Irish Investment in the United States Reaches Historic Levels

Ireland Surges to 5th Largest Source of FDI into the United States as Enterprise Ireland Launches Global St. Patrick’s Day Business Programme

• Investment from Ireland in the U.S. reaches historic record of $389 billion. In 2024 alone, Ireland was the largest source of new investment expenditures in the U.S. accounting for $30.1 billion.
• Top 10 Irish investors employ over 125,000 people in the U.S. and support hundreds of thousands of indirect jobs.
• Over $6bn in capital investment commitments from Smurfit Westrock, Kingspan, and Glanbia in the U.S. signal a robust U.S. growth outlook through 2030.
• Applegreen, the largest highway service operator in the U.S., with €1bn+ invested since 2014, is deploying $70m in Colorado to open the first of four new service areas this year, creating 400 jobs and expanding its 110-site national network and 7,000 U.S. employees.
• Tines, the Irish-founded intelligent workflow leader will create 100 new U.S. jobs in Boston over the next 12 months, a 42% increase of its American headcount of 237 employees in the U.S.

Enterprise Ireland, the government of Ireland’s trade and innovation agency, today announced that Irish investment in the United States has reached historic levels, with Ireland rapidly ascending to become the 5th largest source of Foreign Direct Investment (FDI) into the U.S.

Marking the launch of the Agency’s 2026 St. Patrick’s Day global business programme, the strength of the Irish-U.S. economic bond is clear: cumulative investment from Ireland in the U.S. has hit a record $389 billion by the end of 2024, according to the U.S. Bureau of Economic Analysis.  In 2024 alone, Ireland was the largest source of new investment expenditures in the U.S. accounting for $30.1 billion. This investment reinforces Ireland’s status as the number one investor in the U.S. on a per capita basis, serving as a cornerstone of a robust and resilient two-way economic partnership with the U.S.

The top 10 Irish investors in the U.S. employ more than 125,000 people in the U.S. Within the manufacturing sector in the U.S., Ireland accounted for the largest number of employees by country in 2024, with 43,100 manufacturing jobs in the U.S. attributed to Ireland. 

Launching Enterprise Ireland’s St. Patrick’s Day global business programme, Taoiseach Micheál Martin said: "Irish investment in the United States has reached historic levels, reflecting a partnership that is more than just a series of trade figures – it is a deeply embedded, two-way relationship that provides immense benefit to both the Irish and American economies. Irish companies are not mere exporters; they are resilient partners, revitalising regional heartlands of America and a driver of the next wave of industrial and technology innovation.

“This long-term commitment is exemplified by world-leading Irish firms like Smurfit Westrock, with its plan to invest $1 billion per annum in the U.S. over the next five years, and CRH, the largest building materials business in North America. With a footprint spanning 48 U.S. states and a workforce of 50,000 employees across North America, CRH’s recent $2.1 billion acquisition of Eco Material Technologies and its continued investment to support America’s reindustrialisation underscore a profound confidence in the American market. By prioritising investment and high-quality job creation, we ensure that the Irish-U.S. economic partnership continues to serve as a primary engine for growth for both nations.”

Jenny Melia, CEO of Enterprise Ireland, added: "Enterprise Ireland is proud to drive Irish investment across the U.S., with the top ten Irish investors employing over 125,000 people across the country. Our mission is to support Irish companies as they bring transformative technologies to the U.S. market, innovations that are driving real operational efficiencies for Corporate America. Today's milestones are a powerful illustration of that ambition. Applegreen is building on more than €1 billion invested in the U.S. since 2014 with a further $70 million investment and 400 new jobs in Colorado. Tines is creating 100 new high-value jobs in Boston as it scales its enterprise automation platform. And Fexco is making a multi-million-euro investment in payUnite, its next-generation payments orchestration platform, with an expanded U.S. rollout. These announcements represent a new generation of Irish enterprise: agile, innovative, and deeply committed to delivering a competitive edge for their U.S. partners."

A Robust Outlook for 2026–2030

Leading Irish firms have signalled a robust and prioritised outlook for the U.S. market, viewing it as their primary engine for global growth. Major capital commitments announced today include:

• Smurfit Westrock: Committing to $1bn per annum in U.S. capital investment over the next five years. Smurfit Westrock is the world’s largest listed packaging company, employing 32,000 in the USA across 300 locations.  
• Kingspan: Forecasting $1bn in capital spend over five years, focusing on rural manufacturing and brownfield site renovation. Kingspan is a global leader in insulation and building solutions and employs 2,700 people across 32 sites in 17 states.
• Glanbia: Deploying a significant portion of its $100m–$110m 2026 capital expenditure into U.S. capacity expansion, notably in New Mexico and Ohio. Glanbia, a global nutrition leader has a workforce of almost 4,000 U.S. employees, operating over 20 production facilities and several innovation centers across the U.S.
• Kerry Group: Deploying over $5bn in cumulative U.S. investment to date, including a new $45m facility in Pennsylvania opening in September 2026. A global leader in taste and nutrition, Kerry Group has a workforce of 5,000 U.S. employees, operating from 63 locations (including 41 manufacturing sites) across 19 states. Kerry Group spends over $1.5bn annually on U.S. raw materials and partners with major U.S. food firms.
• Applegreen: The largest highway service area operator in the U.S., with over €1 billion invested since 2014 and a workforce of 7,000 U.S. employees. Operating 110+ service areas across the U.S., the group recently completed a landmark redevelopment of 27 sites on the New York State Thruway. Applegreen is now deploying a $70 million investment in Colorado to build four new service areas along the E-470 highway, creating 400 jobs and introducing essential fuel, EV charging, and world-class retail brands to the Denver metropolitan area.
• CRH: CRH, the largest building materials business in North America and the largest road paver in the United States, with a footprint spanning 48 U.S. states and a workforce of 50,000 employees across North America, is continuing to invest in expanding its capability to support America's reindustrialisation, including major investments in high-growth regions in the South and West of the U.S. This commitment is underpinned by CRH’s recent $2.1 billion acquisition of Eco Material Technologies, North America’s leading supplier of Supplementary Cementitious Materials, and the opening of a new finance hub in Georgia, set to employ over 300 people.

Enhancing American Competitiveness

Irish companies serve as vital catalysts for American efficiency. By partnering with Corporate America to deliver transformative technologies, Irish firms provide U.S. businesses with a distinct global edge:

• Tines: Tines, the Irish founded intelligent workflow leader and “unicorn” valued at $1.1 billion, will create 100 new U.S. jobs over the next 12 months, a 42% increase in its American headcount of 237 employees in the U.S. Co-headquartered in Boston and Dublin, Tines powers the most important workflows for major enterprises like Canva, Coinbase, Databricks, Reddit and Mars, to operate more effectively, mitigate risk and reduce tech debt.
• Fexco: Fexco, a global leader in financial services and financial technology, has announced a multi-million Euro investment in payUnite, its next-generation payments orchestration platform. payUnite, which already processes more than $20 billion annually and serves over 40% of the global cruise market, is now expanding into the broader U.S. hospitality, airline, and retail sectors. Fexco is also investing in agentic commerce capabilities to deliver the next generation of digital payments products.
• Workhuman: Co-headquartered in Massachusetts, its cloud-based platform engages 7 million employees globally, helping U.S. Fortune 500 clients enhance retention and culture.
• Midland Steel: Its modular technology, deployed via a partnership with Nucor, the largest steel producer in the U.S. reduces onsite build times by 75%.

Enterprise Ireland: Accelerating Investment

In 2024 and 2025, Enterprise Ireland supported nearly 100 client companies in establishing new presences in the U.S. While New York remains the primary anchor hub for Fintech and AI, 43% of new entries are concentrated in innovation hubs including Austin, San Francisco, and Seattle. U.S. demand for Irish innovation reached new heights in 2024, with Enterprise Ireland client exports growing by 8% to reach €6.66 billion.

Enterprise Ireland’s Global Business Events Programme for St. Patrick’s Day 

This St. Patrick's Day, Enterprise Ireland will bring Irish innovation to the world, hosting over 70 events across 32 cities globally, with 34 events in the U.S. alone, connecting Irish companies with global customers, partners, and investors.

Ends.

Notes to Editor: 

Sources for FDI figures: 

U.S. Department of Commerce Foreign Direct Investments (FDI): Ireland

U.S. Bureau of Economic Analysis (BEA) New Foreign Direct Investment in the United States, 2024 | U.S. Bureau of Economic Analysis (BEA)
 

Additional Information on Companies Referenced in the Press Release 

CRH 

CRH is the largest building materials business in North America and the largest road paver in the United States. With a massive footprint spanning 48 U.S. states and a workforce of 50,000 employees across North America, the company is continuing to invest in expanding its capability to support America's reindustrialization, including major investments in high-growth regions in the South and West of the U.S. Last year the company spent $2.1 billion acquiring Utah headquartered Eco Material Technologies, North America’s leading supplier of Supplementary Cementitious Materials (SCMs) and opened a new finance and accounting hub in Georgia which will employ over 300 people. By supporting the modernisation of critical infrastructure including transportation and water networks, CRH is helping to strengthen the U.S. supply chain and fostering long-term economic development and high-quality employment opportunities in the communities it serves.
 

Smurfit Westrock plc 

Smurfit Westrock plc—formed from the 2024 merger of Smurfit Kappa and WestRock—has rapidly become the world’s largest listed packaging company, employing approximately 97,000 people across 40 countries. At its Medium-term investor update the plc reported $31.2Bn in net sales in 2025. Deeply integrated into the American supply chain, Smurfit Westrock, employs close to 50,000 people in North America, including 32,000 in the USA across 300 locations, Smurfit Westrock is committed to expansion in the USA with an average capital investment of over $1bn p/a planned in the U.S. over the next five years.  Smurfit Westrock recently invested in its largest corrugated manufacturing facility in the USA in Pleasant Prairie, Wisconsin, close to Chicago.

Glanbia 

Glanbia, a global nutrition leader and owner of Optimum Nutrition, the world’s #1 sports nutrition brand, is expanding its manufacturing and distribution footprint in the United States. With a workforce of almost 4,000 U.S. employees, the company operates over 20 production facilities and several innovation centers across the country, including key hubs in Chicago, Idaho, Michigan, and California. Glanbia generates over 70% of its $3.9 billion revenue in the U.S. market, a presence further bolstered by its $300 million acquisition of Flavor Producers in 2024, the company’s largest-ever ingredients acquisition. 

In 2026, Glanbia will be deploying a significant portion of its $100 million - $110 million capital expenditure into capacity expansion in the U.S., driving innovation and high-quality job creation across its American manufacturing network. Glanbia recently approved capital expenditure to add capacity at its dairy Joint Venture in New Mexico and its flavour facility in Sharonville, Ohio.

Kerry Group 

Kerry Group: A global leader in taste and nutrition, has made cumulative investments of over $5bn+ in the USA to date. Kerry Group operates from 63 locations (including 41 manufacturing sites) across nineteen states, including Wisconsin, Georgia, Minnesota, New Jersey and Illinois. Kerry employs 5,000 people in the US, spends over $1.5bn yearly on U.S. raw materials, and partners with major U.S. food firms.  

In September 2026, Kerry will officially open a new facility in Bethlehem, Pennsylvania, specialising in the production of natural coffee flavour extracts, to supply the growing market and consumer demand for coffee flavoured food and beverages. The facility represents a c.$45m investment and will employ over 60 people.
 

Kingspan 

Kingspan: a global leader in insulation and building solutions is investing in manufacturing capacity in the United States. It currently employs 2,700 across 32 sites in 17 states, expanding sites in Virginia, Arkansas, Oklahoma, Maryland, Texas and Illinois in 2025, with further expansions in Kentucky and Virginia in 2026. 
Kingspan expansion in the US has focused on the renovation of vacant brownfield sites with a focus on the creation of high-quality, blue-collar jobs in rural locations. 
Kingspan’s US subsidiary Tate announced $62.1 m investment in facility in Kentucky and creation of 400 manufacturing jobs –largest jobs announcement for Burren County Kentucky in 18 years. 
 

Applegreen 

As the largest highway service area operator in the United States, Applegreen has invested over €1 billion in the U.S. market since 2014. Employing 7,000 people in the U.S., the company recently completed a landmark four-year redevelopment of 27 service areas across the 570-mile New York State Thruway. Building on this momentum, Applegreen is currently deploying a $70 million investment in Colorado to open four new service areas along Denver’s E-470 highway, a project set to create 400 jobs and introduce essential fuel, EV charging, and global food brands to the region.
 

Fexco 

Fexco serves some of the world’s biggest brands across multiple industries in Payments and FX, through a wide range of innovative products and services including Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), International Payments, Retail FX, and payUnite; in Business Services through bespoke Managed and Advisory Services, Property Services management and Aviation Services; and in Ventures, developing products and services for Fexco’s core businesses and new ventures.  Founded in 1981, and recognised as one of the world’s original and most established fintech players, Fexco now employs over 3,600 people across its suite of companies headquartered in Killorglin, Co. Kerry located in the South West of Ireland.  Fexco is been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. 
 

Tines

Tines, the Irish-founded intelligent workflow leader and "unicorn"—valued at $1.1 billion—operates a dual-headquarters model between Dublin and Boston. Following a €120.7 million Series C funding round in early 2025 led by Goldman Sachs Alternatives, Tines is scaling its American operations. The company plans to create 100 new U.S. jobs over the next 12 months, representing a 42% increase in its stateside headcount. Tines powers the most important workflows for major enterprises like Canva, Coinbase, Databricks, Reddit and Mars, to operate more effectively, mitigate risk and reduce tech debt. 

Midland Steel

A specialist in advanced structural steel and reinforcement solutions, Midland Steel signed an exclusive 2025 agreement with Nucor Corporation—the largest steel producer in the U.S.—to deploy its patented FasterFix™ modular technology across North America through 2029. This strategic partnership introduces modern methods of construction (MMC) to the U.S. market, utilising BIM-led 3D modelling and automated offsite assembly to reduce onsite build times by up to 75% and labour requirements by 80%. Focused on large-scale infrastructure and data centers, the collaboration integrates with Nucor’s recycling network to deliver a sustainable, circular supply chain that significantly enhances worker safety and eliminates onsite waste

Workhuman

Leading employee recognition and rewards platform co-headquartered in Framingham, Massachusetts, where it drives innovation and client service across North America. Workhuman serves organizations from all sizes - from Fortune 500 companies to fast-growing mid-market business - across more than 180 countries. With over 25 years of category leadership, Workhuman supports more than 7 million employees worldwide through its cloud-based solutions that foster human-centered workplaces. The company employs approximately 1,000 people globally, including 500 people in the U.S. and generates annual revenues exceeding $1 billion, powering recognition programmes for prominent U.S. clients including Pfizer, Cisco, Citizens, and Intuit to enhance engagement, retention, and culture.

 

For further information, please contact: 

Marika MacCarvill 

Senior Communications Manager – Ireland & International 

marika.maccarvill@enterprise-ireland.com/ 00 353 86 171 2568