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Overview:
Hi-tech expertise, industrial ingenuity and a great lifestyle, make Northern
Ireland an attractive inward investment location. Its economy has been
transformed in recent decades, moving from a traditional manufacturing base to a
service-led, outward looking knowledge economy, with annual economic growth
above the UK average. A flourishing services sector reflects the growth of a
knowledge-led economy, while manufacturing output remains stable despite falling
employment in the sector.
There are now over 700 foreign-owned companies employing some 70,000 people in
the province. A testament to the success of their investments is continued
reinvestment by nearly three-quarters of these companies. A young well-educated
workforce is among the attractions. The two world-class universities of Queen’s
University, Belfast and the University of Ulster provide a steady stream of
fresh talent for knowledge-based companies seeking a strong workforce; yet
salary costs are up to 30 per cent lower than other similar European locations.
“Northern Ireland offers us
an outstanding location …, particularly because of the region’s high-quality
skills, recognised excellence for academic and industry-focused research, and a
compatible business and legal environment supporting the protection of
intellectual property.”
Mark Edwards, CEO, Mformation
Key sectors: software,
ICT, network and internet technologies, wireless technologies,
telecommunications, electronics, chip design, multimedia design; customer
contact and shared service centres, financial services, e-commerce; life, health
and environmental sciences; aerospace, defence, light engineering,
manufacturing.
R&D strengths:
software, electronics, computer chips, communications and information
technology, internet, e-commerce; life sciences, health, environmental sciences,
biomedical sciences, medicine; engineering.
Major investors include:
3PAR, AVX, Abbey, Accenture, Acer Inc, Aepona, Allen Systems Group, Allstate
Corporation, Almac Sciences, Amphion, Asidua, Audio Processing Technology (APT),
AXA Insurance, BT, Bank of Ireland, Bell Labs, BioKinetic Europe, Bombardier
Aerospace, Borland Software Corporation, BroadSoft, Canyon Europe Ltd,
Caterpillar, Citi Markets and Banking, Citigroup, Coca-Cola Bottlers, Conexant,
Copeland, Daewoo Electronics, Danske Digital Theatre Systems, DuPont, Fintec
Crushing and Screening Ltd, Firstsource, Flextronics, Fujitsu Services, Fusion
Antibodies, Galen Holdings plc, Gambro BCT, gem, Goodrich, HBoS, HCL
Technologies BPO Services, HML, HP, Halifax plc, Hathaway Systems, Homeloan
Management Ltd, IceMOS Technology, ICICI OneSource, Imagine Communications
Group, Intelliden, Kiel Pharma, Liberty Mutual Group, MDS Pharma Services,
Intel, Meridian Medical Technologies, Meridio, mFormation, Michelin, Microsoft,
Mobile Cohesion, Multimedia Infotech, NACCO, National Australia Bank, Norbrook
Laboratories, Nortel Networks, Northbrook Technology, Openwave Systems, Oracle
Corporation, Panasonic, Parthus, Perfecseal, Polaris Software Lab, Prudential,
Quinn Direct Insurance, Randox Laboratories, Raytheon Systems, Regus, Rimedia,
SAP Research Engineering Centre, Schlumberger, Seagate Technology, Short
Brothers plc, Skillsoft, Stream International, Swan Labs Inc, TDK, Tech Mahindra,
TeleTech, Teleperformance, Toshiba, Tyco Healthcare, Visteon, Warner Chilcott,
FG Wilson Engineering Ltd, Xilinx, Wombat.
Grants: Northern
Ireland is a special case. If you locate there, you will be eligible to apply
for a set of grants and incentives not available anywhere else in the UK. Some
are provided by Invest Northern Ireland and cover programmes such as Invest in
Growth - Selective Financial Support, which provides support for capability
building development projects where private sector finance is not forthcoming.
Other schemes include Smart which can provide up to £150,000 for projects that
improve competitiveness by developing new products and processes.
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