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Alchemy's Derry investment with 250 jobs boost a 'strong vote in city'

By Jonathan Bell

Alchemy Technology Services' major investment in Londonderry with the creation of 250 new jobs has been hailed as a "strong vote of confidence in the city".

The company is setting up a European Centre of Excellence in the city. It will provide software implementation and technology consultancy to the UK and European insurance sector.

The company will provide certified staff to system integrators, software providers and insurance companies for the implementation of digital solutions across the insurance industry and will be based at the City Factory in Derry.

Government has offered nearly £2.3million of funding and the posts will have an average salary of around £25,000.

John Harkin, director and founder of Alchemy said: “Insurance companies in the UK, and across Europe, are making an unprecedented investment in the digital transformation of their core systems and processes to respond to the changing demands within their marketplace.

"There is a real shortage of specialist skills to respond to this upsurge in digital transformation projects across the insurance industry. We plan to help meet that demand by bringing new talent into the industry.

"We look forward to working with the Department for the Economy’s Assured Skills Training programme to recruit business and technology oriented graduates and college students with good communication and interpersonal skills to fill these customer facing roles.

“I am originally from Derry, and have made frequent visits here in recent months as we assessed different locations for this investment. I have met with the colleges and university, and numerous students and have been impressed. I am confident that this is the right place to set up our business and find the talent we need.”

Foyle DUP MLA Gary Middleton welcomed the announcement.

"It's a strong vote of confidence in Londonderry and will provide a real boost to the city," he said.

"With work continuing on a city deal for Londonderry announcements such as this demonstrates the positive future we can build for the city and the wider region.”

Invest NI chief executive Alastair Hamilton added: “The Alchemy management team has extensive knowledge of the insurance sector and in delivering transformation projects.

"They have identified a gap in the market to provide a service to the insurance industry and believe Londonderry is the right place to find the talent to meet this need.

“Alchemy is planning to create the new roles in software implementation and technology consultancy over the next three years. The majority of the roles will be customer facing with the opportunity to work on projects right across Europe.

“With average salaries in the mid-£20k range, and good opportunities for progression, these are roles that will suit college and university students, as well as graduates.

“Once the project is fully implemented it will generate over £6.5 million in annual salaries, a real economic boost for Northern Ireland, and the North West specifically."

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