25th June 1999

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The University of Ulster at the Magee College campus is to be the site of a multimillion pound International Business Centre, it was announced today.

To be constructed at the University's Aberfoyle site, the new International Business Centre will form part of the Magee College Research Village, which will be the location for the Derry component of the Northern Ireland Science Park project being developed by the University of Ulster.

The Centre, which will add to the several hundred high quality jobs planned for the Science Park, will work closely with the new Massport Trade Centre in the city, also announced this week.

It will also be home to the University's pioneering MSc in International Business, and will drive forward international development programmes for local businesses, as well as offering powerful resource for potential future inward investment businesses.

Speaking at Economies Emerging from Conflict, the major international business conference held this week in Derry's Guildhall by the University of Ulster and the University of Massachusetts, Professor Fabian Monds, Provost of Magee College, said:

"The new £2m centre will be the focal point for International Business teaching, research and partnership at Magee College. Its programmes will build on and strengthen our very successful collaboration with the University of Massachusetts, and our work with the Derry Investment Initiative to promote inward investment.

"I look forward to many exciting business initiatives, especially with young US and Irish 'Knowledge Industry' companies."

"Everything is now in place for this project, and we expect the new International Business Centre to be in operation early next year."

Speaking at a prestige business dinner in the Guildhall last night (Thursday) Mr John Hume MP, MEP, welcomed the initiative:

"This is a very welcome development for the city, and in conjunction with the Massport office, will be a major factor in creating employment in many different ways, for example, through marketing of the products of SMEs, and the direct attraction of inward investment."

President William Bulger of the University of Massachusetts, visiting Derry this week for the Guildhall business conference, said: "It is gratifying to see a further example of what is coming for this region. The commitment of your great institutions, Magee College and John Hume, will pay even greater dividends now.

"This beautiful part of Ireland will soon be a tourist and student Mecca, with the new access for air travel. Dramatic change is imminent."

Mr John Keanie, Chief Executive of Derry City Council, was enthusiastic about the new International Business Centre.

"This welcome announcement for Magee College reinforces one of Derry's growing strengths - that is, the integration of the University with the public and private sectors in expanding our local economy. It is a further expression of confidence in our city as a location for international business, especially in high technology industries."

Note to editors

Funding support during the Centre's start-up period will be provided by the IFI, while capital funding has been sourced from a private donor through the Northern Ireland Educational Foundation, and from the University's own resources.

For further information, please contact:

Press Office Department of Communication and Development
Telephone: 028 9036 6178
Email: pressoffice@ulster.ac.uk