Northern Ireland falling behind on investment zones as Glasgow and Aberdeen areas greenlit, warns Derry MLA

Investment Zones are designed to encourage investment and raise skill levels through economic incentives. Each Scottish partnership area will benefit from overall funding of £80m.

Speaking after an announcement on Friday of approval for new investment zones in Scotland, Derry MLA Ms. McLaughlin said: “As Scotland announces two Investment Zones in the Glasgow City Region and the North East of the country, it’s deeply frustrating that Northern Ireland is still no further ahead in securing our own Investment Zone sites.

“Each of these areas was selected because of an assessment of their economic need and potential. There is no doubt that any sensible similar assessment in Northern Ireland would recommend that the North West’s economy demands a similar zone to be established in our region, with Derry as its capital.

"In our city, we are uniquely positioned to take advantage of the economic incentives that Investment Zones offer, due in part to our existing research strengths in priority sectors as well as the competitive advantage offered by the Windsor Framework.”

Ms McLaughlin added: “If, as the British Government has indicated, this is an example of what can be achieved when there is a focus on delivering economic growth, then the lack of progress here in the North can be seen as an indictment of the consequence of political failure, neglect and boycott politics.

“We can’t afford to keep falling behind if we are to properly deal with our stubbornly high levels of economic inactivity, low productivity and stagnant employment. The DUP must end their boycott and allow progress to be made on this, and so many other issues.”

The tax incentives and funding that are being made available by the UK and Scottish governments will ‘attract investment, improve skills, provide specialist business support and improve local infrastructure’, the UK government said.

Investment Zones are focused around research institutions such as universities. They focus on driving growth in priority sectors including technology, the creative industries, life sciences, advanced manufacturing and the green sector and aim to increase opportunities for local communities and driving productivity growth.

The locations of Glasgow City Region and North East of Scotland have been selected jointly by the UK Government and Scottish Government based on their research strengths, an assessment of economic need and potential, and a consideration of geographic spread.

Secretary of State for Scotland, Alister Jack, said: “This is exciting news for Glasgow and Aberdeen - the establishment of two Investment Zones in these areas will enhance their existing strengths, helping to attract investment, grow our economy and create jobs in priority sectors. This will build upon the great progress already being seen with the Freeports we announced earlier this year in Inverness and Cromarty Firth and the Firth of Forth."