Northern Ireland's Industrial Development Board (IDB) has reported a record year for jobs and investment. It said prospects for investment were very good while a more peaceful and stable environment should help in the promotion of the region as an investment destination.

Meanwhile, Britain's Chancellor of the Exchequer Mr Gordon Brown is expected to visit Northern Ireland today to announce a package of measures aimed at encouraging investment and enterprise.

He is expected to announce the establishment of a special fund of some £100 million for new capital projects, a major welfare to work scheme for those aged 25 and over and a range of measures to promote investment, particularly from the US.

The IDB, which is responsible for attracting inward investment to Northern Ireland, negotiated 83 projects with both local and externally owned companies, leading to investment plans totalling some £713 million sterling, a 12 per cent increase on the previous year.

The IDB annual report showed that 7,137 jobs were promised in the year ended March 1998 and a further 4,254 jobs safeguarded. But there was little change in overall employment as the creation of 6,540 jobs was offset by the loss of 6,653 jobs during the year.

Net job losses in the textiles and clothing sectors totalled 1,328 while a net 754 jobs were lost in the food, drink and tobacco industry. The most significant employment growth in client companies was in electrical and optical equipment and tradable services where there was a net gain of almost 2,500 jobs.

Overseas companies investing in Northern Ireland, including Nortel, Fujitsu, Du Pont Lycra and Bombardier-Shorts, announced plans to invest £522 million and promised 5,064 jobs.

The level of investment by local firms was particularly encouraging, the IDB said. Local companies, including the Sean Quinn Group, Delta Print and Galen, plan to invest almost £200 million, leading to 2,073 new jobs.

The IDB's average financial contribution toward projects dropped to 22 per cent from 25 per cent a year earlier.

The survey, for 1996/97, showed that £552 million of exports went to the Republic, an increase of 9.7 per cent on the previous year, while exports to Britain were up 9.2 per cent at £2,921 million.