A conversation with Peta Conn, Director GB & Europe, Invest Northern Ireland
Invest Northern Ireland (Invest NI) is the region’s economic development agency. It plays a key role in supporting business growth, attracting investment from international companies into Northern Ireland and increasing exports from Northern Ireland’s companies to the rest of the world.
According to HMRC statistics, between April 2023 and March 2024, the region exported over £6.7bn in goods to the European Union, evidence of its strong trading links and the world-class products and services produced by Northern Ireland’s companies.
To gain a better understanding of what Northern Ireland can offer international businesses and the work of Invest NI, The European spoke with Peta Conn, Director GB & Europe at Invest Northern Ireland.
Why should international companies consider Northern Ireland as a location for business expansion?
Peta Conn: Northern Ireland stands out as an ideal location for international companies to set up operations. Our highly skilled and well-educated workforce, competitive operating costs, unique GB (Great Britain) and EU market access and business-friendly environment are just some of the reasons why over 1,500 international businesses are already based in Northern Ireland.
Over 60% of new investors have reinvested, which demonstrates the benefits of doing business here. Multinational companies, including Terex, Citi, Baker McKenzie, Rakuten, Deloitte, FinTrU, Seagate, Artemis and TEVA have found Northern Ireland to be so beneficial that they’ve repeatedly reinvested and strengthened their presence.
Businesses located in Northern Ireland can access GB and EU markets free from tariffs, customs documentation, or declarations. This unique market access makes it easy for companies to ship to these two major markets, all while enjoying seamless trade processes.
Our location serves as an excellent gateway for European companies looking to access the wider UK and Republic of Ireland (ROI) markets. Given our geographical proximity, establishing trade relationships from Northern Ireland to GB can simplify logistics and reduce transportation costs.
Northern Ireland is a cost-competitive business environment, offering companies much lower overheads than many other European countries. According to 2023 fDi Benchmark research, operating costs can be on average 40% lower than many other western European locations. This is an advantage for companies looking to maximise profitability while maintaining high standards of operation.
We have a highly skilled workforce, with one of Europe’s youngest and fastest-growing populations, who stay in Northern Ireland because of its lower cost of living and great quality of life, helping companies attract and retain talent. Students in Northern Ireland consistently outperform other UK regions in GCSE and A-Level exams, with 72% going on to further and higher education.
Northern Ireland is also a region committed to a sustainable future, promoting eco-friendly practices across industries, helping companies cut energy needs and maximise green economy opportunities. We are a leader in the connection of distributed renewable energy to the grid with over 49% of all energy used in the region coming from a renewable energy source.
How does Invest NI support new businesses in setting up their operations in Northern Ireland?
PC: At Invest NI, we support international companies in establishing and expanding successful operations in Northern Ireland. This includes initial fact-finding, bespoke discovery visits, property, talent sourcing, business and sector network introductions and tailored packages of financial assistance. We have a team of investment professionals ready to speak to companies as to whether Northern Ireland can be the right growth location for their business.
We partner with global businesses across sectors including Advanced Manufacturing & Engineering, Life & Health Sciences, Materials Handling, Food & Drink, and Technology. We introduce companies in Europe to world-class products and services from Northern Ireland exporters.
Describe how Invest NI collaborates with local educational institutions and research centres to foster innovation and skills development in the region?
PC: Northern Ireland is compact, making it an ideal place to collaborate with industry, academia, and government. Our investors anecdotally comment that immersion in this local ecosystem is one of the benefits of locating in the region.
We have an extensive network of further education colleges that provide excellent academic and vocational training and an accessible research hub for investors, including two globally recognised universities – Queen’s University Belfast and Ulster University.
Our universities and further education colleges work closely with businesses to ensure students gain the most relevant skills and qualifications. Supported by the Northern Ireland Department for the Economy, the fully-funded Assured Skills Programme offers pre-employment training through a flexible academy model. This initiative has been used to help companies recruit new staff in areas like software development, data analytics, cybersecurity, applied intelligence, legal services, and financial services. For companies looking to expand across borders, there is nothing else in Europe quite like this programme, as it ensures incoming companies can find the right talent with the right skill sets.
Northern Ireland is also set to benefit from a £1.2bn package of government funding, known as City and Growth Deals, to develop our collaborative landscape and support the creation of global centres of innovation excellence. The deals target the key growth areas of data security, connectivity and analytics; precision medicine; digital healthcare technology; advanced manufacturing and industrial digitisation, robotics, and automation; personalised medicine; and AI and big data. This will create opportunities for businesses, located both in and outside Northern Ireland to collaborate and tap into the expertise of our universities, and create breakthrough technologies, products, and services.
Additionally, they will develop the infrastructure and facilities that will allow the next generation of products to be trialled and tested.
What are Northern Ireland’s key sectoral strengths?
PC: Northern Ireland is known for exporting our innovative products and services to over 100 countries, demonstrating the demand for our cutting-edge solutions. Our expertise is recognised across several sectors including:
Agritech
Life and Health Sciences
Advanced Manufacturing, Materials & Engineering
Fintech / Financial Services
Software (including cyber)
Screen Industries; and
Low Carbon (including Green Hydrogen)
Northern Ireland’s strong heritage of innovation is evident in the success of our companies across several sectors. From fintech and cybersecurity, to aerospace and materials handling, our products and services have made significant contributions globally.
Wrightbus created the world’s first double-decker electric bus, contributing to greener public transport and the advancement of sustainability. Wrightbus supplies hydrogen buses to Germany and earlier this year announced a new deal to provide a further 46, ordered by Cottbusverkehr GmbH to serve the city of Cottbus.
The PAC Group, a Northern Ireland-based firm specialising in electrical and mechanical engineering services, secured a £700,000 export contract in the Netherlands.
Advanced Manufacturing & Engineering is the foundation of our economy, accounting for 11% of employment and 15% of Gross Value Added (GVA). This sector alone generates export sales of nearly £4.2bn, reflecting the high demand for Northern Ireland’s world-class goods, built on a century-long tradition of engineering excellence.
Are there any upcoming events or workshops organised by Invest NI that businesses should be aware of?
PC: We take a presence at trade exhibitions across Europe and beyond to showcase our sector capabilities. These events offer buyers the opportunity to connect with our companies, learn more about our products and services, and explore potential partnerships. Visit us at the European exhibitions below to discover how our companies can benefit your business.
Smart City Expo World Congress
Barcelona, Spain
5-7 November 2024
EuroTier
Hannover, Germany
12-15 November 2024
Agromek
Herning, Denmark
26-29 November 2024
Further information
To find out more about how Northern Ireland can support your business ambitions visit: investni.com/Europe-And-Great-Britain or contact Peta Conn at [email protected]
Main image: The Peace Bridge in Derry, Londonderry
