Housing is a major concern for US multinationals looking to create jobs

Almost two-thirds of large US firms in Ireland expect to hire new staff over the next year but say worker accommodation is a problem if they want to expand.

A survey by the American Chamber of Commerce in Ireland found that 61 per cent of US multinationals intend to create jobs in Ireland in the next 12 months.

Almost all companies surveyed (94 percent) see the country positively as domestic robe base.

But 33pc said housing is the most important issue to solve for US multinationals to expand.

The survey, conducted last week, found that 83 per cent of the companies surveyed said the number of employees in their Irish operations had increased over the last 12 months.

However, 3.7 percent said they expect to see job cuts over the next year, while 35 percent expect no change in headcount.

The poll comes after big US tech companies like Meta, Amazon, Google and Microsoft, with Tánaiste Leo Varadkar saying this week “there’s more to come.”

Almost all multinational companies surveyed by the American Chamber (98 per cent) indicated that the availability of housing is important for securing foreign direct investment (FDI) related jobs in Ireland.

And 96pc said reforming the planning system would provide certainty and help preserve FDI jobs, while 96pc said certainty about energy costs and supply was important.

Mark Redmond, chief executive of the American Chamber, said Ireland was “facing headwinds in the global economy”.

“We are all aware of the challenges that all leaders and their employees are currently facing,” he said.

“Challenges like energy costs, the highest inflation rates in many years, supply chain issues and access to talent.”

According to the Chamber, there are around 900 US companies in Ireland employing almost 200,000 people.

The survey comes the same week the OECD and Irish Fiscal Advisory Council warned of a slowdown in economic growth next year as inflation, higher interest rates and the war in Ukraine hit Ireland’s key trading partners.

The domestic Irish economy is forecast to grow little over the next year, although the multinational sector is expected to remain buoyant, although growth is set to slow sharply into 2022.

Meanwhile, a survey of Irish small and medium-sized businesses by Fintech Wise Business shows 70 per cent fear closing next year amid rising costs.

https://www.independent.ie/business/jobs/housing-main-issue-for-us-multinationals-as-they-seek-to-add-jobs-42170085.html Housing is a major concern for US multinationals looking to create jobs

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button