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£1.6m new business units officially opened in Bangor

Published on:  23 Mar 2007

Joint Director General of the International Fund for Ireland, Alexander Smith, and Howard Keery of Department of Enterprise, Trade and Investment, officially opened a new £1.6m business centre in Bangor yesterday.

Situated in Innotec Drive the new business centre is the fourth phase in a series of investments by North Down Development Organisation (NDDO) the Borough’s Local Enterprise Agency and comprises 18,750 sq ft of specialist industrial units and office space.

The £1.6m investment has been supported by the International Fund for Ireland and the Peace II programme delivered through the Department of Enterprise Trade and Investment, each contributing £437,000 to the project.

Available for occupation from December 2006, eight of the 18 industrial units have already been let to tenants with interest being shown from another 3. The centre currently provides employment for 29 people and has a projected employment figure of 70 over 5 years. 

Speaking at the official opening Alexander Smith said: “The International Fund for Ireland has enjoyed a long and successful relationship with North Down Development Organisation since 1984 and we are delighted to be here again to give our wholehearted support to the group.”

“Creating the conditions where businesses opportunities can flourish has been a key area of activity for the Fund and I have no doubt that this much needed additional workspace will bring further social and economic benefits to the Bangor area."

Howard Keery, Department of Enterprise Trade and Investment, said: “Development such as this exemplifies the important contribution which European funding is making to the economic regeneration of all communities across Northern Ireland.”

Of the 18 business units, Lynne Vance, Chief Executive of NDDO, said: “The Board of NDDO has demonstrated its commitment to support the development of North Down entrepreneurs by investing £1.3m to ensure local businesses have the right facilities and environment to maximize their potential to create wealth and jobs in the area.”

The centre will provide businesses with a range of workspace units from 500 sq ft to 2,000 sq feet under one roof offering companies a corporate environment specifically designed to stimulate business growth, encourage inter-company collaboration and promote networking opportunities.

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