McGrath, the Minister of Finance, to Visit California to Meet IT Companies and Discuss Trade

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Finance Minister Mr Michael McGrath left for the United States, where he will be seeing Silicon Valley, Los Angeles, and San Francisco.

According to the Department of Finance, the visit’s objectives are to engage with tech companies that are present in Ireland and to advance trade and investment between the two nations.

According to a statement, the minister will meet with “key IDA client companies across technology, internet, and pharma sectors” and take part in Enterprise Ireland engagements that are focused on technology and healthcare during his first visit in San Francisco.

The State organization in charge of luring and keeping foreign direct investment in Ireland is the IDA.

While in San Francisco, McGrath will also attend a ceremony celebrating the 40th anniversary of the Californian city’s twinning with the city of Cork and meet California Treasurer Fiona Ma at the business school at Stanford University.

The Department stated, “The Minister will concentrate on creative industries and the area as a center for innovation” while in Los Angeles.

“Some of the major global players in this sector, many of which have significant and growing investments in Ireland and work closely with Screen Ireland, IDA Ireland, and Enterprise Ireland,” are among the people McGrath is scheduled to speak with.

The organization in charge of the growth of the Irish film industry is called Screen Ireland.

Speaking with members of the Irish diaspora in California, where many claim Irish ancestry, Minister McGrath expressed his excitement about meeting them.

Regarding Ireland’s connections with California, where 2.3 million people identify as Irish-born, there is a great deal to be happy about as well as a great deal of possibilities. Prior to leaving, McGrath stated, “My visit is focused on strengthening that relationship and assisting its continued growth.

950 American-owned businesses employ about 208,000 people in Ireland thanks to their presence there today. More than 290 of those businesses, which employ 75,000 people, are based on the US West Coast. To further break this down, 50,000 people work for Californian businesses.

Speaking of Irish businesses as “significant investors” in the US, he expressed his hope for a stronger “two-way relationship” in that area.

“Ireland is the ninth largest source of foreign direct investment (FDI) into the United States, employing 110,000 people in all 50 states, including 25,000 in California alone, through 700 Irish-owned businesses,” the speaker stated.

“I think there is still more potential, even with these already impressive figures.”

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