Northern Ireland Science Park to launch major expansion plan

The Northern Ireland Science Park now operates as a non-profit foundation

The Northern Ireland Science Park intends to develop another 1m sq ft of office space over the next 10 years as part of a major expansion plan.

The organisation, which is changing its name to Catalyst Inc, is also aiming to support 5,000 additional jobs.

It was founded in 1999 with public money.

It now operates as a non-profit foundation aimed at growing technology businesses.

Catalyst Inc operates from nine sites in Belfast, Londonderry and Letterkenny, County Donegal.

It plans to submit planning applications for three new buildings in the next six months.

Its tenants include international firms like Citi and Dow as well as locally-owned businesses employing a total of 2,600 people.

Norman Apsley, chief executive of Catalyst Inc, said: "The time was right to accelerate the generation and exploitation of knowledge."

"Everyone talks about the need to grow the economy and drive our expertise and skills in technology as it is applied to every business sector.

"What we have done at Catalyst Inc is to provide the right environment for that ambition to take hold and to prosper."