Owens Myrick posted an update 11 months ago
Affordable, a co-operative, skilled and enthusiastic workforce keen to see investors successful, have aligned to produce Northern Ireland a nice-looking alternative for both private and public sector relocations. It is really an equalling appealing option for the level of internationally mobile, high skills level traders who are considering a move.
This region, once marred by its history of political instability and violence, is making a new designer appeal. It is starting to bring in the kind of internationally mobile, high ability businesses and entrepreneurs with whom it seeks to construct a far 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 higher than the level one might expect for any population of just 1.Seven million people. It’s a persuasive combination which has encouraged many investors like Halifax, Regus, Prudential and a network of national government benefits offices to establish and grow significant back office operations in your community.
Why has it been so successful? One very clear reason is the cost of prime work place. In Belfast, the rental figure is definitely ?12.50/$24 per square feet against, by way of example, Glasgow’s ?22/$41 or Birmingham’s ?28/$52. Wages, too, are lower by about nine percent an average of and Watson Wyatt research reveals that a senior programmer costing $120,000 in New York or San fran and $105,000 working in london will set you back just $70,000 in Belfast.
For young graduates, the visible difference may be up to 29 % while for additional senior staff, it can be even wider. Through the outlook during incoming labour, this isn’t necessarily a disincentive since the price of property, telecoms and travel are lower whilst the total well being is excellent.
Operating costs and sick leave absence run at ‘abnormal’ amounts too. Northern Ireland also enjoys an outstanding historic record in industrial relations terms with strikes and associated activities a rarity.
Public sector incentives will provide appropriate training and incoming companies can anticipate considerable support in up-skilling staff through the Training and Employment Agency.
In the world where the expertise of the labour force has become increasingly important, Northern Ireland excels. The workforce is younger than the other UK with almost 60 percent below the age of 40 as well as the exceptionally high standards within the education system give you a strong pool of obtainable talent. Northern Ireland’s schools boast to the next stage of university entrance than anywhere else in england with over 60 per cent of faculty leavers achieving two A levels at grades A to C.
Innovation, education and dynamism would be the key strengths. There two major universities spread across several campuses from Belfast to Londonderry and Coleraine. The Queen’s University of Belfast is a lot older and one from the original four universities around the island developed by the Belfast-born architect Sir Charles Lanyon in 1845. Its intention then was to encourage higher education for Catholics and Presbyterians being a counterpart to Trinity College in Dublin. Now it’s 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 your Ulster Polytechnic, established back in the 1970s, and after this has a superb reputation over the fields of business and new technology.
Both institutions have globally recognised research centres across an entirely range of disciplines, and are spinning out products, services and inventions which is why you will find there’s keen commercial market. They are aggressively capitalising on these opportunities.
Technology transfer is currently the important thing driver in relation to relocation: knowledge based sectors accounted for 76 percent of all foreign direct investment recently. Call centres and make contact with centres are flourishing – global blue chip names like Microsoft, Oracle and Yell have a very presence, and also other top class companies are seen in sectors like engineering, health technology and aerospace.
Another key sector earmarked for more growth is tourism. An end to ongoing political violence offers a good start to have an industry that struggled seriously under the pressure of relentless news reports depicting bombs, shootings and street violence. Yet Northern Ireland carries a wonderful selection of coast and country, city and hamlet, mountains and lakes.
The re-emergence of tourism has once more showed Northern Ireland around the world. Guests are amazed by the variety of its beauty, from your Glens of Antrim for the Fermanagh Lakelands so beautifully depicted inside the art of TP Flanagan. You have the fabulous walking and climbing with the peaks in the Mourne Mountains spread across County Down and made iconic in this traditional song by Percy French, Oh Mary this London’s an awesome sight, With folks here working during the day and also by night…nevertheless for everything I came across there, I would too be where the Mountains of Mourne sweep down to the sea." A substantial quantity of decisions on relocation have already been taken after senior executives of companies have come to begin to see the quality lifestyle by themselves.
Business infrastructure is also excellent. Any knowledge economy relies upon telecommunications since it’s backbone, and Northern Ireland can now boast 100 percent broadband coverage. Throughout the border inside the Republic, telephone services remain viewed as being second class. This really is a lot more from the perception in comparison to the reality, but old habits die hard cheap Northern Ireland has become universally wired for online access gives it an unique business advantage.
Obviously, not everything in a garden is rosy. Communications between south and north are perfect – the trip from Belfast to Dublin takes pair of hours approximately by road and there are trains every 30 minute – as well as the Republic has become a financial powerhouse in recent years. Blue chip names which may have invested south of the border include Microsoft, Google and Dell, as well as the Dublin government provides incentives like a low rate of corporation tax, that the north, with tax rates set with the UK Treasury, just cannot match. The Republic is also from the Eurozone which is seen by inward investors as being a distinct advantage, including since it virtually eliminates transaction costs.
Facing these challenges, Northern Ireland has become more going to succeed. There exists better co-operation between south and north now, especially in areas like technology and tourism and pragmatism sometimes dictates an all-Ireland approach is most suitable.
The island of Ireland has fairly perceived, like Scotland, as peripheral to Europe. This is an unfair perception as there are good air connections from Belfast and Dublin plus obviously frequent ferry connections through the Channel and also to britain mainland. Destinations throughout Europe and direct flights to the States make Ireland no longer difficult than in the UK to visit and from.
in relative terms, Northern Ireland is a reasonably small area, making up in regards to a sixth of the whole island or 14,139 sq km. Its diminutive size brings by using it certain advantages – there exists less traffic and less congestion, for example, and more open areas and unspoilt country and coast. Roads are fantastic, the house market is booming however affordable and the variety of leisure and shopping options is excellent.
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