International Foreign Direct Investment still has a major role to play in the future of Northern Ireland’s economy, according to U.S. Special Envoy to Northern Ireland, Joe Kennedy III, who spoke at a panel event, entitled “Northern Ireland’s Gateway to Growth”, held in Belfast last week.
The event was hosted by Glandore, a preferred flexible workspace partner & landing space for international companies in Northern Ireland, in its newly expanded and renovated Arthur Place location. The panel included representatives from four international companies currently scaling teams in Glandore; Agio, Intapp, 9fin and Optiva with the discussion moderated by Simon Hamilton, former Government Minister and Belfast Chamber CEO and current Managing Director of Confluence Consulting.
The FDI Intelligence ‘European Cities and Regions of the Future 2024’ report which was published earlier this year, officially ranked Belfast fifth overall compared to other mid-sized cities. Ranked number two for FDI Strategy and in the top ten for investment potential and business friendliness, Belfast is leading the charge in bringing FDI investment to Northern Ireland.
The factors that influence Northern Ireland’s success in attracting international investment, its impact on career opportunities and economic growth were discussed as the panellists shared their companies’ investment journeys and choice of Belfast as a location.
John Vance, Senior Director of AI based software solutions company Intapp, shared that Intapp’s presence in Belfast followed its acquisition of indigenous firm Repstor. He referred to the acquisition and Intapp’s subsequent growth in Northern Ireland from 30 to over 70 employees as a “safe investment” as many of Intapp’s existing clients were based in Belfast & this ecosystem of legal talent offered the right skills and capabilities to support their growth.
Linda Robb, Head of Data Operations and Belfast Site Lead at AI-powered data and analytics platform 9Fin, praised the work of Invest NI in winning 9fin’s investment in Northern Ireland along with a previous international law firm, Ogletree Deakins, for which she also held the role of site lead. Robb also highlighted the importance of the Good Friday Agreement in opening up Northern Ireland for international investment and the positive impact that it had on her career opportunities in Belfast.
David Costa, COO at hybrid managed IT and cybersecurity organisation Agio, discussed Agio’s expansion in Belfast and how the workforce in NI and time-zone have been key to the business’s growth. With the business model based on a balance of AI and human support, having a strong base of employees in Belfast is leading to the prospect of expanding into the London market.
Richard McLaughlin, Senior Director Software Engineering and site lead at leading cloud-native billing, charging, and partner monetisation software provider Optiva, gave praise to Northern Ireland’s strong education system which produces a motivated, ambitious and successful workforce, critical to attracting and retaining FDI’s to NI.
Glandore Founder & Chairman Michael Kelly shared in his welcome address that whilst Glandore opened its doors in Belfast in 2006, he purchased Arthur Place in 1998 three months after the Good Friday agreement. Kelly followed that investment with the purchase of Arthur House, across the street, two years later.
“26 years on, Glandore’s Arthur Place and Arthur House are now home to over 50 member companies from local start-ups and SME’s to international firms that have chosen Northern Ireland as an investment location. The transformation of what was a tired, dilapidated street into a vibrant retail and business hub is an example of how international investment has been and will continue to be Northern Ireland’s gateway to growth,” said Kelly.
In his address, U.S. Special Envoy Joe Kennedy III said: “The fact that 70% of Northern Ireland’s 1,200 international companies reinvest in this region speaks volumes about what Northern Ireland has to offer including world class universities, a skilled workforce and the best telecommunications infrastructure in Europe.”
The Special Envoy also gave credit to Glandore and the ecosystem in Northern Ireland that supports international investment saying “Many of these companies have passed through these doors at various stages of development, and they benefitted from the services that you provide and the people that you bring together. This is an incredibly exciting time to be in Northern Ireland because of what you all have built, nurtured, incubated and now what I get to broadcast all over this island and over the United States.”
Clare Kelly, Glandore Director said: “For Glandore, it is a privilege to support the efforts of Invest NI and to be part of a collaborative network of Chambers of Commerce and professional service firms that work together to support the growth and retention of international investment in Northern Ireland. Our mission over the last 18 years in Belfast is to facilitate their growth and success by providing world class space, services and exceptional care to their teams.”
Glandore is family-owned business and leading flexible workspace provider with 10 locations across the island of Ireland in Belfast, Dublin and Cork. Glandore has provided the landing and expansion space for a significant number of international firms in Northern Ireland including Rapid 7, Microsoft, Liberty IT, HP and Ogletree Deakins.