Nearly 700 jobs are to be created in Northern Ireland by a US-owned software company, it was announced today.
Northbrook Technology said its expansion plans would mean 400 new jobs at its Belfast base and 260 more at new premises in Derry and Strabane, Co Tyrone.
The company said it expected its total employment in Northern Ireland to reach over 1,400 by 2006.
Northbrook is a subsidiary of US insurance giant All State and is being given £5.5 million (€8 million) selective financial assistance by the British government's Northern Ireland economic agency, Invest NI.
The announcement was welcomed by the North's Enterprise Minister Barry Gardiner during a visit to Derry.
He said it was "particularly good news for the North West and will provide quality employment opportunities with a fast growing US insurance company in a developing business sector."
The minister said it was an "exceptionally important" development within Invest NI's plans for the North West of the North.
"The Northbrook expansion will focus on the development of new skills in software and services in an area that has been badly affected by the closure and downsizing of textiles and clothing and other traditional industries," added Mr Gardiner.