53 credible FDI investments and 2,136 jobs

FIFTY-THREE visits by credible foreign investors were promoted by Invest NI in Londonderry since 2004; during the same period the state investment vehicle supported 15 foreign direct investment (FDI) projects and 2,136 jobs here.
By The Newsroom
Published 3rd Jan 2011, 15:10 BST

Investment Minister Arlene Foster revealed the information in response to an Assembly Question explaining: "A credible visit is one where Invest NI can claim to have promoted a district council or parliamentary constituency area by bringing a potential investor into that area."

In relation to the number of visits which have resulted in job creation she explained: "It is not possible to align individual visits with specific employment related FDI projects.

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"A company may visit a number of times before making the decision to invest, in which case it could be said that each visit has resulted in job promotion.

"On the other hand, a company may visit once, make an initial investment and then follow this up with further investment. In this case the one visit would have resulted in more than one investment project."

She added: "It should be noted that the decision to invest is the end point of an extensive process which can span 18-24 months, or in some cases longer.

"For this reason it is not possible to align the number of inward visits in a given year to the jobs promoted in that same year."

Related topics:Invest NIArlene Foster