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Launch of New Business Units in Draperstown

An extension to the Business Centre in Drapestown that could create up to 35 new jobs was officially launched last Thursday by Anne Henderson, Board member, International Fund for Ireland.  Situated on the Tobermore Road, the new £650k extension is the fifth phase in a series of investments by Workspace and will create a high specification office block of 8,000 sq ft, offering four specialist industrial units of 1,000 sq ft.

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The project is being assisted by the International Fund for Ireland which is contributing £250,000 to the scheme, the Department of Enterprise Trade and Investment which is providing £300,000 and a £100,000 bank loan via UCIT.  The remaining funding is being raised by Workspace.

Project facilitators was set up in 1982 to promote employment and assist with the economic regeneration in the Draperstown area through the promotion and support of the small business sector and the provision of affordable workspace units for start-up and established businesses.  The organisation has assisted 1,000 new business start-ups in the Magherafelt District Council area since its inception.

Work has already started on the new building, which is expected to be complete by October 2008 and will bring the total number of workspace units in the Business Centre in Draperstown to 30 with the potential to employ over 200 people.

Speaking at the official launch, Anne Henderson said, “Creating conditions where businesses can flourish has been a key area of activity for the Fund.  The Board of Workspace has already shown that enterprise can be nurtured through the provisionof affordable workspace.  I am positive that this new expansion will act as a catalyst for continued investment in the area and will stimulate the growth of both new and established businesses.

 “The International Fund for Ireland has enjoyed a long and successful relationship with Workspace since it was established in 1982 and we are delighted to be here again to give our wholehearted support to the group.”

Brian Murray, Chief Executive of Workspace, said:  “We are delighted to be progressing with this development which creates very modern and high tech space for the new types of businesses we now see being set up in this area.  The extension will improve the overall micro business sector in the District which is critically important to the local economy.  We acknowledge the support of our funders in making this project happen.”

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