Northern Ireland Finance Minister Peter Robinson helped launch a new project at the Hanwood Business Park, Tullycarnet, East Belfast.

Mr Robinson was attending a ceremony to mark the laying of the first brick of Phase 2 of the business park project.

Speaking at the event he said: "I am pleased that EU funding in Castlereagh is being used to support economic infrastructure, thereby stimulating growth and developing potential in deprived areas. The Hanwood project is an excellent example of this.

"I commend the Council's Economic Development Department and the Hanwood Trust for the substantial work they have carried out.

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"The 25 new units under construction have the potential to provide employment for up to 50 people. It is important that we capitalise on new opportunities through a collaborative approach, as shown by the number of funding organisations involved in this project."

Phase 2 of the Hanwood Business Park comprises 25 offices for start-up business units. It is envisaged that it will facilitate the creation and development of community businesses, social enterprise and the relocating of existing businesses.

The project aims to encourage the creation and development of an enterprise culture and entrepreneurship within Tullycarnet and the surrounding areas. It is hoped that it will create high levels of sustainable local employment and attract more investment to the area.

Phase 1 of the Hanwood project is already completed, providing office space, meeting rooms and a 24 station IT suite. Phase 2 of the project will be completed by the end of August 2008.

Phase 3 will develop a state of the art third generation synthetic sports pitch and community gymnasium.

Phase 4 will consist of a filling station, mini market and four retail units. The total cost for the development will be in the region of £10 -£12 million.

(VB/JM)