29 January 2010: Jobs boost for Derry tech firm with £60m investment

Almost 100 high-tech jobs are to be created by a £60m (€69m) investment in a Derry technology firm, it was announced today. The cash boost for Seagate Technology will bring 85 new research and development posts to the Springtown plant in the city and a further 10 research positions based at Queen’s University in Belfast. A £47.3m (€54.9m) injection from the company will be enhanced with a £12.7m (€14.7m) grant from Invest Northern Ireland.

The investment announcement comes days after Enterprise Minister Arlene Foster outlined a series of measures aimed at improving the way government supports businesses in the North. The strategy, which was prompted by an independent review of economic policy, aimed to put more focus on research and development work. Ms Foster welcomed the Seagate development on a visit to the firm today. “Encouraging innovation and boosting business research and development are hugely important to our economic future and will be key drivers in helping us deliver the productivity goal contained in the Programme for Government,” she said. “In making these investments in the North West, Seagate is once again demonstrating its confidence in our local workforce and suppliers and is helping send a very strong signal to other potential international investors that the North West is a competitive and compelling location.”

Source – Breakingnews.ie