Huge bank of idle space ‘anindictment’

Mr Eastwood said the Department of Enterprise, Trade and Investment (DETINI) and Invest NI need to drastically up their game on the inward investment front.

He said opportunities for investment were available despite the economic climate as demonstrated in the Irish Republic where last year when the Industrial Development Authority (IDA) enjoyed its best year in a decade attracting Foreign Direct Investment (FDI).

“Every square foot of this empty industrial space is a lost opportunity to bring investment and jobs to Derry. It is equally a testament to jobs lost but never replaced,” he said.

“The record of both DETI along with Invest NI has done little to help. As I discovered some time ago, Invest NI in 2010/11 financial year offered only 2.4 per cent of its total monetary assistance to businesses located in the Derry area.

“Equally Stormont’s leadership have failed in setting an example for regional equality. Less than 5 per cent of the civil service population is located in Derry. Not 1 civil servant from DETI is located here,” he added.

The Foyle MLA extolled the example of Invest NI’s sister agency in ROI, the IDA, which in 2011 had its best year in a decade attracting FDI.

“If hope is to be offered to the people of Derry and the North West, a clear priority must be applied to gaining high end employment in this area’

“A first step would be to gain a reduction in corporation tax. The distribution of the benefits gained from this must however be applied on the basis of regional equality,” he said.

The Sentinel recently reported how Invest NI continues to hold 105 acres of land - four times the area of the Walled City - for businesses with an immediate “demonstrable property need” in Londonderry but there have been no takers since last summer

The landbank is the largest held by the local industrial development agency in any council area bar Craigavon, where it holds 177.70 acres.