US firm Seagate creates 25 new jobs in a £57m boost to Derry
Data storage specialist Seagate, one of the north-west's biggest employers, has announced an investment of £57.5m and the creation of 25 jobs in its Londonderry plant.
The US company's investment of £47.4m is being supported by economic development agency Invest NI, which has offered support of £9.95m.
Seagate has operated in the north-west for 25 years, with an estimated £1bn capital investment over that period.
The company said the latest funding will be focused on enabling further research and development at the Springtown site in nanophotonics, a technique of electrical engineering.
Nanophotonics is the generation and manipulation of tiny points of light.
Seagate is expected to use nanophotonics to increase the capacity of its disc drives - though the company said it could not disclose any further detail.
According to Seagate, the investment will seal the position of the plant in Derry "as a leader in world class technology innovation".
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It will also create 25 highly skilled new jobs, bringing the workforce to 1,400.
Dave Mosley, chief executive of Seagate Technology, Noel Lavery, the top official at the Department for the Economy, and Jeremy Fitch, executive director at Invest NI, made the announcement at the Seagate Springtown site yesterday.
Mr Mosley said: "Technology innovation is the cornerstone of our success and the industry-leading innovation delivered by our facility in Springtown has been at the heart of our business strategy for the last 25 years.
"Today's investment extends a successful, collaborative partnership with Invest NI.
"It will further strengthen our ability to deliver customer-centric technology leadership for the data-driven future of the global economy."
Jeremy Fitch, executive director at Invest NI, said: "Seagate first came to Northern Ireland in 1994, investing £50m and creating 500 new jobs.
"Fast forward 25 years and the facility now employs 1,400 people and it is estimated that the company has invested in excess of £1bn in capital here.
"Supporting the company along the way has been Invest NI, with every £1 of our support contributing to £4 investment in the local economy.
"We are delighted to be able to offer support towards this latest project which will see 120 highly skilled researchers here at Springtown, including 25 new recruits, play a major role in the development of ground-breaking new technology."
Mr Lavery, Permanent Secretary at the Department for the Economy, said there had been "effective collaboration between Invest NI and Seagate" which had boosted the north-west and wider economy by bringing investment and well-paid jobs.