Invest NI Support Delivers £64 Million of Investment by Businesses in Londonderry and Strabane
Invest Northern Ireland support to over 357 businesses in Derry City and Strabane District Council area during 2014/15 has secured £64 million of investment in the local economy.
This investment by businesses will also lead to the creation of 658 new jobs, including the largest new jobs related inward investor project to be secured by Invest NI in the last four years.
Commenting on the results, Des Gartland, Invest NI’s North West Regional Manager said: “To help secure this investment, Invest NI offered over £13 million of support to businesses in the area, helping them to bring forward their growth plans. The 60 per cent increase we’ve seen in investment on last year reflects a growing confidence and commitment to growth within the business community.
“These figures show the extent of our commitment to the area and the resulting benefits for businesses such as McColgan Quality Foods, Fleming Agri, O’Neill’s Irish International Sports Company and Hunter Apparel which recently announced their plans to expand in the region.
“Invest NI has also supported new inward investment for the region, such as Convergys, which last year announced that it will create 333 jobs at its new Londonderry centre. This investment by Convergys was the largest new inward investment jobs project we secured for Northern Ireland during the 2011-15 Corporate Plan period.
“As well as helping secure 658 new jobs as part of future projects, 803 new jobs were actually created in Londonderry and Strabane during 2014/15, as a result of our support.
“We also announced a £35 million R&D project by Seagate Technology (Ireland), which unpins the company’s confidence in its high quality staff and their ability to deliver the highest quality services. This project was the largest research and development investment supported by Invest NI in 2014/15.
”As well as this strong in-year performance, across the four years of this Programme for Government, Invest NI support helped leverage £173 million of investment in the local economy and supported projects which will create 2,799 new jobs.”