The US Special Envoy to Northern Ireland has announced inward investment from a Florida-headquartered insurance company, Frontline, and the creation of 31 jobs.
Joe Kennedy made the announcement as he led a delegation of senior US business figures to Northern Ireland in an effort to woo inward investment from the region.
Frontline are investing a total of £3.8 million in the establishment of a engineering development team in Northern Ireland which it said will generate £1.9 million in annual salaries. It will operate under the OpenData brand and be based at Belfast’s Gasworks.
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“When President Biden came here in April, he spoke of plans for a trade delegation to Northern Ireland. I’m delighted that we have realised that ambition and that during our visit I can announce this investment by Frontline,” Joe Kennedy said. “Frontline is joining the many US investors who have experienced success and growth in Northern Ireland and is setting up its new engineering development team, taking advantage of the excellent skills available and the business-friendly environment.
“This investment underscores the compelling proposition that Northern Ireland offers.”
It is the type of announcement Senator Kennedy will be hoping to repeat in the coming months if he manages to persuade others on his current four-day delegation to follow suit.
Names on the delegate list include representatives from the State of New York, from Cocoa Coco, Liberty Mutual Insurance and Boston Scientific.
They have been visiting current overseas investors, particularly those from the US, as well as indigenous companies.
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“Around 230 companies from the United States have a presence in Northern Ireland and around 80% of those companies, across a wide range of industrial sectors, have reinvested here,” he said. “They believe in the people and opportunity in Northern Ireland and over the next few days, I want to help share that proposition with the delegation.
“They will learn about Northern Ireland’s highly skilled and motivated talent pool, driven by its world-class universities and colleges. They will also witness at first-hand how 1,200 international companies benefit from competitive operating costs, world-class suppliers, and unparalleled broadband coverage.”