Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I foun

This region, once marred by its history of political instability and violence, is developing a new designer appeal. It is starting to draw in the kind of internationally mobile, high skill level businesses and entrepreneurs with whom it seeks to build a more positive future. Invest Northern Ireland, the local enterprise agency, points out that it has helped to secure annual investments of over ?150 million, well above the level one might expect for a population of just 1.7 million people. It’s a persuasive combination which has encouraged many investors such as Halifax, Regus, Prudential and a network of national government benefits offices to establish and grow significant back office operations in the region.

Why has it been so successful? One very clear reason is the price of prime office space. In Belfast, the rental figure is just ?12.50/$24 per square foot against, for example, Glasgow’s ?22/$41 or Birmingham’s ?28/$52. Wages, too, are lower by about nine per cent on average and Watson Wyatt research reveals that a senior programmer costing $120,000 in New York or San Francisco and $105,000 in London will cost just $70,000 in Belfast. For young graduates, the gap may be as much as 29 per cent while for more senior staff, it may be even wider. From the perspective of incoming labour, this is not necessarily a disincentive since the cost of property, telecoms and travel are lower while the quality of life is excellent. Operating costs and sick leave absence run at lower levels too. Northern Ireland also enjoys an excellent historic record in industrial relations terms with strikes and associated activities a rarity. Public sector incentives are providing appropriate training and incoming companies can anticipate considerable support in up-skilling staff through the Training and Employment Agency.

In a world where the quality of the labour force is becoming ever more important, Northern Ireland excels. The workforce is younger than the rest of the UK with almost 60 per cent under the age of 40 and the exceptionally high standards in the education system provide a strong pool of available talent. Northern Ireland's schools boast a higher level of university entrance than anywhere else in the UK with over 60 per cent of school leavers achieving two A levels at grades A to C.

Innovation, education and dynamism are the key strengths. There two major universities spread across several campuses from Belfast to Londonderry and Coleraine. The Queen’s University of Belfast is much older and one of the original four universities on the island designed by the Belfast-born architect Sir Charles Lanyon in 1845. Its intention then was to encourage higher education for Catholics and Presbyterians as a counterpart to Trinity College in Dublin. Now it is a centre of excellence in both the Arts and Science as well as new technology and cutting-edge computer development.

The University of Ulster grew out of the Ulster Polytechnic, established back in the 1970s, and now has a superb reputation across the fields of business and new technology.

Both institutions have globally recognised research centres across a whole range of disciplines, and both are spinning out products, services and inventions for which there is a keen commercial market. They are aggressively capitalising on these opportunities.

Technology transfer is now the key driver when it comes to relocation: knowledge based sectors accounted for 76 per cent of all foreign direct investment last year. Call centres and contact centres are flourishing - global blue chip names such as Microsoft, Oracle and Yell have a presence, and other world class companies are present in sectors such as engineering, health technology and aerospace.

Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I foun

Why has it been so successful? One very clear reason is the price of prime office space. In Belfast, the rental figure is just ?12.50/$24 per square foot against, for example, Glasgow’s ?22/$41 or Birmingham’s ?28/$52. Wages, too, are lower by about nine per cent on average and Watson Wyatt research reveals that a senior programmer costing $120,000 in New York or San Francisco and $105,000 in London will cost just $70,000 in Belfast. For young graduates, the gap may be as much as 29 per cent while for more senior staff, it may be even wider. From the perspective of incoming labour, this is not necessarily a disincentive since the cost of property, telecoms and travel are lower while the quality of life is excellent. Operating costs and sick leave absence run at lower levels too. Northern Ireland also enjoys an excellent historic record in industrial relations terms with strikes and associated activities a rarity. Public sector incentives are providing appropriate training and incoming companies can anticipate considerable support in up-skilling staff through the Training and Employment Agency.

In a world where the quality of the labour force is becoming ever more important, Northern Ireland excels. The workforce is younger than the rest of the UK with almost 60 per cent under the age of 40 and the exceptionally high standards in the education system provide a strong pool of available talent. Northern Ireland's schools boast a higher level of university entrance than anywhere else in the UK with over 60 per cent of school leavers achieving two A levels at grades A to C.

Innovation, education and dynamism are the key strengths. There two major universities spread across several campuses from Belfast to Londonderry and Coleraine. The Queen’s University of Belfast is much older and one of the original four universities on the island designed by the Belfast-born architect Sir Charles Lanyon in 1845. Its intention then was to encourage higher education for Catholics and Presbyterians as a counterpart to Trinity College in Dublin. Now it is a centre of excellence in both the Arts and Science as well as new technology and cutting-edge computer development.

The University of Ulster grew out of the Ulster Polytechnic, established back in the 1970s, and now has a superb reputation across the fields of business and new technology.

Both institutions have globally recognised research centres across a whole range of disciplines, and both are spinning out products, services and inventions for which there is a keen commercial market. They are aggressively capitalising on these opportunities.

Technology transfer is now the key driver when it comes to relocation: knowledge based sectors accounted for 76 per cent of all foreign direct investment last year. Call centres and contact centres are flourishing - global blue chip names such as Microsoft, Oracle and Yell have a presence, and other world class companies are present in sectors such as engineering, health technology and aerospace.

Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I foun

In a world where the quality of the labour force is becoming ever more important, Northern Ireland excels. The workforce is younger than the rest of the UK with almost 60 per cent under the age of 40 and the exceptionally high standards in the education system provide a strong pool of available talent. Northern Ireland's schools boast a higher level of university entrance than anywhere else in the UK with over 60 per cent of school leavers achieving two A levels at grades A to C.

Innovation, education and dynamism are the key strengths. There two major universities spread across several campuses from Belfast to Londonderry and Coleraine. The Queen’s University of Belfast is much older and one of the original four universities on the island designed by the Belfast-born architect Sir Charles Lanyon in 1845. Its intention then was to encourage higher education for Catholics and Presbyterians as a counterpart to Trinity College in Dublin. Now it is a centre of excellence in both the Arts and Science as well as new technology and cutting-edge computer development.

The University of Ulster grew out of the Ulster Polytechnic, established back in the 1970s, and now has a superb reputation across the fields of business and new technology.

Both institutions have globally recognised research centres across a whole range of disciplines, and both are spinning out products, services and inventions for which there is a keen commercial market. They are aggressively capitalising on these opportunities.

Technology transfer is now the key driver when it comes to relocation: knowledge based sectors accounted for 76 per cent of all foreign direct investment last year. Call centres and contact centres are flourishing - global blue chip names such as Microsoft, Oracle and Yell have a presence, and other world class companies are present in sectors such as engineering, health technology and aerospace.

Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I foun

The University of Ulster grew out of the Ulster Polytechnic, established back in the 1970s, and now has a superb reputation across the fields of business and new technology.

Both institutions have globally recognised research centres across a whole range of disciplines, and both are spinning out products, services and inventions for which there is a keen commercial market. They are aggressively capitalising on these opportunities.

Technology transfer is now the key driver when it comes to relocation: knowledge based sectors accounted for 76 per cent of all foreign direct investment last year. Call centres and contact centres are flourishing - global blue chip names such as Microsoft, Oracle and Yell have a presence, and other world class companies are present in sectors such as engineering, health technology and aerospace.

Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I foun

Another key sector earmarked for further growth is tourism. An end to ongoing political violence has provided a boost for an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland has a wonderful array of coast and country, city and hamlet, mountains and lakes.

The re-emergence of tourism has once again opened up Northern Ireland to the world. Visitors are amazed by the variety of its beauty, from the Glens of Antrim to the Fermanagh Lakelands so beautifully depicted in the art of TP Flanagan. There is the fabulous walking and climbing of the peaks of the Mourne Mountains spread across County Down and made iconic in that traditional song by Percy French, Oh Mary this London’s a wonderful sight, With people here working by day and by night…but for all that I found there, I might as well be where the Mountains of Mourne sweep down to the sea.” A significant number of decisions on relocation have been taken after senior executives of companies have come to see the quality of life for themselves.

Business infrastructure is also excellent. Any knowledge economy relies on telecommunications as its backbone, and Northern Ireland can now boast 100 per cent broadband coverage. Across the border in the Republic, telephone services are still seen as being second class. This is true much more in the perception than in the reality, but old habits die hard and the fact that Northern Ireland is now universally wired for online access gives it a distinct business advantage.

Of course, not everything in the garden is rosy. Communications between north and south are good - the trip from Belfast to Dublin takes only two hours or so by road and there are trains every half hour - and the Republic has become an economic powerhouse in recent years. Blue chip names which have invested south of the border include Microsoft, Google and Dell, and the Dublin government provides incentives such as a low rate of corporation tax, which the north, with tax rates set by the UK Treasury, simply cannot match. The Republic is also in the Eurozone which is seen by inward investors as a distinct advantage, not least because it virtually eliminates transaction costs.

Faced with these challenges, Northern Ireland has become more determined to succeed. There is better co-operation between north and south now, particularly in areas such as technology and tourism and pragmatism sometimes dictates an all-Ireland approach is most appropriate.

The island of Ireland has tended to be perceived, like Scotland, as peripheral to Europe. It’s an unfair perception since there are good air connections from Belfast and Dublin plus of course frequent ferry connections across the Channel and to the UK mainland. Destinations throughout Europe and direct flights to the States make Ireland no more difficult than anywhere in the UK to travel to and from.

in relative terms, Northern Ireland is quite a small area, accounting for about a sixth of the whole island or 14,139 sq km. Its diminutive size brings with it certain advantages - there is less traffic and less congestion, for instance, as well as more open areas and unspoilt country and coast. Roads are good, the residential property market is booming but still affordable and the range of leisure and shopping options is excellent.

Add in generous levels of financial assistance, a pro business climate and a committed population determined to achieve success, and it's easy to see why it's a good place to locate a business.

[CASE STUDY]
Citigroup

The world’s largest financial services company, Citigroup, set up a technology centre of excellence in Belfast just over a year ago. It will create up to 375 jobs and contribute some ?65 million to the local economy over the first five years.

Bill Mills, Chief Executive Officer of Citigroup’s Global Corporate and Investment Bank, said: “Citigroup has ambitious growth plans which depend on developing the technology platforms supporting each of our business areas. The Belfast Centre will play a significant role in this, enhancing our cost competitive position and offering us the opportunity to grow resource levels quickly.

Citigroup brings together banking, insurance, and investments under one umbrella, employing 275,000 and managing 200 million customer accounts across six continents in more than 100 countries.

As well as creating high value jobs the investment will introduce new investment banking technology and skills to Northern Ireland strengthening the region’s attraction for other potential inward investors.

Invest Northern Ireland will contribute over ?7.6 million towards the investment.

Leslie Morrison, chief executive of Invest NI, described the investment as “a signifi