MORE THAN 200 representatives from US companies gathered at the World Trade Centre in Boston yesterday for the inaugural Ireland: Gateway to Europe conference.
The event, which was organised by Dublin-based professional services companies, aimed to encourage US businesses, particularly small to medium-sized firms, to expand into Ireland.
Addressing delegates, US congressman Richard Neal said the past decade had been “transformative” for Ireland.
“The American investor and the American business community can now look at an all-island institution. They now have access to six million people who are extraordinary well educated.”
Ireland’s geographical position also offered companies access to a market of 500 million people across Europe, he said. “That’s a good investment for America.”
According to Frank Keane of MKO Partners, one of the co-founders of the event, the aim of Gateway to Europe was to give clarity to US businesses and their advisers on the issues involved in locating businesses in another jurisdiction. “This involves everything from tax and accountancy issues to lifestyle considerations such as accommodation or education options for families.”
Delegates at the one-day event heard from Irish experts in taxation, financial services, office management and intellectual property about Ireland’s advantages as an investment destination. IDA representatives also addressed delegates.
At the plenary session on financial services, John Bohan of fund administration company Apex Fund Services said Ireland’s tax rate and double taxation agreements were among its key advantages as a funds industry hub, pointing out that Irish-domiciled funds surpassed the €1 trillion mark for the first time last year.
Almost half of the American companies represented at the event were from the information and computing technology category. Life sciences, intellectual property, financial services and the venture capital sector were also strongly represented.
Among the US companies present were Intune Networks and Silicon Valley Bank, as well as smaller firms such as CSP Inc. The Massachusetts-based IT company employs 150 people, 50 of whom are based in Germany, although it has no presence in Ireland.
Some 25 Irish companies exhibited at the event, which was organised by accountancy firm MKO Partners, Sigmar Recruitment, law firm Byrne Wallace and engineering and project management company FKM Group.
Among the Irish companies at the event were AIB, Ethos Engineering, Cemac Office Solutions, office technology firm Digicom and Glandore, which offers office and business set-up services to international businesses establishing bases in Dublin and Belfast.
VHI and IFG Corporate Pensions, which provide corporate health insurance and pension plans to international companies in Ireland, were also present.
Stressing the strong trade links between Massachusetts and Ireland, the Republic’s consul general to Boston, Michael Lonergan, said there was potential to develop that “even further”.
