AGG Corporate & Finance partner and member of Ireland INC, Mike Burke, contributed a guest column titled “The Long Journey Home” for the Ireland INC US 250 Index 2022, a special report index of 250 Irish companies investing and operating across the U.S.
“Ireland is a significant player in the U.S. economy: Irish foreign direct investment in the United States was approximately $343.5 billion in 2019 and it supported 336,400 U.S.-based jobs,” said Mike. “The Irish knowledge-focused economy develops world-leading companies and technology important to key areas of the U.S. economy.”
As growth of Irish investment in the U.S. is expected, Mike advises Irish companies thinking of expanding to the U.S. to remember the following suggestions:
- There is no single way to succeed in the U.S. market.
- A consistent presence in the U.S. — for market research, due diligence, meeting customers, or for any similar reason — is needed to ensure the success of the expansion.
- Do thorough due diligence on agents/helpers/fixers before engaging them, and then only engage them through a written contract.
- An Irish company’s expansion team should include the company’s relevant officers, U.S. and Irish legal counsel, and U.S. and Irish tax accountants.
- An Irish company looking to expand to the U.S. should consider whether a U.S. subsidiary is needed.
To read the Ireland INC US 250 Index 2022 and Mike’s full column, please click here.