The Economy Minister, Nigel Dodds announced the construction of the new five-storey enterprise building, at CityEast, today. The development, scheduled for completion in early 2009, has a hi-spec office-level finish, providing 68 flexible workspaces for small businesses.
Visiting the site today, Economy Minister Nigel Dodds said: “This development provides an important opportunity for small companies to build their businesses with the support of East Belfast Enterprise. The plans for 68 workspace units will help create jobs in the local area and stimulate economic growth and entrepreneurship.”
The project will be part-funded to £1,082,500 by the European Programme for Peace and Reconciliation (Peace II) provided through Department of Enterprise, Trade and Investment, (DETI) and up to £842,000 from the International Fund for Ireland (IFI). The balance will be funded by East Belfast Enterprise.
The Minister added: “The Executive’s Programme for Government has made the economy a top priority and one of our targets is to grow local businesses with particular emphasis on increased exports for existing local companies. Enterprise Agencies have a key role to play in promoting the export agenda and helping the small business sector reach its full potential.”
Minister Dodds was joined by Denis Rooney, Chairman of IFI, who commented: “I am delighted that the Fund will provide assistance of £842k towards the development of business start up and retail units on the Newtownards Road, East Belfast. Everyone involved with the project is to be congratulated. Ultimately, the work the Fund is investing in now is part of our commitment to building a sustainable and lasting peace for everyone in our society. Without the support of our international donors, the United States, the European Union, Canada, Australia and New Zealand, we could not continue to fund projects such as the City East project”.
East Belfast Enterprise Chairman Mervyn Hempton, welcomed funders to the site and said: “This marks a very important milestone for us and for the community we serve. Inner East Belfast has areas of high social deprivation, high levels of unemployment, a low level of entrepreneurial activity and waiting lists for workspace units. We and others are working to redress all of these, and the arrival of ‘City East’ will increase our capability to provide small businesses and entrepreneurs flexible affordable workspace. It will relieve the pressures on capacity at our existing East Belfast Enterprise Park at Albertbridge Road
“These new enterprise offices and workspace in East Belfast will have a regenerating impact in the area; it will create jobs for local people, and supplier opportunities. The new centre will be well placed in an area of high unemployment thus creating an opportunity for local jobs for local people.
“None of this would be possible without the commitment, support and funds that have been provided by all the parties visiting the site this morning and I would like to express to them all the gratitude of East Belfast Enterprise in their joining us in this venture.”
Sited on land near the junction of Newtownards Road, Middlepath Street and Short Strand (the former Kwikfit site) was originally acquired by the Department for Social Development’s Belfast Regeneration Office as a gateway to East Belfast. The specification for the development required community regeneration impact, given its key location in a deprived area and on an interface. East Belfast Enterprise submitted a proposal to meet the specifications for the project and was subsequently selected as the preferred developer. It has since purchased the site from the Department for Social Development and secured the additional funding to complete the project from IFI, the European Programme for Peace and Reconcilliation, and from its own resources.
Notes to Editors:
- The Department of Enterprise, Trade and Investment is responsible for delivering the Economic Revitalisation Measure of the EU Programme for Peace and Reconciliation 2000-2006 (Peace II).
- The Enterprise development will comprise some 25,000sq ft in total, providing 20,000sq ft of lettable space. It will comprise some 30 units, varying in size from 150sq ft to 1,000sq ft.
- The International Fund for Ireland is an international organisation established by the Irish and British Governments in 1986 with the objectives of promoting economic and social advance and of encouraging contact, dialogue and reconciliation between unionists and nationalists throughout Ireland. Contributors to the Fund are the United States, the European Union, Canada, Australia and New Zealand. Since its inception, the Fund has committed more than £589 m/EUR 845 m to a wide variety of projects in Northern Ireland and the border counties.
- East Belfast Enterprise Limited is the Local Enterprise Agency for East Belfast. It embraces the brands and programmes EBE, Virtual Secretary Programme, Learn 2 Earn, Start A Business Programme, New Deal Self Employment and Tradelinks through its offices at 308 Albertbridge Road, Belfast.
- For media enquiries, please contact DETI Press Office on 028 90529297. Outside office hours, please contact the Duty Press Officer via pager Number 07699 715 440 and your call will be returned.
