Irish bank’s NYC Hub available to business customers expanding into the United States.
Bank of Ireland’s NYC Hub has become a focal point of New York’s burgeoning Irish business community, from a busy events calendar to a base when establishing in the US market.
The good news is that Bank of Ireland has extended the lease for its New York office until 2033.
“We are proud to be in the US for almost 50 years now, supporting both Irish customers expanding into America and US companies looking towards Europe”
NYC Hub is available to Bank of Ireland customers looking to expand into the United States, with more than 20 businesses regularly using it currently.
Bank of Ireland has been in New York since 1976 and also has teams located in Chicago, LA and Stamford supporting economic ties between Ireland and the United States. The Bank’s FDI team has supported over 600 international companies, many of them US-based, to set up in the Irish market.
Located at 2 Grand Central Tower in Manhattan, NYC Hub is a flexible workspace with seven offices, three meeting rooms, a conference room, 20 hot desks and event space accommodating up to 120 people. The Hub hosted 3,000 people and 113 events in 2023, double the volume of the previous year.
50 years supporting Irish and American companies
“Our NYC Hub is a very practical support, providing customers with a place to work or meet clients, suppliers and investors in the heart of Manhattan”
“We are proud to be in the US for almost 50 years now, supporting both Irish customers expanding into America and US companies looking towards Europe,” said Bank of Ireland’s CEO Myles O’Grady who was in New York this week.
“Our NYC Hub is a very practical support, providing customers with a place to work or meet clients, suppliers and investors in the heart of Manhattan. And we have a similar ‘FDI Landing Space’ in Dublin, providing US companies with office and event space as they establish their presence in Europe. Extending the lease in New York for another 10 years is a sign of our commitment to helping businesses on both sides of the Atlantic Ocean with their ambitions and growth.”
NYC Hub has seven offices, three meeting rooms and a conference room that seats 12 as well as 20 hot desks that are available to use.
According to the US Bureau of Economic Analysis, Ireland’s FDI into the US stands at $235.7bn. Today, over 900 Irish companies operate across all 50 states, employing 110,000 in the US.
For St Patrick’s Week 2024 a major Enterprise Ireland trade mission is underway with 50 Irish business events planned across the US.
The biggest announcement of the week came from Ireland’s ClonBio Group, which owns and operates the world’s most advanced grain biorefinery. ClonBio is planning a $500m cumulative investment in a formerly moth-balled biorefinery it acquired in Jefferson, Wisconsin in mid-2022. It is understood that the Irish business will create 1,000 local jobs in Wisconsin.
Meath business Hanley Energy is creating 150 global jobs as it opens a new $12m US headquarters in “Data Centre Alley” Ashburn, Virginia. In 2024, Hanley Energy will create 100 jobs in the USA and 50 in Ireland, as the company continues to expand its global operations, delivering critical power and energy management innovation to global data centre operators, including Amazon Web Services and other global players.
Other major expansions to be revealed this week came from Irish firms Climeaction, Output Sports, Sportskey, Version 1, SWOOP and ID-Pal.
Bank of Ireland’s Corporate and Commercial Banking Division has a team of more than 1,100 dedicated to serving a wide range of SMEs and larger national and international corporations.
The Division provides wholesale financial markets services, specialised acquisition finance, and property lending activities across Ireland, the UK, France, Germany, Spain, and the US.
Visiting New York this week, Minister for Justice, Helen McEntee TD said: “Bank of Ireland’s NYC Hub is a crucial part of the Irish-American picture in New York City; as a commercial gateway for its customers in the Big Apple and as a platform for Irish organisations in every sector to make their mark on the city. I was delighted to hear the news that the hub’s future in the city is assured for another decade and I know it will be of enormous benefit to countless organisations for years to come.”
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Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
