Aerodynamics investment is welcomed
An umbrella body for the aerospace, defence and security sectors - of which several high-profile firms in Northern Ireland are part - has welcomed news of a new UK Centre for Aerodynamics.
The £60m investment will be spread over two years, £10m of which will be capital investment to upgrade facilities, with £50m of resource funding for delivering the research.
While the centre is likely to be located in England, global companies like Bombardier - which hosts the ADS (Aerospace, Defence and Security) group in Northern Ireland, Thales and Survitec all have large bases here too.
Graham Chisnall, deputy chief executive of the ADS group, said that industry and government can put in place the building blocks that will sustain the aerospace industry in the coming years.
"Future market predictions suggest that the aerospace market could be worth £352bn for the UK between now and 2029 if it maintains its 17% market share," he said.
"With the announced investment, aerospace will contribute even more effectively to the Government's Growth agenda, by increasing its current £23bn contribution to the UK economy. "
As the news was delivered, the First and Deputy First Ministers were visiting the Bombardier factory in Canada and met Northern Irish personnel working there.
Closer to home, Invest NI and plane maker Bombardier Aerospace have funded a £6m research and development centre on Airport Road.
Bombardier also recently bought a £5m site to house its customer service department.