Abstract
The USA has been a long-standing economic partner of Northern Ireland, and US investment has always played a major part in the economy of the province. However, there is more to this business relationship than a simply economic dimension. The USA was also thoroughly involved in the peace process that led to the signing of the Good Friday Agreement on 10 April 1998 putting an official, if not complete, end to cross-community tensions in Northern Ireland. Peyronel analyzes the position of US investment in Northern Ireland, explores the interaction of the political and economic considerations prevailing in the American investment strategies, and finally studies the challenges that have to be met by both partners to keep up the long standing tradition of American investment in Northern Ireland.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Robert Bell (1958) ‘Investment in Northern Ireland’, Dublin, Journal of the Statistical and Social Inquiry Society of Ireland,Vol. XX, Part II, 1958/1959, read before the Society on 17 November.
- 2.
Garry Hart (2015) ‘Peace envoy Garry Hart: America will invest in Northern Ireland, but only if there is political and economic stability’, Belfast Telegraph, 13 June.
- 3.
The Act of Union, creating the United Kingdom of Great Britain and Ireland, was passed in 1800. The Union lasted until the partition of Ireland in 1920 as a result of the passing of the 1920 Government of Ireland Act.
- 4.
Proinnsias Breatchnach (2007) ‘Inward Investment in Peripheral Regions’, Maynooth University, p. 134.
- 5.
Joseph E. Thompson (2001) American Policy and Northern Ireland: a Saga of Peacebuilding, (Westport: Praeger), p. 204.
- 6.
Francis M. Carroll (2005) The American Presence in Ulster: a Diplomatic History, 1796–1996, (Washington, DC, The Catholic University of America Press), 2005, p. 193.
- 7.
Douglas Hamilton (1993) ‘Foreign Direct Investment and Industrial Development in Northern Ireland’ in Paul Teague, The Economy of Northern Ireland: Perspectives for Structural Change, (London, Lawrence and Wishart), p. 196.
- 8.
Ibid.
- 9.
Portland Trust (2007) Economics in Peace-making: Lessons from Northern Ireland, May, p. 23.
- 10.
The Agreement, also known as the Good Friday Agreement, brought seven years of multi-party peace negotiations in Northern Ireland to an end. It was signed on 10 April 1998, laying down the principles of shared devolved powers in Northern Ireland and of the restructuring of police and justice. Economic issues were also raised, and, in particular, the issue of fair employment.
- 11.
DUP: Democratic Unionist Party of Northern Ireland, the more radical of the two Unionist parties in Northern Ireland.
- 12.
BBC News (2008) ‘US unveils Northern Ireland Investment Package’, 11 April.
- 13.
Department of Enterprise Trade and Industry (2002) Facts and figures from the Interdepartmental Business Register, Edition Four, May 2002.
- 14.
Department of Enterprise, Trade and Investment (2008) FDI Research Project- Final Report, February, p. 24.
- 15.
Department of Enterprise, Trade and Investment (2012) Inter-departmental Business Register.
- 16.
Invest Northern Ireland website, http://www.investni.com/international/usa.html
- 17.
Invest Northern Ireland (2015) 2015 Key Business Facts about Northern Ireland, March.
- 18.
Northern Ireland Executive (2010), ‘Enterprise Minister Arlene Foster will lead a 17 company-strong trade mission to the USA this month’, 10 March, http://www.northernireland.gov.uk/news/news-deti/news-deti-march-2010/news-deti-100310-foster-leads-trade.htm
- 19.
Portland Trust (2007) Economics in Peace-making: Lessons from NI, p. 28.
- 20.
US–Ireland Alliance was founded in 1998 with the aim to ‘connect current and emerging American and Irish leaders in various spheres—including education, politics, business and the arts- for the mutual benefit of both countries’.
- 21.
Trina Vargo (2000) ‘Clinton’s Legacy in US Support for Both NI Traditions’, Irish Times, 9 December.
- 22.
The International Fund for Ireland is an independent international organisation which was created in 1986 by the British and Irish governments to promote economic and social development throughout Ireland and encourage dialogue and reconciliation between the unionists and the nationalists.
- 23.
Roger McGinty (1997) ‘American influences on the Northern Ireland Peace Process’, The Journal of Conflict Studies, Vol. XVII, N°2, the CREGG Center for the Study of War and Society, Fall 1997, p. 6.
- 24.
BBC News (2008) ‘President leaves Northern Ireland after visit’, 16 June.
- 25.
Embassy of the United States, London, UK, (2007) ‘Under Secretary Dobriansky Hosts Northern Ireland Ministers and U.S. Business Leaders to Discuss Investment in Northern Ireland’, 28 June.
- 26.
Paula Dobriansky, Under Secretary for Democracy and Global Affairs, (2008) ‘Remarks at U.S.-Northern Ireland Investment Conference Reception’, Belfast, Northern Ireland, 7 May.
- 27.
BBC News (2013) ‘G8 Summit: US will stand by Northern Ireland, says Obama’, 17 June.
- 28.
BBC News (2012) ‘US Department of State, Clinton invites Northern Ireland’s leaders to US’, 7 December.
- 29.
US Department of State (2012) ‘Remarks with First Minister of Northern Ireland, Peter Robinson and Deputy Minister of Northern Ireland, Martin McGuinness’, 7 December.
- 30.
Northern Ireland Chamber of Commerce and Industry (2014) ‘Big business in the Big Apple for Belfast firms’, June 14.
- 31.
BBC News (2011) ‘Peter Robinson and Martin McGuinness on a US investment trip’, 8 September.
- 32.
Garry Hart (2015) ‘Peace envoy Garry Hart: America will invest in Northern Ireland, but only if there is political and economic stability’, Belfast Telegraph, 13 June.
- 33.
fDiIntelligence.com (2014) European Cities and Regions of the Future 2014/2015, February/March.
- 34.
Lough Shore Investments (2011) ‘Team Northern Ireland is missing the point: focus on Wall Street, not Washington.’
- 35.
Ibid.
- 36.
British American Business is a transatlantic business organisation dedicated to helping companies on both sides of the Atlantic connect and build business relations together. http://www.babinc.org/aboutus
- 37.
British American Business (2010) British American Business Report 2010.
- 38.
fDi Intelligence (2012) Improving the Quality of Foreign Direct Investment to Northern Ireland, Executive summary, Financial Times Business, July, p. 14.
- 39.
Invest Northern Ireland (2010) ‘Foster announces new inward investment project on US mission’, 16 March.
- 40.
This is an initiative of the Secretary’s Office of Global Partnerships at the US Department of State to facilitate public-private connections.
- 41.
US Embassy in London (2014) ‘Special Representative for Global Partnerships Andrew O’Brien to Lead First U.S. Partnership Opportunity Delegation to Ireland, Northern Ireland’, 24 January.
- 42.
Michael Hennigan (2015) ‘Northern Ireland may have a 12.5% corporation tax rate from 2017’, Finfacts Ireland, 9 January.
- 43.
Office for National Statistics (2015) Who owns foreign businesses in the UK 2013, 23 July.
- 44.
Financial Times (2012), ‘fDi Intelligence Report’, p. 14.
Bibliography
BBC News. (2008a). US unveils Northern Ireland investment package. 11 April, http://news.bbc.co.uk/2/hi/uk_news/northern_ireland/7341976.stm. Accessed 9 June 2015
BBC News. (2008b). ‘President leaves Northern Ireland after visit’, 16 June. http://news.bbc.co.uk/2/hi/uk_news/northern_ireland/7455806.stm. Accessed 9 June 2015.
BBC News. (2011). Peter Robinson and Martin McGuinness on a US investment trip. 8 September. http://www.bbc.co.uk/news/uk-northern-ireland-14831489?print=true. Accessed 10 Sept 2015.
BBC News. (2012). US Department of State, Clinton invites Northern Ireland’s leaders to US. 7 December, http://news.bbc.co.uk/2/hi/uk_news/northern_ireland/8500749.stm. Accessed 10 June 2015.
BBC News. (2012b). US Department of State, Clinton invites Northern Ireland’s leaders to US. 7 December. http://news.bbc.co.uk/2/hi/uk_news/northern_ireland/8500749.stm. Accessed 10 June 2015.
BBC News. (2013). G8 summit: US will stand by Northern Ireland, says Obama. 17 June. http://www.bbc.com/news/uk-northern-ireland-22926292. Accessed 29 Sept 2015
Bell, R. (1958). Investment in Northern Ireland. Dublin, Journal of the Statistical and Social Inquiry Society of Ireland, XX, Part II, 1958/1959, read before the Society on 17 November. http://www.tara.tcd.ie/handle/2262/4418. Accessed 8 Jan 2013.
Breatchnach, P. (2007). Inward investment in peripheral regions. Maynooth University. http://eprints.maynoothuniversity.ie/3084/1/PB_Peripheral_Regions.pdf. Accessed 10 Jan 2013.
British American Business. (2010). British American Business Report 2010. http://www.british-american-business.com/p_099_investing_Northern_Ireland.php. Accessed 10 Sept 2015.
Carroll, F.M. (2005). The American presence in Ulster: A diplomatic history, 1796–1996, (Washington, DC: The Catholic University of America Press).
Department of Enterprise Trade and Industry. (2002). Facts and figures from the Interdepartmental Business Register, Edition Four, May.
Department of Enterprise, Trade and Investment. (2008). FDI Research Project- Final Report. February, p. 24.
Department of Enterprise, Trade and Investment. (2012). Inter-departmental business register.
Dobriansky, P., & US Under Secretary for Democracy and Global Affairs. (2008). Remarks at U.S.-Northern Ireland investment conference reception, Belfast, 7 May. http://2001-2009.state.gov/g/rls/rm/104945.ht. Accessed 10 Jan 2013.
Embassy of the United States, London, UK. (2007). Under Secretary Dobriansky hosts Northern Ireland ministers and U.S. business leaders to discuss investment in Northern Ireland. 28 June.
fDi Intelligence. (2012). Improving the quality of foreign direct investment to Northern Ireland, executive summary. Financial Times Business, July, p. 14. http://www.detini.gov.uk/attracting_fdi_executive_summary.pdf. Accessed 7 Jan 2015.
fDiIntelligence.com. (2014). European cities and regions of the future 2014/2015. February/March. https://www.berlin-partner.de/...pdf/.../2014/European-Cities-of-the-Future_2014-15.pdf. Accessed 25 Jan 2015.
Hamilton, D. (1993). Foreign direct investment and industrial development in Northern Ireland. In P. Teague (Ed.), The economy of Northern Ireland: Perspectives for structural change. London: Lawrence and Wishart.
Hart, G. (2015). Peace envoy Garry Hart: America will invest in Northern Ireland, but only if there is political and economic stability. Belfast Telegraph, 13 June.
Hennigan, M. (2015). Northern Ireland may have a 12.5% corporation tax rate from 2017. Finfacts Ireland, 9 January. www.finfacts.ie/irishfiancenews/article_1028598.shtml. Accessed 25 June 2015.
Invest Northern Ireland. (2010). Foster announces new inward investment project on US mission. 16 March. http://www.investni.com/news/foster-announces-new-inward-investment-project-on-us-mission.html. Accessed 23 Jan 2013.
Invest Northern Ireland. (2015). 2015 Key business facts about Northern Ireland. March. https://secure.investni.com/static/ni/2015-key-facts-us-april2015.pdf. Accessed 25 June 2015.
Lough Shore Investments. (2011). Team Northern Ireland is missing the point: Focus on Wall Street, not Washington. http://blog.loughshore.co/post/3876956051/team-northern-ireland-is-missing-the-point. Accessed 8 Sept 2015.
McGinty, R. (1997). American influences on the Northern Ireland peace process. The Journal of Conflict Studies, XVII(2), the CREGG Centre for the Study of War and Society, Fall 1997, 6. https://journals.lib.unb.ca/index.php/jcs/article/view/11750/12521. Accessed 12 Jan 2014.
Northern Ireland Chamber of Commerce and Industry. (2014). Big business in the Big Apple for Belfast firms. June 14. http://www.northernirelandchamber.com/member-news/big-business-in-the-big-apple-for-belfast-firms/. Accessed 7 Sept 2015.
Northern Ireland Executive. (2010). Enterprise Minister Arlene Foster will lead a 17 company-strong trade mission to the USA this month. 10 March. http://www.northernireland.gov.uk/news/news-deti/news-deti-march-2010/news-deti-100310-foster-leads-trade.htm. Accessed 12 Jan 2015.
Office of National Statistics. (2015). Who owns foreign businesses in the UK 2013. 23 July. http://www.ons.gov.uk/ons/rel/abs/annual-business-survey/ownership-in-the-uk–2013/sty-abs-bus-own.html. Accessed 23 September 2015.
Portland Trust. (2007). Economics in peace-making: Lessons from Northern Ireland, May, p. 23.
Thompson, J. E. (2001). American policy and Northern Ireland: A saga of peacebuilding. Westport: Praeger.
US Department of State. (2012). Remarks with first minister of Northern Ireland, Peter Robinson and deputy minister of Northern Ireland, Martin McGuinness. 7 December. http://www.state.gov/secretary/20092013clinton/rm/2012/12/201672.htm. Accessed 23 June 2015.
US Embassy in London. (2014). Special representative for global partnerships Andrew O’Brien to lead first U.S. Partnership Opportunity Delegation to Ireland, Northern Ireland. 24 January. http://london.usembassy.gov/ni301.html. Accessed 5 June 2015.
Vargo, T. (2000). Clinton’s legacy in US support for both NI traditions. Irish Times, 9 December. http://www.us-irelandalliance.org/content/93/en/Leadership/Opinions/Trina%20Vargo%20On%20President%20Clinton’s%20Legacy%20For%20Northern%20Ireland.html. Accessed 8 Sept 2015.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Peyronel, V. (2017). US Investment in Northern Ireland: Strategies, Incentives and Perspectives. In: Groutel, A., Pauwels, MC., Peyronel, V. (eds) Revisiting the UK and Ireland’s Transatlantic Economic Relationship with the United States in the 21st Century. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-58550-9_4
Download citation
DOI: https://doi.org/10.1057/978-1-137-58550-9_4
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-58549-3
Online ISBN: 978-1-137-58550-9
eBook Packages: Economics and FinanceEconomics and Finance (R0)