FDI Firms Predict Job Growth, But Warn of Cost Risks

Almost half of US companies operating in Ireland anticipate hiring more employees in the next year, despite concerns over Donald Trump’s isolationist policies and their potential impact on global trade. A survey by the American Chamber of Commerce (AmCham) reveals that US multinationals remain optimistic about Ireland as a business hub.

However, 46% of companies say that a lack of specialized skills is making it difficult to fill vacancies, with another 20% citing housing shortages as a significant obstacle, and 18% pointing to the overall availability of talent as a challenge. Ireland is currently experiencing near full employment levels.

Regarding broader business expansion in Ireland, the two main concerns identified were cost competitiveness and housing, with 32% and 30% of survey respondents highlighting these issues, respectively.

The survey also found that 35% of respondents attribute their confidence in the Irish economy to its stable, pro-business environment. These results, released just before the general election, emphasize the importance of the US multinational sector in Ireland, which employs around 210,000 people.

AmCham’s annual Thanksgiving lunch in Dublin, attended by about 700 members and guests, will feature a speech by Finance Minister Jack Chambers.

The survey highlights key infrastructure concerns, with 37% of members calling for improvements to Ireland’s road network, while 30% emphasized the need for better public transport in regional cities and towns. Additionally, 24% focused on ensuring sufficient capacity at Irish airports.

Paul Sweetman, AmCham’s CEO, praised Ireland as a key location for investment and growth, crediting the country’s forward-thinking policies, the efforts of organizations like IDA and Enterprise Ireland, and strong collaboration with the US embassy and Irish governments for the continued success.

In a time of growing geopolitical uncertainty, Sweetman stressed that it’s crucial for Ireland to maintain a stable, pro-business, and competitive environment, with a strong commitment to free trade.

AmCham’s survey also notes Trump’s stance on trade, with his plan to impose tariffs on goods from Mexico, Canada, and China once he becomes president in January.