A century of aerospace innovation signals the way forward to achieve sustained economic growth for Northern Ireland.

Hosting a reception in Brussels, to celebrate 100 years of aerospace innovation in Northern Ireland, the Assembly's Economy Minister Nigel Dodds told attendees: "Your investment to innovate, in a competitive global marketplace, is an exemplar to other companies on how to move forward to achieve the economic growth targets set out in the agreed Programme for Government."

Today’s event, in the Office of the Northern Ireland Executive in Brussels, commemorates the pioneering role that Northern Ireland has played in the sector and highlights the latest developments in the capability of local aerospace companies.

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Minister Dodds said: "Northern Ireland has a proud tradition of aerospace innovation and is home to the world’s first aircraft manufacturer, Short Brothers.

"Today, the local aerospace sector is buoyant with successful companies such as Bombardier Aerospace, Moyola Precision Engineering and John Huddleston Engineering. The sector continues to see further economic growth in a fiercely competitive world economy with over 8,500 employees across a diverse range of companies and a turnover in excess of £800 million per year."

The Minister said exports are vital to the continued success of the aerospace industry

Dodds has secured a sizeable package in the agreed budget to support projects aimed at stimulating innovation and entrepreneurship, as well as supporting research and development.

Invest Northern Ireland aim to promote inward investment projects promising over 6500 new jobs by 2011 with investment commitments of £1.2billion. By 2011, Invest NI intends to have helped 45 new start-up businesses to become exporters outside the UK.

(GK)