Tánaiste Opens New IDA Ireland Office In Irvine, CA

The Tánaiste, accompanied by Barry O'Leary, CEO of IDA Ireland, was on an official visit to the West Coast of the United States to help in the promotion of links between US Companies and Ireland. Today there are over 460 US companies in Ireland employing over 100,000 people and the US is Ireland's largest source of inward investment.

The Tánaiste, speaking in Irvine, said: "the opening of this second IDA office in California by IDA Ireland illustrates the importance of investment from the US West Coast to Ireland. IDA's existing office in California is currently located at Mountain View. The opening of the Irvine office is part of the Government's strategy to increase the level of foreign direct investment (FDI) from the US into Ireland and follows my opening of a new IDA office on the East Coast in Boston in November."

The opening of additional US offices by IDA Ireland is part of the Irish Government's worldwide strategy to increase the IDA's international presence in the attraction of foreign direct investment, which has also resulted in new offices being opened in Paris, Shanghai and Mumbai.

While on the US West Coast, the Tánaiste met with representatives from many local companies who have significant existing operations in Ireland and a number of potential clients. Approximately 70 companies from California have located operations in Ireland in sectors as diverse as Life Sciences, ICT, Financial Services and International Services. In recent months there have been significant announcements from many of these companies - for example PayPal (investing $19m); HP (investing $23m) and Intel (investing $66m) - in Research, Development and Innovation initiatives and expansions of other activities at their Irish operations, while Big Fish Games, just last week, opened a new operation in Cork, which is to employ up to 100 people.

"Ireland has consistently proven to be the preferred location in Europe for global companies successfully serving the lucrative European market. The level of foreign direct investment in Ireland is proportionately one of the highest in the world. Today, over 1,000 overseas companies have substantial international operations in Ireland. These include many of the leading companies in information technology and communications, life sciences, international services, and financial services", she said.

"Ireland offers many benefits to overseas companies that choose to use the country as their European base of operations. It attracts companies with its combination of business and technology skills, a congenial and supportive business environment, a Government that is pro-business, an internationally experienced workforce and low corporate taxes. Companies locating in Ireland have established European headquarters, research and development facilities, customer support centres, production operations and a range of business administration functions," she concluded.