£3.75m business hub investment to support ‘enormous potential’ of North Belfast

More than £3.5 million is to be invested into a business hub in North Belfast to support the “enormous potential” of the area.

Three buildings will be renovated to provide community-based facilities, including expanded workspace for businesses.

The buildings will add to the premises that make up the North City Business Centre (NCBC), which aims to stimulate entrepreneurship and create new jobs in one of Northern Ireland’s most economically disadvantaged areas.

Economy Minister Caoimhe Archibald said the £3.75 million investment “represents a powerful commitment to the people of North Belfast”.

She added: “By securing these three sites, we are laying the foundations for long-term economic renewal, job creation, and enhanced community infrastructure.

“North Belfast has enormous potential, and this acquisition ensures that local people and local businesses will be at the centre of future growth.

“I look forward to seeing these buildings become vibrant assets that support opportunity, innovation and community wellbeing.”

David Williamson, chairman of North City Business Centre, said: “I am delighted to announce the acquisition of three new sites in North Belfast, bringing North City Business Centre’s total footprint close to 200,000sq ft.

“With Government funding of £3.75 million and NCBC’s own capital expenditure, this will amount to a significant investment in the area over a number of years.

“It is our intention to extensively refurbish and restructure two of the sites to meet the specific needs of local businesses, which will allow us to attract many new and growing businesses and new local jobs to this highly disadvantaged area.

“The development will also allow us to extend our wider work in the area, in partnership with other community based, public and private organisations, to ensure the greatest local benefit from this investment.”

Sinn Fein MP for North Belfast John Finucane said the funding boost “will be an incredible driver for our local economy, helping to create more jobs and enabling new businesses to flourish in the heart of North Belfast”.

He added: “I want to commend Minister Caoimhe Archibald and North City Business Centre who worked hard to secure this vital funding, which will provide a great boost to our community.

“I look forward to seeing these buildings transformed and to local workers and families reaping the rewards ahead.”

DUP MLA for North Belfast Phillip Brett said the investment represents “a clear demonstration that the UK Government is committed to delivering for Northern Ireland”.

He added: “Significantly, this is the only project in Northern Ireland to receive this funding, ensuring North Belfast benefits directly from national investment and is not left behind.

“I have worked closely with North City Business Centre and with Gavin Robinson to make the case to Government for this funding.

“It was vital that Northern Ireland secured its fair share, and I am pleased that our efforts have delivered this outcome for North Belfast.”

The £3.75 million of funding comes from the UK Government’s Local Growth Fund, which came into force in April replacing the UK Shared Prosperity Fund.

Parties at Stormont have been critical of the Local Growth Fund’s 70/30 capital-to-revenue split, resulting in funding cuts to the voluntary and community sector.