Mixed Derry reaction to Invest NI's new Action Plan

There has been a mixed local reaction to Invest NI's new Action Plan.

Stormont’s business support agency is to shift focus from job creation to overall productivity in the economy following the findings of an independent review earlier this year.

The Department for the Economy (DfE) has published an action plan in response to the review of Invest Northern Ireland.

The review in January said research suggested it was having “little, if any” impact in increasing productivity in Northern Ireland.

The review panel also raised serious concerns about “damaged” relationships at the senior leadership level of the organisation, particular in the dynamic between the board and executives.

Mike Brennan, Permanent Secretary at the department, said the review had challenged Invest NI to “completely reshape how economic policies are developed and implemented going forward”.

Colm McKenna, Invest NI’s interim chairman, said: “This action plan is a clear commitment for change by Invest NI and DfE and we understand that its delivery will require changes to our leadership, structure, operations, culture and strategy.

“We do not underestimate the challenge ahead to ensure we fulfil everything we have committed to.

“We have already made good progress in the eight months since the publication of the review and have taken immediate action in several areas while we also carried out the detailed scoping work on the more challenging recommendations.

“Previously the targets we were given were heavily focused on job creation but starting now, our customer is the wider Northern Ireland economy.

“Our focus will now pivot from supporting job creation to delivery of 10x and city and growth deals in order to raise the overall level of productivity in our economy.

“This includes a commitment to strengthening our regional impact and ensuring Invest NI is equipped to deliver the department’s 10x policy priorities of innovation, sustainability and inclusivity to ensure we deliver a high-performing Northern Ireland economy.”

SDLP Economy Spokesperson Sinéad McLaughlin MLA has said the Invest NI Action Plan must deliver for the North West and other neglected parts of the North.

“I am deeply concerned by the almost complete lack of any specific mention of the North-West in this plan and feel that the actions detailed would fall short of the change that is needed to restore the confidence of the people here.

“It is not enough to include Derry as simply one of the sub-regions of the North. We are this region’s second city and we need specific and targeted interventions that are commensurate with that status.

“I will be writing to the department to urge explicit commitments to be made going forward, including specific and ambitious targets for Derry, as well as a decentralisation of senior staff to our city.”

Ms McLaughlin said more detail is needed on how the actions will deliver specific and targeted interventions for the areas that need it most.

“Although Invest NI’s role is vital, the next Minister for the Economy must also assume strong accountability for setting the conditions that are necessary for Invest NI to succeed at attracting jobs and investment to Derry.

“This must include reversing the economic neglect of our city, most notably when it comes to our higher education provision by expanding university places here to at least 10,000 as secured by the SDLP during the New Decade, New Approach negotiations.”

Selina Horshi, President of the Londonderry Chamber said the publication of the Action Plan by Invest NI  is a welcome step in response to what was a concerning report.

“Derry Chamber has always been clear that it wants to see a more balanced regional economy and a shift in focus so that our region feels the benefit of more support for indigenous start-ups and greater inward investment.

“The commitment to increased resources for sub-regional offices like Derry is important, as well as the development of economic targets at a sub-regional level. It is crucial that targets are clear so they can be measured. We await the publication of a Sub-Regional Economic Plan with keen interest.

“There is no shortage of energy and enthusiasm among businesses in the North West and the Chamber is keen to work in partnership with Invest NI to drive forward new targets that generate prosperity, economic growth and better regional balance.”