Invest NI charged with economic development

Invest Northern Ireland (Invest NI), the new single economic development agency with an annual budget of £200 million, has been launched by Chairman, Professor Fabian Monds and Chief Executive, Leslie Morrison.

Signalling the start of the new agency, both men said the organisation, which aims to help create a dynamic and prosperous economy, would, in time, be ranked with the best internationally.

Invest NI will also be pursuing a partnership strategy towards a common purpose of faster economic growth. It is hoped this will bring tangible benefits to all, from a stronger and knowledge-led economy driven by increasingly successful, export-focused companies and a renewed spirit of innovation and enterprise.

In their joint statement, Prof. Monds and Mr Morrison said: "This is an exciting time for all of us involved in shaping Invest NI to be a radically different economic body with its own dynamism and innovative spirit. We believe that a fresh and immensely challenging agenda has been set that will help to re-energise the Northern Ireland economy.

"Our clients and the wider Northern Ireland economy community are all stakeholders in the success of our province. This recognition has underpinned Invest NI's strategic priority to create an integrated organisation totally focused on its customers."

To achieve these aims Invest NI has been designed to be customer-facing, responsive and flexible and to operate in a way that facilitates partnership, communication, teamwork, creativity and the dissemination of knowledge.

They added: "Invest NI is starting from a solid base. Northern Ireland has a great many strengths including talented, well-educated people; a high-quality university system; growing, world-class research facilities and examples of highly successful homegrown business.

"In seeking to harness these assets Invest NI will work with partners in business, education, the universities, research organisation's, local economic development bodies and others in the private and public sectors to create a dynamic economy rooted in innovation and entrepreneurship."

On the day that Invest NI became active, the organisation's Corporate Plan was being finalised following extensive public consultation. The draft Corporate Plan for consultation was issued on February 11 and a series of public meetings were held to consider the plan across the province.

A dedicated website was also launched on April 1 which outlines Invest NI's role for the future.

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