Irish telecomms company eircom is doubling its workforce in Belfast to 60 after winning substantial new contracts including a major three-year deal with NI Water.
The announcement was made today as Enterprise Minister Arlene Foster opened the company's new offices in the city.
The minister welcomed eircom's £8.5 million investment in Northern Ireland and their plans for a further £1.5 million injection in the coming months.
Mrs Foster said: "It is particularly good news in these challenging economic times that eircom Northern Ireland has plans for a further £1.5 million investment over the next 12 months in Northern Ireland, bringing the company's investment here to over £10 million."
She added: "I also welcome eircom's plans to create a further 30 high value graduate jobs as a result of recent bid successes.
"These include today's announcement of a major contract, worth over £600,000 over three years, from NI Water for infrastructure management services."
The presence of eircom in Northern Ireland represented a significant step in the development of the province's telecommunication market, she said.
Earlier this week another Dublin-based telecomms company, Intune Networks, announced it was creating nearly 80 jobs in Belfast at a new R&D centre.
Cathal Magee, eircom acting group chief executive, said: "eircom is committed to establishing a significant presence in Northern Ireland.
"The NI Water contract win and our ongoing investment are clear evidence of our long term commitment to Northern Ireland.
"By working in collaboration with our business partners we are bringing world class telecommunications standards to Northern Ireland that will not only improve local business competitiveness but position it as an ideal location for inward investment."
The minister added: "It comes as no surprise that a company like eircom has decided to invest in the market here.
"We have a vibrant competitive market, a pool of highly qualified and enthusiastic workers and a strategic investment plan in place for telecommunications infrastructure."
She said the Stormont Executive recognised the importance of telecommunications and as part of its priority for growing a dynamic and innovative economy, it had committed to invest in infrastructure to improve the region's telecommunications and a range of advice and support services to help small and medium sized businesses.