Bombardier unveils £70m aircraft plan for Belfast

BOMBARDIER HAS used the opening of the US-Northern Ireland Investment Conference to unveil a £70 million investment in major aircraft manufacturing in Belfast.

According to the Industry Minister Nigel Dodds's department, the investment will cover a range of technologically advanced aircraft development projects and incorporates more than £50 million for the manufacture of major components for the new Bombardier CRJ1000 regional 100-seater aircraft.

The announcement is supported by Invest Northern Ireland to the tune of £10 million.

It was the second major announcement of the day.

Earlier American company CyberSource said it is to establish a research and development centre in Belfast creating 56 "high-value" jobs over the next three years, the Minister announced. Invest Northern Ireland is providing funding of £840,000 for the development.

Its founder, chairman and chief executive Bill McKiernan made clear at the press conference announcing the investment plan that his connection to Ireland was a factor in setting up in Northern Ireland - an indicator of how this link could play into future investment opportunities in the North.

CyberSource provides security for internet payments and has some 237,000 customers worldwide.

The company has a turnover of $1.2 billion, and last year processed more than 1.2 billion electronic transactions valued at more than $56 billion.

While the announcement was modest in scale, Mr Dodds said these were well-paid professional posts which he hoped would enhance Northern Ireland's reputation in the global information and financial services sectors. These were two key strategic targets of Invest NI.

"This sends a very positive message to conference delegates who are arriving in Northern Ireland from North America," he said.

"The growing level of investment in Northern Ireland by companies including CyberSource demonstrates there is a worldwide recognition of Northern Ireland as a location offering a highly skilled and talented workforce in a cost-competitive and culturally compatible operating environment," added Mr Dodds.

"This investment is exactly the right kind of investment, the type of high-quality opportunity that we are targeting as a government as part of our programme for government which has economic development and growth at the very centre of its future plans," he said.

More than 100 senior executives from some 80 North American corporations gathered last night in Cultra, Co Down, for the opening of the three-day investment conference.

Attendance at the conference is still closely guarded on the grounds of market sensitivity, but The Irish Times understands that among the attendees are Batelle, BST Global (Europe), Ebay, Edwards Jones Solicitors, IceMoss Technology, AOL Global Operations, Energy Answers, Continental Airlines, Goldman Sachs, Liberty Mutual, Qual Comm, Pfizer, and Four Point Solutions.

Speaking in the presence of First Minister Ian Paisley, Deputy First Minister Martin McGuinness and most of the Stormont Executive as well as President Bush's special envoy, ambassador Paula Dobrianksy, industry minister Nigel Dodds said the conference represented "the largest number and highest quality of senior business people from corporate America who have ever visited Northern Ireland at one time".

He said the US would continue to play an important role in growing "the new Northern Ireland" and he credited investors with introducing new activities and creating more and better employment opportunities for all".

The conference, he said, had the support of the heads of the British and Irish governments as well as the support of the US administration and EU Commission president José Manuel Barroso. Statements from Mr Bush and Mr Barosso are expected today.

Mr Dodds told delegates: "You will feel the vibrancy which reflects a region growing in confidence and which is saying quite clearly that Northern Ireland is a great place to live and work and to invest in - we are very much open for business."