New Northern Ireland capital investment scheme to boost industry growth

A new Northern Ireland capital investment support scheme has been welcomed by food and drink industry leaders.

Launched today (Tuesday) by the Economy Minister Conor Murphy and Invest NI, the Agri-Food Investment initiative aims to enhance the economic performance and competitiveness of the food and drink sector locally through financial support for transformative capital investment.

Open to food and drink processors of all sizes in Northern Ireland, the scheme will support businesses with investments that will bring productivity gains, support capacity building and innovation, and improve the competitiveness of the agri-food industry.

Welcoming the scheme, Michael Bell OBE, executive director at the Northern Ireland Food and Drink Association (NIFDA), said: “Our industry in Northern Ireland punches well above its weight.

"We feed some 10 million people worldwide, across the supply chain we support some 113,000 jobs and we are Northern Ireland’s biggest manufacturing sector. Our food and drink companies are world renowned for quality, innovation and commercial success. But we can do so much more given the tools to succeed.

“Targeted investment in food and drink processing will enhance sustainability, encourage further innovation, boost productivity and modernise the industry.

"Over the past number of years NIFDA has been making the case that firms in Northern Ireland have faced a competitive disadvantage, with competitors benefiting from capital investment schemes in other regions on these islands.

“The launch of the Agri-Food Investment Initiative will support transformative projects that have the potential to take Northern Ireland food and drink to the next level. It is good news for our industry and will see us strengthen our world class reputation for innovation and sustainability.”