Companies

Biden’s inflation act will benefit SMEs in Ireland, says US company chief

The chief executive of Sterling Engineering says reshoring of manufacturing will create beneficial ‘ripple effect’ for small businesses in EU

Dolores Connolly, chief executive, Sterling Engineering: ‘The move to reshore capacity by multinationals is huge.’ Picture: Aengus McMahon

The reshoring of manufacturing capacity to Europe and the US by multinational companies will create a “huge ripple effect” that will massively benefit SMEs, the head of a US engineering firm has said.

Dolores Connolly, chief executive of Sterling Engineering, a Chicago-based engineering services firm, said the Inflation Reduction Act introduced by the Biden administration would reinvigorate local manufacturing supply chains in countries like Ireland and the US as multinationals built new production capacity closer ...