IT group to create up to 250 jobs in Derry

Alchemy Technologies is to establish a European centre in the city

Invest NI chief executive Alastair Hamilton  with John Harkin, director and founder of Alchemy. Photograph: Kelvin Boyes/Press Eye

Invest NI chief executive Alastair Hamilton with John Harkin, director and founder of Alchemy. Photograph: Kelvin Boyes/Press Eye

 

IT group Alchemy Technologies is to create up to 250 jobs in Derry when it opens a European centre in the city.

Derry-born entrepreneur John Harkin, who set up Alchemy, said the company will provide software implementation and technology consultancy services to the UK and European insurance sector.

Mr Harkin said the new centre, which will be based at City Factory in Derry, will be well placed to respond to the “unprecedented investment” which UK and European insurance companies are currently making to respond to changing demands within their marketplace.

“There is a real shortage of specialist skills to respond to this upsurge in digital transformation projects across the insurance industry. We plan to help meet that demand by bringing new talent into the industry.

Talent

“I am originally from Derry, and have made frequent visits here in recent months as we assessed different locations for this investment. I have met with the colleges and university, and numerous students and have been impressed. I am confident that this is the right place to set up our business and find the talent we need,” he added.

Mr Harkin said the company now intends to work closely with the North’s Department for the Economy to recruit business and technology oriented graduates and college students to fill the new roles in Derry.

The investment boost for the city, which could generate more than £6.5 million (€7.3 million) in annual salaries once the 256 jobs are in place, has been welcomed by local business and political leaders.

Invest NI chief executive Alastair Hamilton said the new jobs will be created over the next three years. Government agencies in the North are supporting Alchemy’s investment project with nearly £2.3 million (€2.6 million) in funding.