Cost competitiveness a top issue for US companies here

Cost competitiveness is the the top issue for American companies looking to expand in Ireland, new data shows.

The latest survey of American Chamber members shows that 32% cited it as their top worry, up from 19% in the previous survey back in July.

Housing also continues to be a big issue, with 30% of members saying it's their biggest challenge to growth and expansion here.

210,000 people in Ireland are currently employed by 970 US multinationals.

Almost half of American Chamber members said they expect to increase the number of employees in their Irish operations over the next year.

A further 48% expect to maintain current employee numbers.

When asked what barriers their organisation is experiencing in filling vacancies in Ireland, 46% said it is a shortage of specialist skills, 20% said housing, and 18% said the general availability of talent.

Meanwhile, nine in ten members said their corporate headquarters continues to have a positive view of Ireland as an investment or growth location.

Furthermore, some 35% of respondents said Ireland's stable, pro-enterprise eco-system is the main reason for their organisation's confidence in the Irish economy.

"Over the past six decades, Ireland has fostered an exemplar community of business leaders and laser-focused policymakers to make Ireland a premier location for investment," said Paul Sweetman, CEO of AmCham.

"Longsighted policies, the tremendous work of our state agencies - the IDA and Enterprise Ireland - the dogged efforts of the business community and, close collaboration with the US Embassy and successive Irish Governments, have all resulted in phenomenal growth," he said.

"In a world where geopolitical shifts are becoming ever more prevalent, it is essential that Ireland maintains a pro-business, stable and competitive environment, all underpinned by being a leading advocate for open trade," he added.

Today's survey findings were published to mark Thanksgiving.