Business Facilities - May 2008 - (Page 9)

“There are sectors where we feel we have very real competitive advantages,” says Williams. “Tourism, creative industries, financial services, bioscience, energy, and sustainability—as illustrated by G24i’s arrival here—are all strong areas with masses of potential for investment.” BELFAST ON THE FAST TRACK Across the Irish Sea from north Wales sits Belfast, Northern Ireland’s capital and cultural core. U.S. businesses have steadily been choosing this Celtic city for their European bases, which has led to the first U.S.Northern Ireland Investment Conference, held in May in Belfast. The summit enabled about fifty U.S. CEOs to network and learn about the advantages of Northern Ireland’s prime business market. In fact, Belfast is second only to London in attracting foreign investment projects, according to foreign investment authority OCO Consulting. In the past five years, 51 U.S. companies have relocated to Northern Ireland, resulting in more than $1 billion in investment and creating more than 5,000 jobs, according to the country’s development agency, Invest Northern Ireland Belfast City Hall (INI). “Corporate operating costs in Northern Ireland are about 30% less than Dublin and 40% less than London,” says Gary Hanley, senior vice president of INI, “which makes for a compelling solution for Canadian and U.S. companies.” OCO Consulting also has identified Northern Ireland as the top European country for software development and technology support operations. In February, the Bostonbased Center for Integration of Medicine and Innovative Technology (CIMIT) joined into a collaborative venture with Northern Ireland’s Sensor Technologies and Devices (ST+D) to develop a wireless health monitoring system. The companies’ investment is worth over £400,000, in addition to over £130,000 in funds from INI and £1 million in venture funds. Partners HealthCare, a member of CIMIT and a major U.S. healthcare system, signed a memorandum of understanding encouraging the project’s development. “Through financial assistance packages, we help Canadian and U.S. companies to relocate here, put together business plans, recruit staff, make contact with banks and prop- THE NAME GAME: UK EDITION The United Kingdom comprises four constituent nations—England, Wales, Scotland, and Northern Ireland—plus numerous worldwide territories, including Bermuda, Gibraltar, and the British Virgin Islands. Great Britain encompasses England, Wales, and Scotland, which all share the same land mass. As such, Welsh and Scottish people can be considered British, but they are not English. The British Isles is often used to describe Great Britain and the nearby island of Northern Ireland and Ireland, but many Irish reject this nomenclature. Ireland is an independent republic, not a part of the UK. erty agents, and access infrastructure needed to set up quickly,” says Hanley. THE ORIGINAL YORK The northern English regions of Yorkshire and Humber are also attracting U.S. interest. Floridabased StarCompliance Software will soon expand its European headquarters in Yorkshire. The company invested $4 million in a software development center at the University of York in 2006, and plans to invest a further $1.5 million per year to focus more on sales and marketing. “As a global firm, we could have chosen to locate anywhere, but we found Yorkshire and Humber is so much cheaper than London, for example,” says Martin Mannion, chief executive of StarCompliance. “It also has great rail and road links to client destinations, such as London and Edinburgh, and airports that are within easy reach.” More than 20 U.S. companies, such as Boeing and Black & Decker, currently operate in Yorkshire. BUSINESS FACILITIES 9 PHOTO CREDIT: INVEST NORTHERN IRELAND

Table of Contents Feed for the Digital Edition of Business Facilities - May 2008

Business Facilities - May 2008 Contents First Word Snapshots The UK's Most Lucrative Locations, Pound for Pound Economic Development in a Flash Corporate Moves: Massachusetts Florida: A Ripe Climate for Innovation Innovating Big in Rhode IIsland Retail Set to Ride Out a Recession Corporate Moves: New Jersey South Carolina: A Sweet Spot in the Southeast Endless Opportunities in North Carolina Economic Awakening in the Mohawk Valley Metro Spotlight: Alexandria, LA Where Call Centers Call Home Texas Receives First Business Facilities State of the Year Award Advertiser Index Inside Livexchange

Business Facilities - May 2008

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