Bruton: Potential investors concerned about referendum No vote04/05/2012 - 14:21:59
Senior decision-makers in multinational companies "are considering investing in Ireland but are concerned about the possible fallout of a No vote" in the upcoming EU fiscal treaty referendum, Jobs Minister Richard Bruton has claimed.
The Minister was speaking from Chicago on the final day of a five-day, five-city IDA trade and investment mission.
He said there was a "strong pipeline" of investments being considered by the multinational companies he has met, but that the prospects of delivering these projects is undermined by the companies’ concerns about the fallout of a No vote.
"The senior decision-makers I have met this week in major US companies are considering specific plans to invest and create jobs in Ireland, and are very impressed by what we have to offer, particularly through our tax rate, our skilled workforce and our improved competitiveness," he said, citing also recent job announcements from companies including PayPal, Sky, Apple, Mylan, Amgen, and Cisco
"The message I am getting in boardrooms in the United States this week is that more and more companies are considering investing in Ireland and creating the jobs we badly need," he added.
“However the referendum is being discussed in these meetings, and these companies are seriously concerned about any developments which could undermine the stability of our economy or our relationship with Europe.
"They are saying to me very candidly that these issues are very important for their investment decisions."
The Minister is meeting a total of 19 companies on his US trip to Boston, Raleigh, Atlanta, Minneapolis and Chicago, principally in the health/life sciences and technology sectors.
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