Home to InterTradeIreland, Ireland's new cross-border business body, Newry continues to be an important focal point for the development of Ireland's all Island economy and a model of urban regeneration and inward investment. In 1972 the unemployment rate was 35% the highest in Europe. Today thanks to an innovative economic development culture, which was created in the mid seventies the unemployment rate stands at 6%.

Strategically situated to the south east of Northern Ireland and midway along the Belfast-Dublin economic corridor, Newry achieved city status in March 2002 by virtue of its success in a competition announced by the British Government to mark Queen Elizabeth's 50 years on the throne. While the award caused some discomfort for some of Newry's predominantly Irish nationalist population, the majority of its citizens see the award for what it really is - a promotional opportunity for further economic success, particularly in terms of attracting investment.

Newry boasts the highest number of business start-ups in Northern Ireland with £155 million sterling being invested since 1997. Newry is identified as second only to Belfast as a top retail location in Northern Ireland.

Newry Institute is a foremost educational establishment with 14,000 students and strong links to the University of Ulster. Plans are currently underway for the provision of a £2.5 million sterling technology and business incubation centre. Newry is an area where small businesses proliferate - around 2,100 - boosted by enterprise organisations such as Enterprise Newry Ltd and Newry and Mourne Enterprise Agency. International funding is actively being sought by the Newry-Pittsburgh, which promotes the area in the US, as a potential entry point for the European market.

In addition to excellent road and rail links, the District is also served by the modern port of Warrenpoint which has direct container and RO/RO services with the rest of the UK as well as freight services to European ports. Kilkeel Harbour is home to Northern Ireland's largest fishing fleet, generating revenue of some £1.5 million sterling per annum.