Londonderry Chamber calls for Invest NI to ensure 50% of all new jobs go to the north west region

The Chamber of Commerce in Londonderry has said Invest Northern Ireland should target to ensure that 50% of foreign direct investment jobs and 50% of total Northern Ireland job creation is situated in the north west city region.

In its official response to the Independent Review of Invest NI, which was published earlier this year, the Chamber has also urged the organisation to provide a fully resourced and staffed office in Londonderry to expand the provision of quality business support services for local businesses and start-ups.

The Independent Review of Invest NI, which was chaired by Sir Michael Lyons and published in early January, found that “Invest NI regional offices should have a more strategic role and staff, resources and powers allocated to them should be reviewed.”

The Chamber has made five key recommendations to be considered, implemented, and delivered over the next five years by Invest NI. As well as the two on job creation, it also called for a fully resourced office in Londonderry to expand the provision of quality business support services for indigenous businesses and for more senior FDI and sectoral staff to be located in the Londonderry office.

In its fifth recommendation it states: “Given the unique cross border nature of the north west city region, that there is a collaborative approach/strategy developed for FDI in our region with ROI agencies such as IDA.”

The Chamber has written to the senior leadership at Invest NI as well as the Permanent Secretary in the Department for the Economy outlining these recommendations and requesting an update on the implementation of the independent report’s recommendations.

In a statement, Chamber president Selina Horshi, said: “The Independent Review of Invest NI revealed some deeply concerning findings, impacting its ability to attract inward investment and support indigenous start-ups. We welcomed the report’s acknowledgment that more should be done to promote NI on a sub-regional basis and to strengthen and bolster sub-regional Invest NI offices and we were pleased that one of the review’s key findings is that the agency must be a better partner on a sub-regional level.

“The recommendations we have set out follow deep consultation with members, Derry City and Strabane District Council, local businesses, and our board of directors. If implemented, they will ensure that Invest NI properly prioritises the north west, bringing the jobs and investment to our region which will deliver prosperity, economic growth, and regional balance. These are workable and practical objectives which will really deliver for our business community and we will work closely with Invest NI and the Department for the Economy to make them a reality.”

Selina Horshi said Invest NI still has a vital role to play in both attracting investment from around the world as well as supporting ‘our own local start-ups’. “However, to ensure fair and equitable delivery for the north west, the organisation must enhance its commitment to our region and improve on how it has done things in the past,” the Chamber of Commerce president added.