AMANDA FERGUSON in Belfast
Wednesday, September 13, 2023
Hello all. The following is a statement from the UK government Department of Business and Trade. A social media thread from me will be placed at the bottom of this post and you can follow all the updates from the day there. Amanda
NEW FROM DBT: NEW JOBS, FACILITIES AND FUNDING ANNOUNCED AHEAD OF NORTHERN IRELAND INVESTMENT SUMMIT
200 international delegates head to Belfast to meet some of the most innovative companies in Northern Ireland. It comes as EY announces 1,000 new jobs in Northern Ireland over the next five years, including a new regional hub. Local firms Catagen, Terex, Wrightbus and Artemis will also receive millions in DESNZ and DfT funding to develop green tech.
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.
STATISTICS
The level of inward investment stock in Northern Ireland at the end of 2021 was £19.2bn[1] of which, some of the top countries with inward investment stock in Northern Ireland were the United States (£7.2bn), Germany (£1.5bn), the Netherlands (£1.3bn), and France (£0.9bn)[2]
Some of the top industries for inward investment stock in Northern Ireland were financial services (£2.7bn), other manufacturing (£2.3bn), and electricity, gas, water, and waste (£1.8bn)[3]
Northern Ireland landed 33 new FDI projects in 2022/23, creating 1,416 new jobs[4].
Products, services and technologies from Northern Ireland are sold to over 100 countries across the globe[5].
United States is the largest source of foreign investment in Northern Ireland, with the level of inward FDI stock from the US at £7.2 billion at the end of 2021[6].
[1] Source: ONS foreign direct investment experimental UK subnational estimates 2021 published April 2023
[2] Source: ONS foreign direct investment experimental UK subnational estimates 2021 published April 2023
[3] Source: ONS foreign direct investment experimental UK subnational estimates 2021 published April 2023
[4] Source: DBT inward investment results 2022-23 published June 2023
[5] Source: HMRC regional trade in goods statistics. NI exports goods to more than 100 countries
[6] Source: ONS foreign direct investment experimental UK subnational estimates 2021 published April 2023
SHOWCASE BUSINESSES
Artemis Technologies
Artemis is a high-performance green maritime design and applied technologies company with a mission to decarbonise maritime. Artemis Technologies develops innovative technologies and 100% electric foiling vessels powered by its transformative Artemis eFoiler® electric propulsion system. The company’s zero emission vessels offer commercially viable solutions, smart mobility, defence and leisure sectors.
Axial3D
Axial3D provides hospitals and medical device manufacturers access to an easy-to-use, repeatable, and scalable way to transform 2D medical image data into 3D. Through its 510(k) cleared, AI-driven cloud-based segmentation platform, Axial3D automatically convert patients’ DICOM data into 3D visualizations, printable and mesh files, and 3D printed models.
Catagen
Catagen provides patented green emissions testing services to global automotive manufacturers. Its expertise in the mobility sector and global emissions standards has led the company to develop new technologies including Green Hydrogen (not an electrolyser) and Bio-hydrogen Generators, E-fuel, Hydrogen Compression and Carbon Capture to clean and decarbonise the air.
Collins Aerospace
Collins Aerospace in Kilkeel manufactures innovative aircraft seating solutions across the entire cabin for airlines around the globe. With more than 800 employees, the Kilkeel site is one of the largest seating manufacturing facilities in the world, producing nearly 25% of all commercial aircraft seats flying today.
Creative Composites
Creative Composites is the UK’s most advanced composites manufacturer, producing components for some of the world’s most-respected brands. Based in the UK, making daily deliveries across the globe, it is committed to long-term partnerships and exceeding its customers’ expectations.
Cumulus Neuroscience
Cumulus Neuroscience develops faster, more effective tools to help its partners solve the biggest healthcare challenges in neurodegeneration and psychiatry. It has developed the world’s most advanced, at-home, medical grade, flexible data collection and analytics platform to solve some of the biggest challenges in monitoring functional brain health and brain disorders.
Deluxe
The Deluxe Group are combining creativity, innovation, and artisan craftmanship to carve out a successful reputation as a contractor internationally across sectors such as theme park attractions, luxury hospitality, residential and cruise line interiors. It delivers complex and challenging projects on time and on budget to major clients internationally.
Denroy
Denroy are one of the only four companies worldwide to hold the ADS 21st Century Supply Chains Gold Award. Current areas that Denroy’s R&T department are working on include: Hybrid moulding and Overmoulding, Thermoplastic composites, Thermoplastic welding and joining, and Advanced 3D printing.
EDGE Innovate
EDGE Innovate has become one of the world’s biggest manufacturers and exporters of sophisticated equipment for the quarrying, waste handling and recycling sectors. It exports more than 99% of its products from its state-of-the-art manufacturing facility, having developed a strong presence throughout overseas markets such as North America and Australia.
FAST Technologies
FAST is an advanced manufacturing company, specialising in automation, robotics and software solutions for companies worldwide. With headquarters in Derry/Londonderry, and an advanced automation hub in Belfast, Northern Ireland, it has over 25 years’ experience in industrial automation which allows it to provide best in class automation solutions to industry leaders.
Harlander
Harlander is a collaborative project harnessing innovative technologies and services from Belfast Harbour, BT and ANGOKA. With £5.5m funding from Innovate UK, it will establish Northern Ireland’s first automated passenger shuttle service, providing secure last-mile connectivity within Belfast Harbour Estate, supporting Belfast Harbour’s delivery of a Strategic Transport Masterplan for Queen’s Island.
Kinetsu
Kinsetsu helps organisations maximise asset utilisation with real-time visualisation. Using sensors, it seamlessly locates, manages, and tracks physical assets on its platform ktrack. Visualising assets through mapping and analytics significantly improves efficiency and service utilisation, while lowering cost, risk and ensuring compliance in complex daily operations.
Northern Ireland Screen
Northern Ireland Screen, the national screen agency for Northern Ireland, aims to establish Northern Ireland as the strongest screen industry outside of London in the UK and Ireland, while also ensuring that the industry is supported by vibrant and diverse cultural voices that are recognised and celebrated equally at home and abroad.
Queen’s University Belfast
Queen’s University Belfast’s Innovation Centres will result in over 20 ambitious projects, create up to 20,000 new jobs, and establish the region as a global investment destination by 2030. Queen’s takes a central role in designing and implementing entrepreneurship programs across UK, and Europe.
Randox
A global market leader within the in vitro diagnostics industry, Randox Laboratories develop innovative diagnostic solutions for hospitals, clinical, research and molecular labs, food testing, forensic toxicology, veterinary labs and life sciences. With offices and distribution in over 145 countries, Randox offers customers improved efficiency, quality, cost-effectiveness and flexibility. Randox is committed to revolutionising healthcare on a global scale.
Respiratory Analytics
Respiratory Analytics is a highly innovative company which has developed the aflo™ respiratory management platform for patients with asthma and COPD. aflo™ uses the latest sensor tech and data analytics to automate correct inhaler technique for the 90% of patients who make technique errors, enabling hyperpersonalised support for improved disease management.
Retinize
Retinize is one of Europe’s fastest-growing Immersive-tech studios working across AR, VR, multi-screen installations and software development. Retinize built its global reputation by creating immersive experiences for major brands, collecting several international awards along the way
Ulster University
Ulster University Business School has a long and successful history of forging long-term, strategic and collaborative relationships with industry and government, contributing £40 million in Gross Value Added (GVA) to the Northern Ireland economy annually to maintain the region’s position as a global FinTech hub.
Wrightbus
Since 1946, Wrightbus has contributed to technology & innovative products that help to grow and improve the global transportation industry. It has developed the world’s first hydrogen electric double deck bus and the world’s most efficient battery electric buses that are revolutionising the industry.
I will be covering the conference for Reuters and whoever else might get in touch. My thread from the day will be here:
Share, and continue the conversation:
Thank you for visiting amanda.ie
You can Buy Me a Coffee or support my independent journalism through PayPal or Patreon
More Stories
