A SPECIALIST financial software company and a US sandwich chain have unveiled new investment plans which could create more than 500 jobs in the North.
First Derivatives, the financial software and consulting specialist based in Newry, Co Down, is to expand its operation in a move which should create a total of 142 new jobs.
The company, which is listed on both London’s Alternative Investment Market and the Irish Stock Exchange, operates primarily in the capital markets technology sector.
First Derivatives currently employs 145 people at its headquarters in Newry, and has clients throughout Europe, the US and Singapore.
Brian Conlon, chief executive officer of First Derivatives, said the company helps its clients to streamline costs – a critical factor particularly in the current economic climate.
The North’s Economy Minister Arlene Foster believes the additional jobs created by First Derivatives will generate an extra £11.6 million (€12.8 million) in wages and salaries in Northern Ireland over the next two years.
The US sandwich franchise Subway has also unveiled plans to create up to 400 additional jobs in Northern Ireland.
It currently has 87 stores in the North but hopes to grow its franchise operation by a further 40 stores by 2010.
The jobs boost from the financial software group and the sandwich chain came as two Belfast-based firms also delivered positive news on employment.
ICS Computing, which is owned by WR Barnett Group, hopes to create an additional 50 jobs in Northern Ireland.
The company, which provides a range of software and outsourcing services, has secured major new contracts totalling £2.5 million from NHS trusts.
One of Belfast’s leading city centre hotels, Ten Square, is also hoping to be in a position to create up to 75 new jobs.
It has applied for planning permission to develop a further 85 bedrooms, an underground swimming pool and new conference facilities.
The hotel said its expansion proposal has the potential to create 100 construction jobs.
But while the prospect of new jobs will help boost the economic forecasts for some parts of Northern Ireland, there remain major concerns over jobs in other areas.
Talks continued yesterday between management and workers at the Henry Denny Sons factory in Portadown, which is owned by the Kerry Group.
Nearly 100 jobs are under threat at the food processing factory in Co Armagh.
Meanwhile, 37 employees of a Belfast-based firm set up to process cheques for Bank of Ireland and the Allied Irish Bank Group have been told they are being made redundant.
ClearCo is expected to close its doors by the summer, but its employees will be offered the opportunity of relocating to work in Dublin.
