Why Locate in Belfast

• Belfast is the capital city of one of the fastest growing regional economy in the UK
• Labour costs are approximately 15% lower than the UK average while labour turnover is less than 8%
• Corporation and personal taxation are amongst the lowest in Europe
• New, purpose-built and fitted-out office space costs are easily affordable with Belfast currently maintaining the most competitive rental rates in the UK
• Technology costs are among the cheapest and most competitive in Europe
• Telecoms connections take less than 20 millisecs to Europe and around 50 millisecs to the East Coast of USA
• Two world class universities have world-renowned research facilities and boast strong relationships with the local business sector. Both have achieved 5 star (maximum) research excellence ratings in various disciplines.
• Queen’s University Belfast is a member of the influential Russell Group of universities - a group of 20 universities which promote a culture of research excellence and which account for 65% of the research grant and contract income of all UK universities
• Two busy well connected airports. The George Best City Airport is just 10 minutes from the city centre. The Belfast International Airport is 35 minutes from Belfast.
• The Port of Belfast is currently the second largest port on the island of Ireland, handling almost 60% of Northern Ireland’s seaborne trade and 20% of the entire island's sea traffic
• According to the Deloitte Global Ranking index on hotel occupancy produced in March 2008, Belfast was ranked 15th, the second highest-ranking UK city behind London
• Belfast attracts almost 7 million visitors each year, continuing the Lonely Planet’s endorsement of it as being a 'City on the Rise'
• Belfast is ranked fifth in the UK for retail trading conditions, and fourth for retailer confidence (Gerald Eve: ‘Prime Retail Report’ – 2004)

Operational costs

"Set-up costs in Belfast were significantly less than some of the other major business centres in the UK" Jason Malone - Stonia Software Ltd, www.nibusinessinfo.co.uk

The benefits of setting up a business in Belfast include the very competitive operational costs and the liberal taxation regime. New, purpose-built and fitted-out office space costs are easily affordable with Belfast currently maintaining the most competitive rental rates in the UK (prime office rent in Belfast is £14.00per sq ft). By comparison Dublin’s prime office rent is 70% higher than Belfast’s, while London (City) is 78% higher and London (West End) is 88% higher.

Figure 4: Comparison of Prime Office Rents in Major Cities

Source: *Global Market Rents (November 2007) CB Richard Ellis