The Quinn Group was set up by local man Sean Quinn 30 years

The announcement was made by the insurance company, Quinn Direct.

The firm announced its plans to build a new �8m centre in Enniskillen on Wednesday.

It said it expects to employ about 350 people by 2006.

The company has been operating out of temporary premises just outside the town since January this year and employs about 40 people at present.

The announcement was welcomed by Northern Ireland Office minister Ian Pearson.

He said the news was a "tremendously important development for Enniskillen" which would make a "valuable economic contribution to the area".

The investment represents a further and very substantial endorsement of the county as an attractive business location Minister Ian Pearson

The investment is backed with �2.1m of grants from Invest Northern Ireland.

Mr Pearson, the minister responsible for Enterprise, Trade and Investment, said Quinn Direct would be putting in place a leading edge e-commerce capability.

The move supported efforts by Invest NI and councils to diversify the economy and promote knowledge-led industries, including internet-focused activities, he said.

"The investment, which will offer a large number of people in the area the opportunity to apply for jobs and acquire transferable skills, represents a further and very substantial endorsement of the county as an attractive business location," he said.

'Much-needed boost'

Group chief executive Sean Quinn said the objective of the project was to increase the company share of the market.

"We have invested heavily in business processes which allows us to minimise costs and make us very competitive," he said.

Sean Quinn: "We have invested heavily in business processes"

"This approach has been the critical driver of growth in the business."

The SDLP's Fermanagh-South Tyrone assembly member Tommy Gallagher said it was a much-needed boost.

"This is wonderful news for County Fermanagh and these new jobs will provide a great boost for career prospects in our area," he said.

"The Quinn Group has played an important part in Fermanagh's infrastructure and has an excellent history for employment."

Quinn Direct is part of the Quinn Group, set up by local man Sean Quinn 30 years ago.