New jobs, facilities and funding are being announced today as Northern Ireland opens its doors to global investors at the Northern Ireland Investment Summit.
Around 200 investors from across the world including the US, Europe, the Middle East and Asia Pacific will attend the Summit today [Wednesday 13 September], which aims to turbocharge inward investment into Northern Ireland.
It comes as professional services firm EY announces 1,000 new jobs in Northern Ireland over the next five years, opening up new and exciting employment opportunities. Once in place, the jobs are expected to contribute at least £33 million in annual salaries to the NI economy.
Secretary of State for Business & Trade Kemi Badenoch said:
“Northern Ireland is one of the most exciting places to invest in the world, with its unique trading position and deep expertise in industries of the future.
“Today’s Summit is crucial to tapping into the huge potential that Northern Ireland has and the opportunities it holds for global investors, the people of Northern Ireland and the wider world.”
Hosted by the Department for Business and Trade, the Northern Ireland Office and Invest Northern Ireland alongside local partners and Citi, today’s Summit will encourage new investment into Northern Ireland by showcasing companies and opportunities in its renowned sectors of expertise.
Industry-led sessions throughout the day will focus on advanced manufacturing and engineering, technology, financial and professional services, the green economy, and the life and health sciences sector.
The Summit is part of efforts to support the Prime Minister’s commitment to grow the economy, turn the UK into a tech and science superpower, and make us the best place in Europe to invest. The UK is already the top destination on the continent for greenfield foreign direct investment (FDI), we have the third highest FDI stock in the world, and the UK is only the third country in the world to have a $1 trillion tech sector.
Secretary of State for Northern Ireland Chris Heaton-Harris said:
"Hundreds of investors from around the globe will today experience first-hand the expertise, innovation and unique opportunities that Northern Ireland has to offer.
"The productive, global relationships built in this room today will benefit Northern Ireland businesses and communities for years to come.
I’m proud that Northern Ireland’s rich potential is being boosted by UK Government funding. This Summit is a fitting celebration of Northern Ireland’s bright future during the 25th anniversary year of the Belfast (Good Friday) Agreement."
This week a project led by Belfast-based maritime technologies firm Artemis Technologies Ltd has been awarded £15.5m to develop electric passenger vessel services in Orkney as part of the Zero Emission Vessels and Infrastructure (ZEVI) scheme, designed to support the design and development of near-commercial clean maritime solutions.
And today, Northern Ireland-based Catagen, Terex and Wrightbus have been awarded a share of nearly £26m from the Department for Energy Security and Net Zero’s Red Diesel Replacement (RDR) competition. The three-firm consortium has been awarded more than £6 million in grant funding to test e-diesel and hydrogen dispensing technologies in quarrying.
Mel Chittock, Interim CEO of Invest NI said:
"Today’s Summit is an opportunity to showcase our success stories and create a space for investors to learn why Northern Ireland is one of the most attractive places in the world for businesses to invest and grow. Over 70% of new investors choose to reinvest here, so it’s not surprising that EY has chosen Northern Ireland once again, against other competitive locations globally for such a significant investment.
"EY’s investment will contribute to a more regionally balanced economy by establishing a regional hub outside Belfast and there is a clear commitment by EY to positively provide opportunities for the economically inactive. We are taking the opportunity at today’s Summit to build on investments like this and show to around 200 global investors why we are one of the most attractive business environments in Western Europe. With unique access to both the UK and EU markets combined with our skills and talent we offer an exceptional place to invest and to do business."
Hywel Ball, EY UK Chair and UK and Ireland Managing Partner said:
"EY is very proud to announce the creation of 1,000 new Jobs in EY Northern Ireland over the next five years. We have built an incredible business here over many years proudly providing a world class service to our clients locally, across the United Kingdom and across our global network.
"Today’s jobs announcement is a reflection of our commitment to accelerate the growth of our Northern Ireland practice in a way that will bolster the regional economy and, we hope, spotlight Northern Ireland as a hub for business and future international investment.
"The support from Invest Northern Ireland and the Department for the Economy played a key role in our decision to choose Northern Ireland as the location for this significant investment as did the access we have here to an incredible talent pool as well as the potential and ambition of our Northern Ireland practice."
Speakers at the event include Business and Trade Secretary Kemi Badenoch, Secretary of State for Northern Ireland Chris Heaton-Harris, Housing and Levelling Up Secretary Michael Gove alongside a range of industry experts including David Livingstone, Chief Executive Officer for Europe, Middle East, and Africa at Citi.
19 showcase companies from across Northern Ireland will also exhibit to global investors, including Derry/Londonderry-based Respiratory Analytics, Collins Aerospace in Kilkeel, and Ballymena-based Wrightbus.