Business

EU investment has secured over 3,000 NI jobs in past five years

Investment from EU companies has secured 3,224 jobs in Northern Ireland over the last five years official government figures show
Investment from EU companies has secured 3,224 jobs in Northern Ireland over the last five years official government figures show Investment from EU companies has secured 3,224 jobs in Northern Ireland over the last five years official government figures show

INVESTMENT from EU companies has secured 3,224 jobs in Northern Ireland over the last five years official government figures show.

According to Department for International Trade (DIT) statistics between the period 2012/13 and 2016/17 a total of 75 investment projects were started by companies from the European Union in Northern Ireland.

These projects created 2,747 new jobs, and safeguarded 477 existing jobs.

Across the whole of the United Kingdom, 3,149 EU projects were responsible for creating 116,000 jobs and safeguarding 80,000 more, the figures show.

The Open Britain campaign says this demonstrates the importance of staying in the Single Market, as leaving it would increase barriers to trade and deter future investment.

Executive director of Open Britain James McGrory said the figures show the importance of the European Union to the Northern Ireland economy.

"Liam Fox keeps talking about the great new trade deals we will do after Brexit. But his own department’s figures show that investment from the European Union is vital to the economy of Northern Ireland and the whole of the UK."

“With 2,747 jobs created by EU investment in Northern Ireland, it beggars belief that the government would want to take us out of the European Single Market. Doing so would create new barriers to trade, making investment less likely and putting jobs at risk.

“To protect jobs and our economy, Ministers need to see sense and negotiate continued membership of the Single Market after the UK leaves the EU," he added.

In all 203 FDI projects were started in Northern Ireland over the five year time period between 2012 and 2017, creating 13,691 new jobs and safeguarding a further 2,665. The investments from EU companies are included within these statistics