REMARKS BY PRESIDENT McALEESE AT AN ENTERPRISE IRELAND BUSINESS BREAKFAST, FAIRMONT HOTEL, BELLEVUE
REMARKS BY PRESIDENT McALEESE AT AN ENTERPRISE IRELAND BUSINESS BREAKFAST, FAIRMONT HOTEL, BELLEVUE, SEATTLE, WEDNESDAY 25TH MAY
Ladies and Gentleman.
Good morning and thank you for being here so early in the morning and for showing such interest in furthering business links between Ireland and the beautiful American North West. It is my first time here and I am privileged to lead, with Enterprise Ireland, one of the largest trade missions to the USA in many years. We all welcome this unique opportunity to meet with you and to develop the ties of simple human friendship, which help underpin successful commercial relationships.
With me are 30 high technology Irish companies, representing sectors ranging from mobile telecoms to aerospace. Many are already doing significant business here in the North West and they have robust key partnerships in place. Many others are actively seeking to establish and develop new business here. It is easy to see why, because the business synergies between Washington State and Ireland are self-evident. Seattle’s concentration of high tech industries mirrors that of the Irish software industry, where both overseas-owned and Irish companies, have been performing extremely well internationally. Our small island economy of some four million people has transformed itself into one of the world’s top three leading producers and exporters of software. Over 750 software companies are operating very successfully from their Irish base and some 600 of these companies are Irish owned.
The high concentration of telecommunication providers in the Puget Sound area makes it a logical trading partner for Ireland. The Irish mobile communications sector is one of the key contributors to Ireland’s high technology export success story and is made up of high value added, knowledge-intensive companies that are investing heavily in R&D. Ireland is now recognised as a centre of excellence for the development of new and innovative telecoms technologies and included on the Trade mission are a number of Ireland’s leading companies in mobile communications.
In many ways this area is synonymous with Aerospace and while we have historic links that can be traced back to 1919 and that famous first non-stop Alcock and Brown transatlantic flight which landed on the west coast of Ireland, today it is not history’s anecdotes that consume us as much as they may inspire us. Today we are determined to be part of the contemporary aviation story. It’s a sector which has grown considerably in Ireland over the last decade, and Irish companies compete comfortably on the world stage, with niche innovative technology and services solutions.
I know it is a little early in the morning for economic statistics but I’ll keep them to a minimum. Among the things worth saying is that in recent years, Ireland’s average annual growth was more than three times that of European Union and OECD countries, and one of the highest in the world. Our economy is forecast to continue its strong growth in the coming years. We are a small country, highly dependent on trade for our economic progress. We have worked hard to transform our country’s future and to transcend its past. Wide access to high-level education has opened up our greatest natural resource which is the brain power, the genius of our people. A commitment to a contractual model of social partnership is not just a good example of practical patriotism but of good economics. The government, trade unions, employers, farmers and voluntary sector have through their pursuit of consensus created the kind of social and industrial stability which is attractive to inward investors and supportive of indigenous investment. The benign corporate tax regime had added to the cultural compatibility and access to European markets which have led so many investors to locate in Ireland. Enterprise Ireland has vigorously showcased our island’s potential and the Irish companies you are meeting here are excellent examples of our strong commitment to winning business around the world and keeping it.
The United States is of course the most important market in the world for Irish technology companies, and accounts for over one-third of our exports so your home market is a priority for Irish companies seeking strong global competitive positions.
Trade relationships between us have entered a new era from the days when we exported mostly our people because we had so little opportunity for them at home and we relied on their hard-earned dollars to keep the home fires burning. Today, a new generation of successful Irish entrepreneurs, many of whom have worked with US companies in Ireland, have moved across to the US to take advantage of the huge business opportunities in this country. Irish companies have invested more than 25 billion dollars in America, and employ over 65,000 people. There are now over 200 Irish companies operating throughout the US in cities such as New York, Boston, Atlanta, Los Angeles and San José. We are in fact the ninth most important source of foreign investment here and the fourth most important source of foreign investment in Britain.
Ireland’s success story does not end there. In the wake of the Great Famine, it is estimated that over one million of our people made their way across the Atlantic to find a new way of life here in the United States. That emigration continued for many years thereafter and until the last decade our population declined as a result.
Today it’s a different story. More people are coming to Ireland than are leaving, and the population is increasing steadily. Many Irish living in America are now moving back home because of the opportunities that have been created by a vibrant, innovative enterprising economy.
The future success of the Irish economy will be influenced by many factors – not least the strong ties between Ireland and the US and the emergence and growth of upcoming Irish high tech businesses. These Irish companies have capability, commitment and resources in information technology, telecoms, financial services and the life sciences. Enterprise Ireland plays a key role in the encouragement and development of Irish owned companies to enable them become world players. The agency is an important centre of gravity for pursuing commercial relationships of all shapes and sizes and for supporting their growth and advancement.
Given Ireland's industrial and technical strengths and competitiveness in world markets, and given the strength of Ireland’s business and trade presence in the US, I believe that there is very substantial potential for an accelerated expansion of our trade partnership in the coming years. I am delighted to have had the opportunity of meeting you all this morning and I hope that this meeting augurs well for future business relationships and opportunities between your own organisations and many of Ireland’s most outstanding and experienced companies.
Thank you for your attention and your attendance this morning. I am happy to take some of your questions.