Councillor claims Invest NI is an 'Invest anywhere but Derry' organisation.

At the January full council meeting a motion unanimously passed calling for an immediate review of Invest NI to be undertaken.

The motion also called for the delivery of sub regional Foreign Direct Investment (FDI) in the Derry and Strabane District area and the creation of an FDI Agency with its headquarters in Derry to ‘level up’ the Northern Ireland economy.

Sinn Féin councillor John McGowan brought forward the motion saying: “Invest NI has really failed to deliver for the north and in particular the Derry and Strabane area.

“It’s fair to say that it has failed to deliver, particularly FDI across the north and it has particularly failed to deliver for the Derry and Strabane council area. It has also failed to deliver for most SMEs (Small and mid-size enterprises) throughout the north.

“One of the other things it has ignored are social enterprises which have now found much of their support coming from the Department for Communities.

“It has 500 plus staff based in Belfast and just 12 in the Derry and Strabane council area. There’s no local staff who can deal with tourism or FDI and there's no client executives that deals with large companies - it’s not a regional office."

He continued: “The model is broken, it doesn’t work, it has failed and it has failed for many reasons. You only have to look across the border at IDA which last year published that over 70% of all investment went outside Dublin and you look at the success of Enterprise Ireland.

“I’m looking for real sub-regional development, not what we currently have. I’m asking that we site the FDI headquarters in the event of any reorganisation, that we have the confidence and ambition to site that here in the Derry and Strabane council area as I believe that it will be one of the greatest things that we can do to level up.”

Supporting the motion SDLP councillor Rory Farrell added: “I have said this time and time again since I have come into council about how ineffective Invest NI have been in terms of promoting jobs in the north west.

“It’s abundantly clear and abundantly apparent that Invest NI works for Belfast and fails miserably for Derry and this city and district.

“It attracts jobs, opportunities and investment to Belfast and very little of anything to our city and we have said for two years that Invest NI must have regional targets and a key focus on investment and jobs in the north west.

“We have invited the Economy Minister repeatedly to discuss these proposals and it must be remembered that the Economy Minister has complete control over Invest NI policy."

Councillor Farrell then proposed an amendment that council seek a meeting with Sir Michael Lyons, Chair of the Independent Review Panel of Invest NI so they can make the argument for fundamental reform of Invest NI.

Stating that Invest NI has ‘failed the people of Derry and Strabane district and the whole north west’ People Before Profit councillor Shaun Harkin said: “No matter how many appeals we have made it has always fallen on deaf ears because the strategy never seems to change."

Agreeing that more needs to be done in terms of investment in the council area, DUP Alderman Maurice Devenney said it was ‘something that needs to be addressed’.

He added: “It was only last week Invest NI invested nearly £2 million in the Ebrington Square venture and those small mercies have to be welcomed. Is it enough? I don’t believe it is and I believe we should be doing all we can to have more investment and protect our businesses and jobs here in the north west and that’s including Londonderry and Strabane.

Happy to support the original motion and amendment UUP Alderman Ryan McCready said he felt the north west ‘have got the scraps off the table from Belfast with regards to Invest NI’.

UUP Alderman Derek Hussey added his voice saying: “It’s a common cry and we are all singing from the same hymn book on this particular issue.”

With all parties in agreement the substantive motion passed unanimously.