Manufacturing in Northern Ireland continues to grow as a selection of 30 businesses come together to announce investment of over £22million and 282 new jobs.
And businesses in County Down are playing their part in this business development.
The 30 firms, supported by Invest Northern Ireland, are from a broad range of disciplines: food to chemicals, pharmaceutical to transport equipment.
Speaking at an event hosted by Invest NI to recognise the commitment to growth within the manufacturing industry, Invest NI’s Chief Executive Alastair Hamilton said: “Today’s event is an opportunity to highlight some of the investments manufacturing focused businesses are making. The local firms we have here today are from right across Northern Ireland.
“With £1.9 million of support from Invest NI they are making a combined investment of over £22million in our economy. As well as stimulating economic growth there are also new job opportunities, with 282 new jobs being created, which will generate over £6.3million annually in additional salaries for the local economy.”
“” Exact CNC are among the manufacturing based firms in Co. Down committed to growing their business, benefiting from combined Invest NI support of over £355,000. http://www.exactnewrycnc.com/
Collectively these firms are investing over £2.7million in projects that will create 46 jobs. Once in place these new jobs will generate over £1million annually in additional salaries to the local economy.
“These investments show real commitment from businesses to invest in the future. With investment in new equipment, skills and training, new jobs and export development, it is clear that there is real opportunity for growth in manufacturing.”
Welcoming the investments, Stephen Kelly Manufacturing NI Chief Executive said: “Manufacturing plays a huge role in the Northern Ireland economy generating annual sales approaching £20 billion, directly employing 80,000 people, supporting production and employment in a wider supply chain and creating jobs and strong communities in every constituency across Northern Ireland.
“SME’s make up 98% of all businesses here in Northern Ireland and are at the very heart of what we do in our manufacturing base. Week in, week out, companies like this continue to work very hard to keep moving forward, to build and grow our business economy and build communities.
“It is encouraging to see the progress and developments being made by firms across all disciplines. Invest NI is offering valuable support to enable these businesses to create highly skilled, well paid jobs and drive innovation and growth in export markets.”
Northern Ireland manufacturing is rich in knowledge, skills and experience, founded on a strong heritage. A large number of manufacturing businesses account for 15 per cent of all local economic output and one in every nine local jobs.
Speaking about Invest NI’s commitment to helping these businesses, Alastair Hamilton added: “Growing and strengthening Northern Ireland’s manufacturing business base is core to our strategy. We continue to focus on growing local businesses, increasing investment, and identifying new export opportunities.
“We are working closely with organisations like Manufacturing NI to support the promotion and growth of manufacturing. We have a global reputation in areas such as our Advanced Manufacturing, materials and engineering sectors. By working in partnership with businesses we can continue to support them to capitalise on new opportunities and realise their full potential.”
The investments are underway and over 100 of the new jobs are already in place.
Manufacturing plays a huge part in the Northern Ireland economy with the latest HMRC 12 month rolling figures valuing manufacturing exports at just over £8bn.