29/08/2008

Targets Achieved Says Invest NI

Invest NI has met or exceeded substantially all of its targets, and continues to witness high levels of interest in the 'product offerings' and its range of support programmes.

According to the 2007-08 'Invest NI Annual Report and Accounts for Invest Northern Ireland' published this week, "Invest NI continued to deliver".

Stephen Kingon, Chairman of Invest NI, said: "Invest NI continued to deliver high private-sector investment commitments to strong projects, as our clients displayed increasing ambition to achieve the scale necessary to compete effectively in global markets, despite some challenging economic conditions."

Outgoing Chief Executive of Invest NI Leslie Morrison, said: "The results presented in this report reflect not only increasing ambition on the part of our clients, but also increasing proactivity by Invest NI.
News Image
"Overall, we have met or exceeded substantially all of our Operating Plan targets, and continue to witness high levels of interest in our product offerings and range of support programmes.

"Each £1 we offered last year to support our clients' growth ambitions, will result in £6 of planned investment and our activities have levered a total of £689 million of investment commitments by our clients.

"As has historically been so, the majority of our offers were to locally-owned small and medium-sized businesses, either existing or new starts," said the agency boss, who retires next year.

"It is clear that, in the current weakening economic cycle, there will be challenges ahead for many of our clients.

"To ensure that they are best placed to respond, we are preparing a number of actions and new initiatives, to assist our clients, particularly SMEs, to increase their competitiveness and identify new opportunities," he concluded.

(BMcC)

Related Northern Ireland News Stories
Click here for the latest headlines.

21 September 2021
Ulster Bank Offers New £150 Switch And Save Reward
Ulster Bank has announced the launch of its new Ulster Select account, offering a £150 Switch and Save reward for new and existing customers.
17 September 2021
New Lagan Gateway Bridge Opens
A new pedestrian and cyclist bridge connecting Lagan Towpath to Annadale Embankment at Stranmillis in Belfast has opened. The 83-metre bridge is one of the key elements of the £5.2 million Lagan Gateway project.
16 September 2021
Alliance Welcomes Announcement Of New Booster Vaccine
Alliance Health spokesperson Paula Bradshaw has welcomed the announcement of a new booster vaccine. The Joint Committee on Vaccination and Immunisation has advised booster vaccines should be offered to those more at risk from serious disease, and who were vaccinated during phase one of the vaccine programme.
01 September 2021
Ulster Bank Announces New 'Green Re-Mortgage'
Ulster Bank has announced the launch of a new 'green re-mortgage' product, offering a preferential interest rate to new or existing customers who are looking to re-mortgage an energy efficient property. The new product will offer a discounted interest rate to customers re-mortgaging a property with an Energy Efficiency Rating of A or B.
01 September 2021
120 New Manufacturing Jobs Announced In Belfast
One hundred and twenty new jobs are to be created by Australian manufacturing firm, Tribe Technology. Based in Perth, Australia, Tribe Technology designs, manufactures and sells Autonomous drill rigs to the minerals industry. It is opening a new design and manufacturing facility at Enterprise Way Mallusk.