A £2.5 million government-backed investment programme for rural businesses in the north west could create up to 55 jobs by next year.
The Rural Business Investment Scheme is administered by the Derry and Strabane Rural Partnership, which is jointly funded by the Department of Agriculture and the EU.
The rural partnership said the funding programme has already helped create 73 jobs through support for capital investment projects, with that number expected to rise to 130 into 2020.
Mayor of Derry City and Strabane District Council, Michaela Boyle said: “This multi-million-pound windfall has helped create 73 new jobs so far for the local economy by supporting local businesses with the acquisition and installation of state-of-the-art equipment, the extension of existing premises, and the delivery of training and marketing provisions.
“We fully expect the number of total jobs the scheme will deliver will increase to over 130 full and part time positions as the rural businesses complete their projects over the next six months, a further significant boost to the area.”
Co Tyrone company KES Group is among the businesses to have benefited.
Based in Drumquin, the firm initially specialised in the installation of biomass boilers and solar panels before diversifying in recent years. It has used the scheme for new machinery for a modular building enterprise in Strabane, creating three jobs.
Managing director Conor McCrossan said the scheme will help KES buy equipment to enable the manufacture of structural insulated panels (SIPs), used for making modular buildings.
“Purchasing this equipment will allow us to manufacture structural insulated panels in-house which will not only increase our operational capacity but crucially improve the quality of our end products. Specific to the introduction of this equipment, we will be creating three jobs within the team, to include two regional sales managers and a production manager.
“This project is running in tandem with our ambitious expansion to a new £3m facility on the outskirts of Strabane that will house our company’s entire business operations and incorporate the introduction of the new production line for the structured insulated panels.”
