To ask the Minister of Enterprise, Trade and Investment what assurances she can give that the Enterprise Zone in Coleraine will enable the area to become a long-term competitive business location, to retain companies who are incentivised to locate within the Zone, and to continue to attract more business in the future.

The UK Government’s Economic Pact, published on 14 June 2013, set out 3 commitments in relation to Enterprise Zones, focusing on Enhanced Capital Allowances (ECAs) which permit 100% first year allowances for qualifying plant and machinery expenditure. The pilot Enterprise Zone announced in the Budget statement on 19 March will only offer ECAs as an incentive.

The pilot project, which involves the establishment of a data centre by 5NINES in Coleraine, has the potential to promote economic development and further investment in the area. Designating this Enterprise Zone in Northern Ireland is another tool to lever economic growth. Data centres are a strategically important piece of telecommunications infrastructure. Such investments can be crucial in the development of the ICT sector as a whole and will enhance the proposition Northern Ireland can offer to inward investors who are increasingly globally connected.

Invest NI’s overseas sales teams will promote the new data centre to relevant companies in international markets. This, along with the excellent telecoms and IT research base at UU Coleraine and the engineering talent available in the North West region, should help attract more FDI and local companies to explore the location as a suitable place to establish and grow their operations from.