256 new jobs to yield Â£6.5m in salaries

Pictured at the announcement by Alchemy Technology Services in the North West Regional College were, from left, Alastair Hamilton, CEO, Invest NI, John Harkin, Director and Founder of Alchemy, and Derek Anderson, Investment Manager, Invest NI. DER3718-160KM

The company’s founder, John Harkin, who has been based overseas for the last four decades, told the ‘Journal’ his native city was an easy choice of location for Alchemy’s new European Centre of Excellence, which will be based in the City Factory in Patrick Street.

“I thought it was the right thing to do. It would be great to see young people being able to remain close to their roots, in that family-oriented environment. It’s a great place for kids to grow up.”

Alchemy, which provides certified staff to the UK and European insurance sector, will create 256 jobs over the next three years with the first 80 of these expected to be filled over the next 12 months.

This, it’s estimated, will generate over £6.5million in annual salaries, which will average in the mid £20k range.

InvestNI has pledged £1,536,000 towards the project while the Department for the Economy is providing £800,000 in Assured Skills funding, bringing the total sum in state support to £2.3m.

The North West Regional College, meanwhile, will deliver a ‘Pre Employment Academy’ at its Business Support Centre on the Strand Road, which will provide training for the new roles.

Mr. Harkin said: “I’ve been visiting Derry a lot over the last year while we developed this process. I’ve met the students. The students are talented. They are enthusiastic and the great thing about them is they are not afraid to speak and ask questions.”