Menu
17/06/2003
Invest NI reveals £600m commitment in past year
During 2002/3, Invest NI gained commitments from client companies, universities and other economic bodies to spend over £600m across a range of activities.
Invest NI contributed towards these investments by offering £138m in finance, advice and other support programmes.
The investments include 258 development projects by existing Invest NI client companies totalling £400m – one of the highest investment commitments in recent years. Ten new inward investment projects offering £22m were also secured during the year.
Professor Fabian Monds, Invest NI Chairman, and Leslie Morrison, Chief Executive, announced the figures in Invest NI’s End of Year Statement for the 12 months to March 2003 and launched the operating plan for the year ahead.
The highlights of the year for Invest NI were:
Invest NI claimed that targets set for encouraging existing exporters to enter new markets and in securing participation in trade missions had been “substantially exceeded”. In all during the year around 1,400 companies had taken part in trade events, including 93 first-time exporters and 194 exploring new markets.
Turning to business improvement Invest NI doubled the targeted participation by companies in business improvement schemes that resulted in a £3.1m increase in profits and £3.7m in new business won by firms.
Invest NI said that it had assisted 2,141 new business start-ups - well ahead of a target of 1,500 - and these included 101 new high-growth businesses with a total investment of £21.3m.
The agency had also extended its regional reach by opening new offices in Coleraine, Craigavon and Enniskillen.
The year also saw a review of strategies for sectors such as aerospace, software, biotech and health technologies, electronics, clothing and textiles, fish processing, furniture, multimedia, agricultural engineering and vehicle engineering.
Commenting on the performance Prof. Monds said Invest NI’s overall impact on the local economy has been “very considerable”.
NIO Minister for Enterprise, Trade and Investment, Ian Pearson, said he was “confident that by working with local industry, Invest NI will be able to meet current and future economic challenges”.
(SP)
Invest NI contributed towards these investments by offering £138m in finance, advice and other support programmes.
The investments include 258 development projects by existing Invest NI client companies totalling £400m – one of the highest investment commitments in recent years. Ten new inward investment projects offering £22m were also secured during the year.
Professor Fabian Monds, Invest NI Chairman, and Leslie Morrison, Chief Executive, announced the figures in Invest NI’s End of Year Statement for the 12 months to March 2003 and launched the operating plan for the year ahead.
The highlights of the year for Invest NI were:
- Providing assistance of £62m to 258 development projects;
- Securing 10 inward investment projects worth £22 m; 80% in social needs areas;
- Agreeing 316 R&D projects totalling £38m in private sector investment.
Invest NI claimed that targets set for encouraging existing exporters to enter new markets and in securing participation in trade missions had been “substantially exceeded”. In all during the year around 1,400 companies had taken part in trade events, including 93 first-time exporters and 194 exploring new markets.
Turning to business improvement Invest NI doubled the targeted participation by companies in business improvement schemes that resulted in a £3.1m increase in profits and £3.7m in new business won by firms.
Invest NI said that it had assisted 2,141 new business start-ups - well ahead of a target of 1,500 - and these included 101 new high-growth businesses with a total investment of £21.3m.
The agency had also extended its regional reach by opening new offices in Coleraine, Craigavon and Enniskillen.
The year also saw a review of strategies for sectors such as aerospace, software, biotech and health technologies, electronics, clothing and textiles, fish processing, furniture, multimedia, agricultural engineering and vehicle engineering.
Commenting on the performance Prof. Monds said Invest NI’s overall impact on the local economy has been “very considerable”.
NIO Minister for Enterprise, Trade and Investment, Ian Pearson, said he was “confident that by working with local industry, Invest NI will be able to meet current and future economic challenges”.
(SP)
Related Northern Ireland News Stories
Click here for the latest headlines.
18 January 2016
Carryduff Beauty Business To Create Ten New Jobs
A Carryduff-based beauty business, He-Shi Enterprises Ltd, is to create ten new jobs. Enterprise, Trade and Investment Minister Jonathan Bell welcomed the news.
Carryduff Beauty Business To Create Ten New Jobs
A Carryduff-based beauty business, He-Shi Enterprises Ltd, is to create ten new jobs. Enterprise, Trade and Investment Minister Jonathan Bell welcomed the news.
20 May 2005
Invest NI reveal best ever results
End of year results announced by Invest NI have shown the government agency has helped companies in Northern Ireland invest almost £0.5 billion to “set up, develop, innovate and become more international”.
Invest NI reveal best ever results
End of year results announced by Invest NI have shown the government agency has helped companies in Northern Ireland invest almost £0.5 billion to “set up, develop, innovate and become more international”.
10 June 2021
HGS To Create 565 New Jobs Across NI
Almost 600 new jobs are to be created across Northern Ireland by Hinduja Global Solutions (HGS), Economy Minister Diane Dodds has announced. HGS, a global provider in business process management (BPM) and customer experience management, is set to create a total of 565 jobs across the province.
HGS To Create 565 New Jobs Across NI
Almost 600 new jobs are to be created across Northern Ireland by Hinduja Global Solutions (HGS), Economy Minister Diane Dodds has announced. HGS, a global provider in business process management (BPM) and customer experience management, is set to create a total of 565 jobs across the province.
30 August 2016
Lisburn Firm To Create 14 New Jobs
P2V Systems in Lisburn is to create 14 new jobs following support from Invest Northern Ireland. The firm, which provides IT services to public and private sector businesses, plans to double its workforce by 2018.
Lisburn Firm To Create 14 New Jobs
P2V Systems in Lisburn is to create 14 new jobs following support from Invest Northern Ireland. The firm, which provides IT services to public and private sector businesses, plans to double its workforce by 2018.
05 March 2007
Enterprise Minister welcomes 150 new jobs in Derry
Enterprise Minister, Maria Eagle, today welcomed Axa Insurance’s announcement to establish a major customer contact centre in Derry, creating 150 new jobs. The £15m investment, to be located at Northlands Road, will service Axa’s business throughout the island of Ireland.
Enterprise Minister welcomes 150 new jobs in Derry
Enterprise Minister, Maria Eagle, today welcomed Axa Insurance’s announcement to establish a major customer contact centre in Derry, creating 150 new jobs. The £15m investment, to be located at Northlands Road, will service Axa’s business throughout the island of Ireland.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
