The amount of tech-related foreign direct investment (FDI) into Northern Ireland remains low compared to the rest of the UK. However, the region ranks first when it comes to the number of FDI jobs created, a new study shows.
The EY survey shows the North leading the UK in terms of jobs established as a result of tech-focused FDI, with an average of 95 roles created by each inward investment into the region. This is despite it only attracting 1.4 per cent of tech-related FDI in the UK.
Overall, the UK’s technology sector recorded 269 inward investments during the course of 2016, the highest level in a decade. This is equivalent to 27 per cent of the total volume of tech-related inward investments across Europe.
Film and media
"Northern Ireland's continued success in attracting FDI is based on a talented workforce and overall competitiveness of doing business in the North, therefore it is no surprise that the region leads the way in jobs across the UK in the tech sector as per this data. With a dedicated, well-funded, investment agency, the region has an enviable recent track record in attracting investors and the success in developing clusters in areas as diverse as cybersecurity, film and media, and legal services bodes well for the future," said Michael Hall, managing partner for EY in Northern Ireland.
“Skills lie at the heart of the tech sector and with a desirable quality of life, affordable urban housing market and quality healthcare and school provision the pieces are in place to continue the region’s success in job-focused investments,” he added.
Mr Hall warned however, that with the continued lack of a local executive, uncertainties relating to Brexit and continued cuts to public sector budgets, particularly in the area of education, the region must not get complacent as “the investment landscape is becoming ever more competitive”.
