North America's Bombardier, along with Bloomberg and Cybersource, all unveiled major investment plans for the Province bringing jobs and a significant boost to the economy.

Investment

With over 100 senior US executives from more than 80 companies attending the three-day conference in Belfast – which is showcasing the Province as a place to do business – more announcements are expected today.

In terms of scale of investment, the largest came from aerospace giant Bombardier which is to invest £70 million in its aircraft manufacturing plant in Belfast.

The company is investing a total of £50 million in the manufacture of major components for the new CRJ1000 regional aircraft including the fuselage, nacelle and flight control surfaces, all of which will be produced at the Belfast site where 5,000 are employed.

Employment

The CRJ1000, which can accommodate up to 100 passengers, is due to enter service next year. Bombardier already has 39 firm orders for the aircraft.

The investment, which will secure 1,000 jobs at the plant, will also cover a range of technologically advanced aircraft development projects.

Invest Northern Ireland has offered almost £10 million towards the overall £70 million investment.

Skilled workforce

President and Chief Operating Officer of Bombardier Aerospace Pierre Beaudoin confirmed the investment as he addressed the opening reception of the US-NI investment conference at the Folk and Transport Museum in Cultra yesterday evening.

Commenting on the investment, Michael Ryan, general manager Bombardier Belfast, said: "One thousand people will be working on the CRJ1000 aircraft programme when production is at full rate – that will certainly secure a lot of work and, depending on where the other aircraft programmes are, that could mean new jobs as well."

Innovation

Speaking at the welcome reception at the Folk and Transport Museum for conference delegates, Minister Dodds welcomed the announcement: "I commend Bombardier Aerospace on making this significant commitment to its Northern Ireland operation.

"This investment, supported by Invest NI, will underpin over 1,000 jobs into the future and will help to sustain and grow the productivity and global competitiveness of the local aerospace sector as a whole, one of Northern Ireland's biggest private sector employers.

"As the oldest aerospace region in the world, Northern Ireland has a strong aviation heritage and, consequently, a highly skilled and motivated workforce in the sector.

"These attributes, coupled with a commitment to innovation and efficient work practices, play a significant role in helping to secure this kind of reinvestment from a major international company like Bombardier and are indicative of the standard of local manufacturing operations."

Mr Dodds added: "The CRJ1000 will cater for the growing demand for regional aircraft in North America, Europe and Asia and will help to strengthen Bombardier's position in these markets."