A NEWRY-based data analytics firm has announced plans to create 39 jobs as part of a £4.8million expansion.
ISx4 creates insights for businesses and organizations using data science, artificial intelligence and machine learning.
Its customers include the European Space Agency, HSBC and its Newry neighbor FD Technologies.
The company’s services are also used by elite sports teams, including the Irish Olympic team.
The new jobs will attract an average salary of around £51,000 a year, with nine people already recruited.
Invest NI, which has offered the company around £420,000 in support, said the jobs will eventually generate around £2million a year in annual wages.
ISx4 chief executive Kielty Hughes said the company helps its customers use data to move from “hindsight to foresight.”
He said: “By investing significantly in cloud technologies, we are now delivering exciting real-time solutions in a variety of areas, from strategic environmental security to elite sports organisations, such as the Irish Olympic team.
“We help our clients achieve their goals and influence their own business outcomes, through the use of advanced data analytics and the modeling of their own data.
“ISx4 has a strategic goal to provide high-tech data science services to the global economy, using local talent to grow our team.”
The economic support agency’s chief technology officer, George McKinney, said the organization has been working with ISx4 since 2020.
“It’s great to be able to help a local start-up recognize its growth potential and take the next steps to get there,” he said.
“The company is already hiring at a brisk pace, rapidly expanding its business to execute on its strategy, while its investment in skills will increase the core capabilities of the team so they can build on the success they are experiencing. ‘She’s gotten to date all over Europe.’
Mark Bleakney, Invest NI Southern Regional Director, added: “ISx4’s investment is welcome news for the Newry, Morne and Down District Council region.
“Our support in helping the company develop a new business plan has enabled them to invest strategically in expanding their team in Newry.
“With competitive wages, the jobs will bring £2million in additional annual wages to the local economy once everything is in place.”