Business minister Heather Humphreys is leading an Enterprise Ireland and IDA Ireland trade and investment mission to Nashville and New York.

The mission aims to strengthen economic ties with Nashville, a rapidly expanding growth centre in the US, and the city of New York, with an overall focus on increasing Irish exports to markets outside of the UK to 50 per cent by 2020.

As the world’s largest consumer market globally, the US is a key economic partner for Ireland and the perfect launch pad for Irish businesses who want to scale and develop a presence within their sector overseas. Irish companies employ over 100,000 people across the 50 states, with 85,110 of these employed by EI client companies.

“Market diversification has never been more important than it is now with Brexit on the horizon”

Three Enterprise Ireland backed companies last week announced their increased presence in the US market, including Prodigy Learning, Go Contractor and UrbanVolt.

The future of media and mobility

Minister Humphreys commenced the Trade Mission in Nashville on Friday meeting with a leading automotive OEM to discuss capability in Connected Autonomous Shared Electric Vehicles (CASE).

The future of mobility is currently one of the single biggest topics in global markets, with the global CASE market predicted to be worth over €60 billion by 2035. Today’s meeting will provide a key platform to highlight current and future opportunities for Irish companies in this evolving market.

The visit coincides with a period of rapid growth in Nashville’s healthcare sector; the city is recognised as a national health care industry capital in the United States and a global health care industry leader.

More than 500 health care companies are located in Middle Tennessee, making it the region’s largest and fastest-growing industry. Minister Humphreys will engage with a number of key healthcare organisations in the region to discuss further opportunities for collaboration.

The Minister will also meet and engage with senior executives from the digital media and software sectors in New York, providing an opportunity to increase awareness of the innovative capabilities of Enterprise Ireland supported companies in numerous sectors including digital technology and to strengthen the relationship between Irish companies and their local partners.

“Market diversification has never been more important than it is now with Brexit on the horizon,” said Minister for Business, Enterprise and Innovation, Heather Humphreys, TD.

“Irish companies already make a significant impact to the US economy, but I want to see that footprint growing even further.

“In the coming days, I will be engaging with key decision makers at the highest levels in Government and industry in Nashville and New York. My key goal will be to promote Ireland as both a source of world-class products and services and as a world-leading destination for FDI,” Humphreys said.

Manhattan image: blurAZ/Shutterstock 

Written by John Kennedy (john.kennedy3@boi.com)

Published: 9 September, 2019