Bombardier Aerospace is investing half a billion pounds in Northern Ireland - the largest ever single investment in Ulster by any company.

The investment, which will sustain over 800 jobs, will see the Belfast facility design and manufacture the wings for the aerospace company’s new C-Series aircrafts.

The Government has also agreed in principle to provide £52m to the project, part of a wider £155m government investment package in Bombardier.

The government investment helped secure Bombardier Aerospace Belfast’s selection as one of the key suppliers to parent company Bombardier on their new 110-130 seat CSeries family of airliners.

First Minister Peter Robinson said: "This is fantastic news for east Belfast and Northern Ireland. I have been involved in this deal for a considerable period of time, pushing the government for their support."

Deputy First Minister Martin McGuinness said: "The investment will also see the development of state of the art technology as well as developing the manufacturing and engineering skills of our workforce that will benefit our economy for years to come."

Economy Minister Arlene Foster welcomed the decision, saying: "Undoubtedly, the expertise in advanced design and innovative composite materials which Bombardier has developed in Belfast has been instrumental to today's decision."

Shaun Woodward, Secretary of State for Northern Ireland, said the decision was proof that "devolution is winning for Northern Ireland".

“The decision by Bombardier is a huge vote of confidence in devolution. It again signals the strong future for Northern Ireland and is a huge vote of confidence in the skills of the work force, " said Mr Woodward.

"The implications of this investment will be felt across the whole of Northern Ireland, the UK and Europe. Bombardier’s decision will act as a major boost to the economy of Northern Ireland.

“Economies around the world fought for this investment but it was Belfast that won the confidence of the Board. The skills already established by Bombardier helped clinch the deal but it is the potential to train this base with new skills that is vital.

“At a time of global economic challenges, the significance of securing over 800 jobs cannot be overestimated."

“I want to congratulate all those who have been involved in ensuring that this contract came to Belfast.”

John Hutton, Business Secretary, added: “The UK’s aerospace industry is world-class. This investment in Belfast demonstrates the Government’s commitment to supporting high-tech, high-skilled aerospace companies in the UK and ensure we remain a world leader in this sector.

“This package of support will see the return of aircraft wing production and bring new composite materials technology for wing design and manufacturing to Bombardier Aerospace Belfast, adding to the company’s strengths.”