SDLP Economy Spokesperson Sinéad McLaughlin has today welcomed Invest NI’s commitment to promoting a more balanced approach to regional economic development across Northern Ireland, but warned that the North West must avail of high level investment.
Speaking after Invest NI appeared before the Economy Committee the Foyle MLA said: “I welcome Invest NI’s approach to achieving a more equitable regional balance and their target of reaching 65% of investments outside the Belfast Metropolitan Area.
2This is a positive step towards ensuring that all parts of the North can thrive and benefit from economic growth, job creation, and new opportunities.
“It is also important to note that Invest NI will not measure their target of 65% of investments by their monetary value but rather individual economic activity.
“This could be cause for concern if high level investments remain within the Belfast area whilst lower value investments take place outside of it.
“We must see every effort made to unlock the potential the North West has for growth, innovation and entrepreneurship.
“We need to see a concerted effort from Invest NI and other stakeholders to direct high-quality investment into our region which prioritises our key sectors, supports our local enterprises, and invests in infrastructure projects that will attract these high level investments to the area.
“I will continue to work closely with Invest NI as they engage with stakeholders and local councils to ensure that no community is left behind.
“There is no doubt that it has a central role to play in achieving regional economic balance, but cannot do it alone.
“I would also urge the Executive to adopt regional balance as a central objective across government in each department and I will continue to hold parties accountable on delivering on that priority.”
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