Irish companies employ over 55,000 people in the US, a Government minister revealed today.
The Minister for Social Affairs Seamus Brennan said firms based in Ireland have increased their presence in America fivefold in the last seven years.
Mr Brennan told an event in Boston that the growth was a direct result of the ongoing deepening economic links between the two countries.
He said a very significant element in Ireland achieving its current economic success has been the presence in the state of more than 1,000 multinational companies, more than 600 of which are from the US.
"These US companies directly employ over 90,000 people, or 70 per cent of the total numbers employed by multinationals in Ireland," he said.
"Most people are aware in one way or another of the size and importance of US investment in Ireland.
"On the other hand, I doubt if that many are aware of the exciting and dramatic changes that are taking place in Irish investment in the US."
In an address to the Irish Association at Massachusetts Institute of Technology focusing on Ireland's Knowledge Economy, Minister Brennan said that while overall economic performance remains strong, Ireland now faces an unprecedented challenge to grow the high-paid jobs and knowledge-intensive investment needed to sustain our performance into the future.
"The Government is fully committed to the importance of the knowledge and research agenda and has displayed that commitment by providing for substantial investment in this area under the National Development Plan," he added.