained the top concern for members, with a third saying it was the most important issue to overcome to allow for further expansion, while 98% of those surveyed said the availability of residential accommodation is important to maintaining foreign direct investment employment in 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," Redmond said.