stimulating investment commitments

The Chief Executive of Northern Ireland’s economic development body, Invest NI, Leslie Morrison seems pleased with the performance of the publicly funded organisation in 2005/6, and also claims to have been “supporting the creation of more than nine new businesses every day”. The agency’s chairman, Stephen Kingon, has also called for a larger budget to continue along the same lines presumably.. well, I suppose I did ask.According to Invest NI –

Key Operational highlights for year ended 31 March 2006

•Over 1,500 offers of support to businesses totalling £129m, which will result in £560m of investment in the local economy;

•Approx £20m of support offered towards increased investment in Research & Development;

•Over 300 locally-owned clients will invest almost £103m in expansion and development – investments which will generate a further £65m annually in salaries;

•Externally owned companies committed to 31 new projects, promoting or safeguarding almost 6,500 jobs and generating approximately £130m annually in salaries;

•3,475 new businesses supported, which are anticipated to create some 5,000 new jobs.

And in an area that commenters in a previous thread suggested more should be done –

Northern Ireland is establishing an image of social stability with a healthy supply of well-educated, committed, English-speaking people, situated in the best commercial timezone. It is critical that this perception be maintained in a global environment where competition for internationally mobile investment is increasing. As a result of our engagement, a number of our clients are repositioned as Research & Development centres for their multinational parents, making Northern Ireland a prime location for knowledge-intensive projects and contributing to the continued upskilling of the Northern Ireland labour force. We are in a good place to create and safeguard intellectual property, and must continue to focus on skills and innovation as the rationale for investment, as distinct from merely cost.

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  • Ha- what a laugh! Do they seriously expect intellegent people to belive these hyped and over inflated figures for business creation and jobs. Talk to the people in the Pru.
    Whats the stability of a call center job in a global economy competing for cheap labour? answer= not much. I’ve seen this all first hand havin worked the this so called economic development agency.

    The most digusting thing IMO, is the salaries that many of these paper pushers earn (30k+), with no concept of reality for the people they are supposed to serve. Especially the ones at the top who tout vague figures around, couldnt hack it in the private sector, have very mucky fingers and are only really interested in ticking the right boxes and covering their well subsudised asses.
    But what do you expect from a load of neo-socialists trying the make a go of it in a very capitalist world.
    Cut the crap and let the REAL VC’s do the job!