David Simpson MP has assessed the likely impact following changes to regional aid, and is renewing calls to devolve Corporation Tax to the Northern Ireland Executive.
As of July 1, 2014, companies based in Northern Ireland employing more than 250 people may no longer be recipients of public money to expand projects that involve the same activities at the same premises.
Mr Simpson said: “Northern Ireland will face a much more challenging landscape as a direct result of these changes.
“These changes to regional aid will undoubtedly renew our calls to have corporation tax devolved to the Northern Ireland Executive, in the hope that businesses may be assessed at the lower rates for 2015/16.
“Devolving corporation tax to Northern Ireland could greatly increase job opportunities as Northern Ireland will be a far more attractive country to invest in.
“With Upper Bann being seen by many as an ‘enterprise hub’, this prospect should be appealing news to local business leaders.”