Newry’s transformation Education 2 Employment Presentation to St Joseph’s High School December 2012 Dr Conor Patterson 2012: A CHANGING IRELAND IRELAND • A stepping stone for North, Central & South American companies into Europe • Skilled people • Low business tax • Euro • English speaking Newry Newry transformed Newry then….. 1922 - 1998 Economic Disadvantage Contributed to Political Instability Dis-investment The Transformation of Newry Late 1990’s onwards - NEW INVESTMENT A station fit for one of the best located places in Ireland for doing business NEW ROADS Transformation Factors Transformation Factor Peace A New Departure Transformation Factor European Union EUROPEAN UNION • Removed economic borders • Investment • Brought countries and parties together Newry’s location: 2.5 million consumers within 100km Transformation Factor Self Help & entrepreneurial culture Entrepreneurial Spirit • Highest rate of self employment in UK • Many micro-enterprises (4,055) – higher 5 year survival rate than NI or UK average • A high concentration of successful locally owned export-focused businesses that could provide a blueprint for the rest of Northern Ireland • Commitment to self-improvement through education Globally successful locally-owned businesses across a range of sectors • Norbrook Laboratories (pharmaceuticals) • Glen Dimplex (electronics) • MJM (specialist fit out) • First Derivatives (financial software) • Parker Green International (property) Entrepreneurial Spirit • Newry was a ‘frontier’ location during the troubles – little or no public or private investment in its economy • Self-help, especially self employment, became a way of life for many in Newry. • Trading back and forth across the border was second nature SELF HELP •Newry Credit Union Giving the working class access to finance •Newry & Mourne Co-operative and Enterprise Agency Working in Partnership locally, regionally, nationally, internationally •Community Associations across Newry Transformation Factor Inward Investment INWARD INVESTMENT • N./R.Ireland = English-speaking • N./R. Ireland = Young well-educated pop’ • Attractive base for US multinationals (Irish-American links) • R.Ireland = Euro • R.Ireland = Low business tax (two thirds less than UK) • N./R. Ireland = Small (a little inward investment makes a big difference) Transformation Factor Partnership Working Greater Newry Greater Vision The Development Challenge …. Unblocking the bottleneck Southern Relief Road and Bridge The Development Challenge exploit our assets The Recession The effects of the RECESSION : • Unemployment • Lower wages • Restricted bank lending • Austerity measures • Loss of confidence Entrepreneurship is the route out of Recession .... The solution to the economic crisis.... at a time when banks have no funds, governments are making cuts and big businesses are contracting not expanding...... lies with people turning to their ‘inner entrepreneur’ to create their own opportunities...... their own ‘Work In Newry’ (WIN)....... - Being an ‘entrepreneur’ doesn’t mean you have to start your own business. - It’s a way of thinking.... - Many people who don’t work for themselves are recognised as ‘entrepreneurs’ within their organisations A ‘social entrepreneur’..... Conor Patterson Newry & Mourne Co-operative and Enterprise Agency Well known entrepreneurs Do you know any other entrepreneurs? Any Questions? Real life entrepreneurs You will now break into groups of 10 and visit local entrepreneurs who run their businesses from WIN Business Park on a daily basis Please ask these entrepreneurs plenty of questions as they are the experts!