Washington’s special trade envoy has hinted at American investment in Northern Ireland if stability is restored in the government.
US businesses want to invest in the country due to its unique access to European single market as well as the UK market.
Joe Kennedy III, Washington’s special trade envoy, said Northern Ireland has an “awful lot to offer”.
Having access to both markets, he said, makes up for higher tax rates in the Republic of Ireland.
“Taxes are certainly an important calculation for the business community”, he said.
“So is talent, so are employees, so is quality of life, so are the other services that can be provided. My point is that Northern Ireland has an awful lot to offer.
“If it didn’t, you wouldn’t see 230 American companies here. They chose to be here. They didn’t have to choose to be here.”
Kennedy has been talking to Northern Irish business groups to get understand of what they need and what industries they want to target.
But political instability is preventing US investment, he said. If stability is restored, American businesses will seek to invest in the country.
He added: “If you’re going to talk about making investments of thousands of employees, millions, tens of millions, hundreds of millions of dollars … links to government are important.” Kennedy’s comments come as it was reported yesterday by the Conservative Post that Northern Ireland’s private sector is continuing to see economic growth and increased consumer confidence.
In March, private sector growth rose at its fastest rate in a year with output and sales up with only London seeing a sharper rate of growth across the UK.
Exports were also up in March in addition to a record rise in employment levels.
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