£216m in inward investment over the past five years

INVEST NI approved projects resulted in £216m in inward investment in Londonderry over the past five years - the second highest total in Northern Ireland but a mere fraction of the capital pumped into Belfast (£1,237).

Trade Minister Arlene Foster revealed inward investment here during the period peaked at 94.86m in 2005/6, dipped to 26.91m in 2006/7, rose to 41.38m in 2007/8, fell to a low of 2.13m in 2008/9, before rising again to 51.26 last year.

She was asked by way of an Assembly Question to detail the amount of inward investment attracted to each constituency in each of the last five years.

She revealed the figures for Londonderry stating: "These projects have been assisted under a number of Invest NI schemes aimed at both employment creation and other business development activities, such as R&D, training, trade activities and technology and process development.

"Whilst not directly related to job creation these capability development activities will underpin business competitiveness leading eventually to growth and employment opportunities.

"The Total Planned Investment represents the expected cost of the projects to externally-owned businesses and includes Invest NI's financial support.

"It reflects an intention to invest in the future and although the vast majority of projects are implemented, some may not proceed as planned.

"Payments in respect of these offers may be made over a number of years from when the offer was approved."