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18 Nov 2004 : Column 1763W—continued
Invest NI
Mr. McNamara: To ask the Secretary of State for Northern Ireland if he will list the contractual relationships with third party organisations which Invest NI inherited on its formation in 2002; what funds were allocated to each body; and what the nature was of the activities conducted by each organisation. [164944]
Mr. Gardiner: On its formation in April 2002, Invest NI inherited 90 existing relationships with third party organisations.
Details of these organisations, the nature of the activities conducted and the funding allocated in each case is contained in the following table.
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Lady Hermon: To ask the Secretary of State for Northern Ireland what progress has been made by Invest Northern Ireland towards meeting its job creation target for the current financial year. [197009]
Mr. Gardiner: Actual job creation is achieved through businesses employing more people and for this reason, Invest NI's Corporate Plan 2002–05 and its Public Service Agreement targets do not include specific job creation targets. There are, however, targets for a range of other objectives, including the number of new business starts, business development projects, and new inward investment projects secured.
Not all investments involve potential new jobs, but where they do, Invest NI practice is to refer to jobs promoted as such job numbers can be quantified at the negotiation stage as being an anticipated requirement of the project. Since negotiations with companies are
18 Nov 2004 : Column 1766W
ongoing throughout the year, it is not Invest NI's practice to report progress on an in-year basis although comprehensive performance figures are provided at the end of each financial year. However, in relation specifically to those projects which have been publicly announced during the year to date, 311 new jobs have been promoted, representing total investment of over £4 million.
Inward Investors (Limavady)
Mr. Gregory Campbell: To ask the Secretary of State for Northern Ireland what progress has been made in attracting inward investors to the Limavady area in Northern Ireland in the last 12 months. [193642]
Mr. Gardiner: I refer the hon. Gentleman to earlier answers I provided to him on 12 October 2004, Official Report, column 232W, 16 June 2004, Official Report, column 965W, 8 June 2004, Official Report, column 349W and 28 April 2004, Official Report, column 1128W on this and closely-related subjects.
Invest NI continues to focus its sales and marketing efforts on aggressively promoting Northern Ireland as an attractive and viable location for inward investment opportunities. It is difficult to predict in advance the nature of new projects and the needs of those promoting such projects, but the type of projects likely to locate in the north west will tend to be from those sectors where there are obvious clusters and strengths, such as ICT and call centres.
Working with existing overseas investors in a region is a key function of Invest NI, and I am encouraged by the reinvestment earlier this year at Limavady by Huco Lightronic of Germany, promoting an additional 24 jobs.
Invest NI has a target of 150 inward visits by potential investors during the current financial year ending 31 March 2005. While Invest NI encourages project promoters to visit as many potential locations as possible in all council areas of Northern Ireland, each visit programme is designed to meet investor requirements. When appropriate, the Limavady area will be included.
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