US multinational chiefs say No vote will cost jobs and investment - survey

BUSINESS:MOST CHIEF executives of US multinational companies operating here believe investment and jobs will be lost if the Lisbon Treaty referendum is not carried, according to the American Chamber of Commerce in Ireland.

The chamber says it surveyed 100 chief executives of US companies operating here and found that 93 per cent believed a No vote would lead to loss of future investment and Irish jobs.

Some 91 per cent said Ireland’s membership of the EU was important to their global parent when making investment decisions. And 95 per cent said we would lose our ability to influence decision-making at EU level if we voted No.

Dr Paul Duffy, president of the American Chamber of Commerce in Ireland, said the treaty was “vital” to Ireland’s national interests and to securing jobs.

“For many of our members’ companies, a crucial part of their strategy and reason for being here is that Ireland is a part of Europe,” he said. “Not only that, but Ireland is seen to have influence and power within Europe. If there is any doubt about our commitment to Europe or our influence within the union, it could cause future investment to be lost to Ireland.”

Dr Duffy, who is also head of Pfizer, said that if the treaty was rejected, investing directly in mainland Europe would be “considerably more attractive” than investing in an island off the continent which had little influence.

“US companies have invested over €1.4 billion in Ireland and employ over 300,000 people directly and indirectly. This survey shows clearly that people at the coalface of Irish business are overwhelmingly convinced of the critical importance of a Yes vote.

“The good news is that 91 per cent believe a Yes vote will have a positive impact on their business.”