Why has it been so successful? One very clear reason is the price of prime office space. In Belfast, the rental figure is just £12.50/$24 per square foot against, for example, Glasgow’s £22/$41 or Birmingham’s £28/$52. Wages, too, are lower by about nine per cent on average and Watson Wyatt research reveals that a senior programmer costing $120,000 in New York or San Francisco and $105,000 in London will cost just $70,000 in Belfast. For young graduates, the gap may be as much as 29 per cent while for more senior staff, it may be even wider. From the perspective of incoming labour, this is not necessarily a disincentive since the cost of property, telecoms and travel are lower while the quality of life is excellent. Operating costs and sick leave absence run at lower levels too. Northern Ireland also enjoys an excellent historic record in industrial relations terms with strikes and associated activities a rarity. Public sector incentives are providing appropriate training and incoming companies can anticipate considerable support in up-skilling staff through the Training and Employment Agency.

In a world where the quality of the labour force is becoming ever more important, Northern Ireland excels. The workforce is younger than the rest of the UK with almost 60 per cent under the age of 40 and the exceptionally high standards in the education system provide a strong pool of available talent. Northern Ireland's schools boast a higher level of university entrance than anywhere else in the UK with over 60 per cent of school leavers achieving two A levels at grades A to C.