Hi °C | Lo °C Lowering the rate of corporation tax would be the final move to make Northern Ireland the best place in the world for foreign companies to invest, the First Minister has said.
Peter Robinson was speaking at the launch of a new guide, Investing In Northern Ireland: A Guide to Foreign Direct Investment In Northern Ireland.
The information has been produced by Chartered Accountants Ireland.
Mr Robinson said that all the settings are now in place to make Northern Ireland a business mecca -apart from the rate of corporation tax.
Currently at 24%, the Treasury is due to make a decision later this year about whether the devolved Stormont Government can set its own level closer to that of the Republic of Ireland's at 12.5%.
"Northern Ireland has an unprecedented opportunity for the first time in generations to make its mark on the world stage," he said.
"Once we were known for conflict, now we are becoming known for our golf, our tourism offering, our skills and the welcoming character of our people
"We are moving from being a low-wage economy and starting to become a place which is attracting high-end jobs.
"Who would have thought ten years ago that companies like the New York Stock Exchange and Chicago Mercantile Exchange would have such a strong presence here?
"We are currently a good a proposition for investment as anywhere else in Europe, but with lower corporation tax, we would be unbeatable."
"It has been estimated that with each percentage drop in corporation tax, employment could improve by between 4.8% and 9.7%. If we reduced it to 12.5%, we could create 58,000 jobs, nearing full employment."
