IDB opens Dublin office

Northern Ireland's economy branches out

The Industrial Development Board, which assists large business in Northern Ireland, has opened its first office in Dublin.

Investment by Republic of Ireland companies in Northern Ireland has reached £60 million over the last two years leading to the creation of 1,200 jobs.

Economic growth in recent years has made the Irish Republic both an attractive export market and a potential source of inward investment.

Northern Ireland's Enterprise Trade and Investment minister Sir Reg Empey opened the office, which he said was the 'logical step' in improving cross-border trade links.

It is my job to get work into Northern Ireland and we will take every opportunity wherever that is

Sir Reg Empey

The Ulster Unionist assemblymember said that current stability in Northern Ireland was the key to developing economic prosperity in the region.

"Stability at home is the one thing that has transformed our economic circumstances in the last five or six years," he said.

"Without that, we are not going to be able to attract investment from anywhere."

Buoyant neighbour

Mr Empey said that buoyant companies in the south were looking to Northern Ireland for graduates and other skilled staff.

"Increasingly Irish companies, particularly those in the buoyant information and communications technology sector, are looking to Northern Ireland for graduates and other skilled staff," he said.

Enterprise Minister: Reg Empey

"It is my job to get work into Northern Ireland and we will take every opportunity wherever that is, where ever in the world," he added.

The minister singled out major companies in the Irish Republic, such as Bank of Ireland, First Trust, Golden Vale and Irish Distillers, which has had a substantial presence in Northern Ireland for many years.

He added that Northern Ireland's potential for knowledge-led industries was demonstrated in the Deloitte-Touche Fast Track 50 report, which showed that 20 of the 50 fastest growing hi-tech companies were based in Northern Ireland.

Targeting American markets

Many of the American companies being targeted by the IDB have their European head quarters in the Irish Republic.

Chairman of the IDB, Alan Gillespie said the new office would allow the board to get closer to more and more international companies.

"The purpose of opening an office in Dublin is to enable us to get closer to these companies," he said.

"It also allows us to reach out to the growing software community in the Republic of Ireland who I think are looking forward to expanding into Northern Ireland."

The purpose of opening an office in Dublin is to enable us to get closer to these companies

Alan Gillespie IDB

Mr Gillespie said the office is an integral part of the IDB's ongoing expansion.

It is also hoped to strengthen long-standing cross-border business relationships.

"The task of the new IDB office in Dublin will be to ensure that ambitious enterprises in the Republic of Ireland know about Northern Ireland's exceptional business opportunity.

"It will also encourage them to follow the example of other firms by looking to Northern Ireland for the skills and continued growth they require," he added.

The IDB helps companies to develop business in Europe and globally from a Northern Ireland location.

It has offices in Europe, America, the Far East and London.