SDLP Ballyarnett councillor Rory Farrell
The Ballyarnett representative gained unanimous council support for the proposal following revelations that Invest NI arranged 278 foreign investor visits to Belfast, and only six to Derry in the last financial year.
This followed on from a heated debate in February where Invest NI chiefs presented to the council on its performance and financial support for local businesses.
Invest NI is the organisation tasked with job creation and economic development across the North and is funded by the Department for the Economy.
Derry City & Strabane District Council has the highest rates of unemployment, youth unemployment, economic inactivity across the North. It also has the lowest wage levels across all eleven council areas.
Speaking at last week’s council meeting, Mr Farrell commented: “Invest NI directors attended last month’s Business & Culture meeting and they were duly challenged and scrutinised by members from across this chamber.
“We raised serious concerns about the promotion of Derry and Strabane and the performance of Invest NI across this council area.
“We questioned their commitment to this region and we were not impressed with their responses, at all.
“I asked how they would instil public confidence in people across this city and region that Invest NI had our best interests at heart.
“I asked how they would change their approach to improve job creation, reduce unemployment, reduce economic inactivity and increase wage levels.
“I asked what they would do to address regional imbalance.
“Their answers did not fill me with confidence, at all. I asked on two occasions about the number of inward investment visits. But, they didn’t answer or they couldn’t answer.”
Councillor Farrell continued: “Figures publicised by SDLP MLA Sinead McLaughlin demonstrate the Belfast-centric approach of Invest NI in relation to inward investment visits.
“Last year, Belfast had 278 visits while Derry had six. It’s a disgrace.
“But, we’re speaking about Invest NI. Invest NI does not determine its own policy, that is guided by the Department for the Economy and the minister.
“We are asking for a sub-regional strategy. We believe that areas with the most need require the most support. That the areas with the highest unemployment, highest inactivity and lowest wages need more support from government.
“We are asking that senior officials from the Department for the Economy, preferably the minister, come to Derry and listen to our arguments for improving the economic performance of this council area.
“The current policy of Invest NI and the department seems to be ‘what’s good for Belfast is good for the North’.
“We disagree.
“We need a policy that is good for Derry.
“A policy that creates jobs in the North West and actually encourages employers to invest in our region.”
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