Northern Ireland’s unique offering of a reduced tax rate, skilled workforce and lower location costs is a lucrative combination for potential US investors, Enterprise Minister Jonathan Bell has said.
Speaking after a series of meetings and engagements in San Francisco and New York, Jonathan Bell added that he would leave no stone unturned to ensure Northern Ireland was first on the list when it came to potential investment locations.
Jonathan Bell said: “As part of the Northern Ireland Executive’s ‘A Fresh Start. The Stormont House Agreement and Implementation Plan’, we now have an important new addition to our offering in the shape of a reduced Corporation tax rate of 12.5% from April 2018. This means we are now able to offer the best combination of tax, talent and value as a place to do business.
“This week I have met with a number of potential investors, who have rightly been impressed by Northern Ireland’s unique proposition. Ultimately, Corporation Tax has the potential to create more than 30,000 additional jobs over the next 15 years, and the work to ensure some of these benefits come on stream along with the new rate in 2018 starts now.
“Through a combination of overseas visit programmes, events and meetings I and my colleagues within the Northern Ireland Executive, and in Invest Northern Ireland, will do everything we can to ensure the message is delivered on the international stage.”
The Minister was in New York and San Francisco this week, where he joined companies on an Invest NI Tech Mission.
Jonathan Bell added: “As well as our plans to continue to grow the tech sector through support for indigenous technology companies, we are also successfully competing for, and attracting, international technology brands.
“We now have a high concentration of US software investors locating in Northern Ireland, from sectors including Capital Markets, Payments and Cyber Security. We have recently successfully attracted a number of leading Cyber Security investors including Proofpoint, Whitehat, Alert Logic and Rapid 7.
“It is investments like these that have helped Northern Ireland to become one of the fastest growing knowledge economies in the UK and one of Europe’s leading technology hubs; and for Belfast to maintain its position as No.1 in Europe for new software development projects.
“Our growing reputation, together with our new ‘triple whammy’ offering of tax, talent and value, makes Northern Ireland an even more attractive investment location.”