To ask the Minister for the Economy to detail the efforts, facilitated by Invest NI, to encourage investment in East Londonderry.

Partnership Working & Delivery

More so than ever the importance of strong partnership working to encourage investment in the region, indigenous or international, cannot be understated. This includes Invest NI, Causeway Chamber, Council, University, Regional Colleges, and all other relevant stakeholders in the area.

Invest NI’s North West Regional Office has been actively working with the key economic development stakeholders in the area. An Economic Advisory Group has been set up as an action from the Community Plan to develop and deliver strategic projects through a collaborative approach. Operationally, a partnership plan has been agreed, with monthly partnership meetings to steer delivery.

Key areas of focus include post COVID recovery/rebuild, Entrepreneurship, New Exporters, Innovation, & Skills.

A specific partnership initiative to encourage local businesses to consider exporting for the first time was recently completed; locally branded “Causeway Exporters” and under the theme ‘The Export Journey’, six monthly webinars were delivered between September ’21 & February ’22 with support from Invest NI’s Export Division. Causeway Chamber of Commerce led on this initiative. Other partners included Causeway & Roe Valley Enterprise Agencies, Ulster University, both Regional Colleges, and the local Council. In addition to the monthly webinars, 1:1 follow on support was provided to 52 local businesses.

Similar partnership initiatives are in progress in the area to encourage higher levels of innovation amongst local businesses as well as the promotion of self-employment as a career option.

Growth Deal

Announced in July 2019 by the government, £300m ‘Growth Deal’ funding will be shared across Scotland, Wales, and Northern Ireland. The government outlined that the funding for Northern Ireland would support ‘Growth Deals’ in Mid-South West Northern Ireland and the Causeway Coast and Glens area.

Circa £36m has been made available from central government for the CC&GC area for projects focused on Innovation, with match funding of same expected from NI Executive for enabling infrastructure projects. Invest NI has put dedicated resource in place to support the Council who are overseeing the delivery of the ‘Causeway Deal’.

Following extensive consultation, a short list of investment projects has recently been completed by the Council; of particular interest to Invest NI are; the proposed Centre for Drug Discovery at the Ulster University campus; Innovation Hub proposal at the designated Enterprise Zone; as well as the NW Regional Colleges proposed ‘Foodovation’ proposal at their Limavady campus.

Investment in the last five years

Invest NI provided support to businesses, which will lead to the creation of 793 new jobs within East Londonderry Parliamentary Constituency. Jobs arising from these projects being created over the next 3 to 5 years, and will result in an increase in annual salaries of £17.72m.

Invest NI supported these businesses with £6.52m of employment-related assistance which will leverage a total investment of £45.32m. In addition, Invest NI provided 490 offers of other developmental assistance to businesses, totalling £7.31m, to accelerate their further growth including financial assistance for research and development, skills development and to support the promotion of products and services made in the East Londonderry constituency in overseas markets.