US firm's new tech hub to create 50 'high value' jobs in Northern Ireland

By Sooraj Shah
29 Mar 2012 View Comments
A job interview seen from above

US financial services firm Cowen International is to set up a technology research and development centre in Northern Ireland that could create up to 50 "high value" jobs.

The centre will be based in Belfast and will provide a range of technology and global support services to Cowen operations and also be responsible for developing new technologies.

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Northern Ireland's enterprise minister, Arlene Foster, said that the new centre is important for the region's economic growth.

"This is the latest in a series of inward investment successes for [regional business development agency] Invest Northern Ireland (INI), which has identified the financial services and ICT sectors as important drivers for economic growth.

"Subject to satisfactory growth and development, the project could create up to 50 jobs, which will pay salaries more than double the private sector average and will contribute more than £2m a year to the economy. This is the kind of high value project that INI is targeting and is another valuable win for Northern Ireland," she said.

INI has offered up to £500,000 of support for the investment.

The Department for Employment and Learning has also offered £175,800 of support under its Assured Skills programme, which is designed to ensure existing companies and new businesses looking to move to Northern Ireland that the skills they need are readily available.

Cowen International is a subsidiary of US-based financial firm Cowen Group. Cowen Group's chairman, Peter Cohen, said: "We are pleased to bring new jobs here to Northern Ireland as we grow our operations. We considered several international investment locations for the new centre and were drawn to the excellent, educated workforce available here and the support offered by Invest NI."

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