The United States is the world's largest economy, accounting for approximately 25 percent of nominal world GDP
The United States is the world's largest economy
A strong economy and political stability in the United States are powerful attractions to foreign entrepreneurs and established businesses alike, resulting in a steady increase in direct foreign investment through mergers and acquisitions. The strong economy, coupled with technological innovation, has created robust consumer demand in the US marketplace that has steadily boosted GDP.
The US and Ireland have a unique and well established mutually beneficial economic relationship. Today, approximately 115,000 people are directly employed in over 700 US firms in Ireland. US firms in Ireland form a critical part of Ireland’s cutting edge, internationally traded goods and services economy in industries such as information & communications technology, biotechnology, pharmaceuticals, medical technologies and financial services.
Collectively US companies have US$188bn in foreign direct investment in Ireland. This represents 8% of all US investment in the EU and 5% worldwide. The US accounted for 74% of Ireland’s inward investment in 2011. Ireland is the number one location worldwide for US FDI in the information sector and third worldwide in the chemicals sector, which includes pharmaceuticals. US firms, in 2011, exported in excess of €100 billion of products and services from Ireland into world markets.
Irish companies directly employ an estimated 120,000 people within 227 companies at over 2,600 locations, in all 50 States across the USA. There is considerable scope to use Ireland as a platform for investing into the United States. The attractions of using Ireland include:
Similarly, Ireland is an ideal location for establishing activities outside of the US. In addition to the above, the attractions of using Ireland to expand activities outside the US include:
KPMG range of services
KPMG Ireland has an experienced and dedicated team focused on investment into and out of the United States. Together with our colleagues in KPMG United States, we provide our clients with complete tax advice on the issues that arise. Our tax services include advising on: