Minister bids farewell to economic agencies

Sir Reg Empey, Minister for Enterprise, Trade and Investment, has thanked the board members and staff of his Department’s agencies, which are set to become part of Invest Northern Ireland next week.

During visits to the Headquarters of IDB, IRTU and LEDU, the Minister personally thanked staff and acknowledged the role of the agencies in supporting Northern Ireland’s business community over the years.

He said: “As the countdown to Invest Northern Ireland gets underway, we must not forget the valuable contributions which IDB, LEDU and IRTU have made to economic development in Northern Ireland.

“It is important to reflect, particularly at this period of change, how the agencies dealt with the economic challenges, particularly through Northern Ireland’s troubled history and the many obstacles which they had to overcome to support the development of the Northern Ireland economy.

“LEDU, which was set up in 1971, had modest beginnings and in its early days focused on the development of a rural economy and craft sector. Thirty years on, the Agency has overseen more than £500 million investment into small business and has supported the creation of more than 50,000 jobs.

“LEDU has also had a key role in the emergence of the local enterprise movement, in facilitating local partnerships, and creating an infrastructure of support for enterprising individuals and companies.”

The Minister also highlighted the role of IDB, in particular in selling Northern Ireland as an investment location, over the past 20 years. He added: “IDB was set up when there were significant levels of civil unrest and violence and when unemployment was at its highest. The agency’s staff have worked consistently to sell Northern Ireland across the world, while also encouraging our indigenous industries to invest for the future, to improve their competitive position and to seek out new export markets for their goods and services.”

IRTU, the youngest of the agencies, was set up 10 years ago, in 1992. He said: “In relation to its objective of promoting R&D, IRTU’s achievements since 1992 have been very encouraging. The number of companies now investing more than £1million annually in R&D has risen dramatically. Spin out companies and incubation facilities have flourished and the Northern Ireland Science Park has been established."

The Minister concluded by saying that Northern Ireland’s economy had come a long way in recent years and he wanted to place on record his personal tribute to everyone who had been involved in helping local business ‘to raise its game’ to a position where Northern Ireland could now compete on equal terms with other international economies. (MB)