The former head of Shannon Development claims large scale investment is needed in sectors that aren’t currently served by Foreign Direct Investment in the wake of Donald Trump’s re-election to the White House.
The President-elect is pledging to usher in a “Golden Age” for America through bringing jobs back to the country and cutting tax rates for companies supplying the home market.
In light of this, Public Expenditure Minister Paschal Donoghue has warned Trump’s presidency is a serious development for the economy as currently the United States provides over $491 billion of FDI to this country, while 220,000 people here are either directly or indirectly by US companies.
Former Shannon Development CEO and Thompstone Group founder, Kevin Thompstone, has identified offshore wind as a potential replacement sector for FDI in Clare and nationwide.
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