Foster announces £7million investment in Strabane land development
Enterprise Minister Arlene Foster today announced a £7million investment by Invest Northern Ireland in the acquisition and development of industrial land in Strabane.
Part of Invest NI’s land acquisition strategy, the investment will make 22 acres of land at Melmount Road available to support economic development in the area.
Making the announcement, the Minister said: “Providing an adequate supply of industrial land across Northern Ireland is an important factor in securing investment and employment opportunities.
“Strabane was one of a number of priority areas identified by Invest Northern Ireland where industrial land was needed to support and encourage investment. Despite budget pressures and competing priorities, this development was viewed of critical importance and sufficient budget was secured by my department to ensure it could progress as planned.
“As part of the overall £7 million project, Invest Northern Ireland will develop the site to install utilities and roads infrastructure. Detailed design and procurement are currently being finalised and the first phase of development will begin later this year, bringing with it welcome benefits for local construction companies during a challenging time for the sector.
“By the summer of 2013, serviced sites will be available for sale to qualifying companies who can develop them further to meet their individual needs. I am confident that this development will become an attractive location from which local companies and inward investors can do business.”