Cowen International Ltd is to set up a technology research and development centre in Belfast, leading to the creation of 50 high-value jobs, Enterprise Minister Arlene Foster has announced.
The Belfast centre will provide various technology and global support services to Cowen operations and will be responsible for developing new technologies.
“This is the latest in a series of inward investment successes for Invest NI, which has identified the financial services and ICT sectors as important drivers for economic growth," Foster said.
“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 stg£2m a year to the economy. This is the kind of high-value project that Invest NI is targeting and is another valuable win for Northern Ireland.”
Invest Northern Ireland has offered up to stg£500,000 of support for the investment. The Department for Employment and Learning has also offered stg£175,800 of support under its Assured Skills Programme.
Employment and Learning Minister Dr Stephen Farry said the strong skills base is one of the reasons global companies are attracted to Northern Ireland.
"Investment in skills is essential if employers are to maximise the talents of their people," said Farry. "Through the Assured Skills Programme, we can offer investors the necessary support which will help to build the skills base and ensure that they view Northern Ireland as the best location from which to grow their business.
“Assured Skills demonstrate through action that Northern Ireland is open for business and ready and able to help.”
Peter Cohen, chairman of Cowen Group, said they 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”.
Cowen International is a subsidiary of financial services company Cowen Group, which is headquartered in New York.