Invest NI 'fully committed' to working with Community Wealth Building Partnership on £50m investment plans for Larne
Larne Community Wealth Building Partnership has outlined innovation and growth plans for the area to representatives of Invest Northern Ireland.
Co-ordinated by LEDCOM and supported by the Department for the Economy, the Department for Communities and Mid and East Antrim Borough Council, the Larne Community Wealth Building Partnership (LCWBP) is driving a place-based economic model aimed at unlocking over £50 million in local development projects.
The initiative aims to ensure that wealth generated within the community is retained and reinvested locally.
During a visit to Larne by an Invest NI delegation, discussions focused on upcoming flagship projects including support for the life sciences/pharma cluster, developing the ‘Willowbank 2’ innovation hub, upgrading logistics and decarbonising the Port of Larne, and creating opportunities for a maritime green corridor route to and from the UK mainland.
"We were delighted meet with Invest NI to discuss the practical rollout of the Community Wealth Building pilot, which was supported by the Department for the Economy and Department for Communities.
"Having an agreed strategy between CWB anchor organisations, central government, local government, the social economy and high-growth manufacturers in sectors such as life sciences and photonics is vital.
“It ensures Larne continues to scale up its capability as a premier sub-regional cluster for life sciences, manufacturing, and logistics”, said Ken Nelson, CEO, LEDCOM and chair of LCWBP and David Hunter, programme director, LCWBP.
Invest NI CEO Kieran Donoghue met with LCWBP members and local companies including enterprise centre LEDCOM, Raptor Photonics, Larne Port, Larne Business Forum and leaders from the local pharmaceutical and life sciences sector.
Kieran said: “Our business strategy includes a focus on sustainable, inclusive, and balanced regional growth. Meeting with LEDCOM and the LCWBP members here in Larne to hear about their innovation and growth plans showcased the power of place-based economic development and how sub-regional strategies can create sustainable, high-quality employment.
"We are fully committed to working alongside our local client companies and local partners and stakeholders to drive greater business investment and increased productivity, which can transform growth prospects and raise living standards.”
Larne also recently played host to the IntertradeUK board whose role includes providing advice and facilitating businesses to expand activities and trade across the region.