Leaders from the UK and Ireland met in Cork for the second UK-Ireland Summit, where Prime Minister Sir Keir Starmer announced £937 million in new Irish investment across the United Kingdom, expected to create around 850 jobs. The funding comes from 15 Irish companies working in sectors including artificial intelligence, renewable energy, telecommunications, and corporate services. Projects are planned in London, Doncaster, South Wales, Scotland, and Northern Ireland.
Speaking ahead of the summit, Starmer said closer economic collaboration was vital amid global uncertainty and rising living costs. “As people on both sides of the Irish Sea feel the cost-of-living squeeze, we are investing in partnerships that make us better off and more secure,” he said. He added that the UK’s relationship with Ireland continues to strengthen across cultural, commercial, and security areas.
The investment aligns with the UK government’s Modern Industrial Strategy, which aims to attract high-value international investment and drive growth in productivity and sustainability. Enterprise Ireland, the Irish government’s trade and innovation agency, played a key role, noting that the UK remains Ireland’s most important export market. Data from the agency shows nearly two-thirds of Irish companies already have a presence in the UK, with most planning to expand investment over the next year.
Ahead of the summit, a business roundtable in Cork brought together senior figures from UK and Irish companies in energy, infrastructure, and technology. Robert Adams, president of FOCUS Capital Partners, highlighted London’s appeal for international investors, while Kieran Linehan, managing director of Ayrton Group, said the UK’s scale, cultural ties, and shared language make it a strategic expansion destination.
Energy security was a central focus of the summit. Officials welcomed progress on two major interconnectors linking the UK and Ireland. One project will connect Wales and Ireland, supplying electricity to around 570,000 homes, backed by at least £740 million in private investment. A second interconnector between Northern Ireland and the Republic of Ireland is expected to reduce electricity costs and improve energy resilience.
The summit also addressed critical infrastructure protection. Both governments agreed to increase cooperation on subsea fibre optic cables, vital for digital communications and economic activity. Joint exercises will test responses to potential disruptions, while a refreshed defence memorandum of understanding strengthens collaboration on maritime security, cyber threats, and defence procurement.
Several companies outlined specific UK expansion plans. Version 1 will create 400 new roles in Northern Ireland in AI, engineering, and digital transformation. Amach plans a £45 million investment for 150 high-skilled jobs across the UK, while Step Telecoms will deploy £25 million for a new 200-kilometre fibre optic cable in Wales. Irish venture firm Elkstone is launching a €200 million fund with 20% earmarked for Northern Irish startups. Property and infrastructure investments include O’Flynn Group’s £35 million student accommodation development in Manchester and Gas Networks Ireland’s £170 million plan to decarbonise compressor stations in Scotland.
Starmer said the investments reflect tangible benefits for businesses and workers on both sides of the Irish Sea. “The action this government has taken to reset relationships and deepen partnerships with our closest allies is paying off,” he said. “It will help us withstand global challenges and protect money in the pockets of families up and down the country.”
