People & Affordability

Affordability

Mid and East Antrim boasts some of the lowest operating costs in the UK, making it an attractive destination for businesses. Key points include:

• The average weekly wage in the area is approximately £485, one of the lowest in the UK.
• Operating costs in Mid and East Antrim are typically 20%-30% lower than in other parts of the UK and Europe.

As Suren Gupta, Executive Vice President of Technology and Operations at Allstate, noted, “Every time we open our doors to work every day in Northern Ireland we save half a million dollars, and that is something that we don’t take lightly.”

Northern Ireland also offers a favorable tax environment:

• It has the lowest overall tax burden among major European economies,
• There is low personal taxation, low social welfare contributions, and generous tax allowances.
• There are no local taxes on profits or surpluses.

Investors can take advantage of several incentives, including:

• A corporation tax rate of 19%, among the lowest in Europe.
• Businesses with fewer than 250 employees can benefit from a 150% tax deduction on research and development (R&D) expenditures.

Productivity

The employment rate in Mid and East Antrim in 2021 is reported at 75%, an increase compared to the 74.2% figure from 2019. This translates to around 65,000 employed individuals in the region, further emphasising our robust labor market.

The workforce in Mid and East Antrim continues to demonstrate high productivity levels. The Gross Value Added (GVA) per head in the area has been recorded at £71,490, significantly exceeding the Northern Ireland average of £53,304​.

These improvements reflect ongoing efforts to strengthen the local economy and position the borough as a competitive area for business and investment.

Population

Mid and East Antrim has a total population of 138,994, with a young working-age demographic averaging 41 years. This youthful workforce contributes to the area’s economic potential and dynamism.

Education