Press release
Minister Burkes launches Ireland - San Francisco Bay Area Economic Report
From Department of Foreign Affairs
Published on
Last updated on
From Department of Foreign Affairs
Published on
Last updated on
Minister for Enterprise Trade and Employment Peter Burke TD has launched a new report on economic ties between Ireland and the San Francisco Bay Area. The report entitled ‘Growth and Transformation’ was prepared by the Bay Area Council Economic Institute with support of Team Ireland partners and business and academic communities in Ireland and San Francisco.
The report demonstrates the depth and maturity of Ireland’s relationship with the Bay Area through its trade, investment and people-to-people links. It further identifies significant opportunities for enhanced collaboration and growth. This includes deepening relationships between Ireland and Bay Area university, science, technology and investor communities; expanded business connections in sectors such as biotech, medical technologies, fintech and the green economy; and exploring opportunities for the all-island economy.
Tánaiste, Micheál Martin said: “This year we are celebrating 100 years of diplomatic relations between Ireland and the United States. While historically connections between our two nations are built on the story of migration, the report recognises the modern relationship and the strong bonds between the Bay Area and Ireland’s innovation and technology driven economies. Technology and disruption has the potential to address the most pressing economic and societal challenges. Both our regions stand to benefit by working together to harness this transformative potential.
"Under the Government’s Global Ireland Strategy, we are strengthening the Team Ireland presence on the West Coast to take advantage of these new opportunities. Later this year a new Talent and Innovation Attaché will be appointed to the Consulate of Ireland in San Francisco to continue to build partnerships between academic and innovation communities in Ireland and the West Coast.”
Launching the report, Minister Burke said: “Launching the report, Minister Burke said: “This new report underscores the immense importance of connections between Ireland and the San Francisco Bay Area. The economic relationship between Ireland and the United States is a mutually beneficial one. The combined value of trade and investment is more than one trillion euro. Over 970 US companies in Ireland directly employing 210,000 people. This includes many global companies in the digital and life science sectors from California who have established their European headquarters in Ireland. This new report highlights the importance of Ireland’s competitive business environment and strong talent pipeline for attracting US investment.
“This relationship is a two-way street. San Francisco also benefits from Irish companies investment in the region. Ireland is the seventh largest employer in the region with over 163 Irish companies supporting over 9,000 jobs. I look forward to the continued development of this relationship when I visit San Francisco later this year as part of a trade mission to the West Coast.”
The report can be found on the Bay Area Council Economic Institute website. It will be a valuable asset for Team Ireland (Ireland’s Consulate General in San Francisco, IDA, Enterprise Ireland and Tourism Ireland) in promoting Ireland’s trade, investment, tourism, research and innovation priorities across the US West Coast.
ENDS
Press Office
25 July 2024
Ireland – San Francisco Bay Area Report Launch
Talent and Innovation Attaché Network