Industrial software firm AVEVA is to invest £1.4 million in a new research and development (R&D) centre in Derry.
The Cambridge-based tech company said the move will create 23 jobs, doubling its workforce in the Catalyst Innovation Centre at Fort George.
Invest NI have offered £161,000 in support towards the new roles.
AVEVA, which first established a presence in Derry in 2015, provides a secure industrial cloud platform and applications to businesses.
The company said the expansion will focus on the development of products to support its global growth, including its flagship asset information management solution, which helps clients manage vast data sources.
The new site will also allow the company to scale its cloud-based solutions to meet growing demand.
“Innovation and investment in technology are central to AVEVA’s strategy,” said Iju Raj, the firm’s executive vice president for R&D.
“We have multiple R&D locations throughout the globe and have chosen to expand within Northern Ireland due to its strong talent pool, associated links to local universities and successful placement and graduate schemes.
“Our decision to expand in Derry is a testament to the wealth of talent available in the North West and the support, advice and guidance we’ve received from Invest NI.
“This R&D centre will be crucial for developing products that keep us at the forefront of technological advancements, enabling us to maintain our competitive edge in the global market.”
The investment has been welcomed by Economy Minister Conor Murphy.
“This investment and the creation of 23 new jobs is a significant boost for the local economy and aligns perfectly with my regional economic action plan, which aims to promote balanced economic growth across the north,” he said.
Brendan McGuigan, director of advanced manufacturing and engineering at Invest NI, said: “By combining our local talent pool with Invest NI support, AVEVA has chosen Derry as the strategic location for its second UK R&D hub, securing a bright future for the company’s operations here.”
