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New office units at Workspace, Magherafelt officially opened

Published on:  24 Oct 2006

A substantial extension to Workspace office units in Magherafelt, aiming to create 30 new jobs was officially opened today, Tuesday 24th October by Anne Henderson of the International Fund for Ireland.

The £490,000 investment, which will create 7,000 sq ft of additional workspace for ICT and other business start ups has been developed by Workspace (Draperstown) Limited and received part funding from the International Fund for Ireland and the European Regional Development fund administered through DETI.

Speaking at the official opening, International Fund for Ireland Board Member Anne Henderson said, “Creating the conditions within which business opportunities can flourish has been a key area of activity for the Fund.  We are very pleased, therefore, to have been able to support Workspace in providing these much needed additional office units to accommodate new and expanding businesses which will bring further social and economic benefits to the Magherafelt area."

Howard Keery, Head of EU Programmes in DETI, said: “The economic revitalisation Measure of the Peace II programme provides financial assistance to help support the economic transition of NI to a more stable, peaceful and prosperous society.  This is demonstrated through the developments such as we see here today which provide a workplace environment which is widely recognised as a primary source of cross-community contact in Northern Ireland. This development has been a catalyst for increased investment in the area and will help stimulate growth, develop potential and create jobs for the people of Magherafelt”.  

Chairman of Workspace Board of Directors, Michael McAllister added,   “Each year Workspace helps more than 100 new businesses start up through the Business Start up programme. As a result, of the 26 Councils in Northern Ireland, the Magherafelt district has the highest level of business start ups per head of population.  Providing these types of premises which meet the needs of growing SME’s is vital if we are to encourage the formation and development of local businesses."

Workspace currently owns 100,000 sq ft of property and employs 55 people. Its units are occupied by 50 tenants who employ a further 250 people in businesses as diverse as an export agent through to an alternative energy supplier. Since 2001, Workspace has helped to start 515 businesses throughout the council area which now employ 800 people. 

We welcome the assistance from our funders who have kept faith with our mission to support local businesses and local employment.”

Click to download press release: 224kb

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