Debate contribution: Investment Strategy for Northern Ireland

Debate contribution by Mr Timothy Gaston on 14 October 2025.

MLA

Mr Timothy Gaston

Party at the time

Traditional Unionist Voice

Date

14 October 2025

Type

Debate contribution

Business

Opposition Business

Heading

Investment Strategy for Northern Ireland

Assembly identifier

Official Report component 5180608

Read the official Assembly record

Text

There certainly have been abject failures of investment by the Executive, not least the £17 million that has been wasted to date on Casement Park, a project that was flawed from the beginning. However, there is much more to examine and make right when it comes to investment in Northern Ireland. The recent Invest Northern Ireland performance report for the past five years showed a huge imbalance in funding across Northern Ireland council areas, with Mid and East Antrim Borough Council, which is in my constituency, being one of the most underfunded. Areas such as Belfast City Council, Mid Ulster District Council, Armagh City, Banbridge and Craigavon Borough Council and Newry, Mourne and Down District Council, however, all secured high investment. That approach concentrates opportunities and stifles innovation in underfunded areas. Such areas face significant barriers, such as limited access to grants, weaker infrastructure support and fewer networking prospects. Part of the reason for an imbalance in Invest NI's funding is that there are fewer companies in areas such as Mid and East Antrim applying for funding. So much more needs to be done to highlight to companies and entrepreneurs the opportunities available to them. Much more needs to be done to encourage companies to look at expanding their exporting capabilities. I recently asked the Economy Minister how the imbalance in Invest NI funding is to be addressed. She replied:

"Invest NI is implementing a new regional approach that is increasing its capacity and capability across all areas",

but how will that redress the current imbalance? I also asked the Minister for the Economy to detail what metrics Invest NI uses to actively seek out businesses and identify them for support. I received the following answer:

"Invest NI has set a target to support 450 ‘New to Invest NI’ businesses to implement productive investment projects, over the course of its 3-year business strategy period."

That does not answer the question, much less confirm that regional disparity will be addressed or what specifics Invest NI is looking for in businesses that will increase their chances of being funded. We have much to celebrate in North Antrim. Our companies generate billions of pounds in sales and hundreds of millions in exports. Invest NI's Ambition to Grow programme, which supports micro-, small and medium-sized companies to create new jobs and look outside Northern Ireland for sales, has had some positive results. Ambition to Grow has originated 25 new investments, with the chance to create 71 new jobs and generate £7 million in the Mid and East Antrim Borough Council area, but the massive imbalance remains, and, without addressing that disparity, Northern Ireland's collective potential remains suppressed.

443 words. Text as published by the Northern Ireland Assembly.

Assessment

Not flagged

Jev’s structured answers

Assessed 21 October 2026 at 13:35 UTC by jev-1.13.0 (requested as typesafe/jev) under rubric 2026.10-r9, methodology 1.9.

Disagree with this assessment?

Classifications can be challenged. A person reads every challenge, and any change is recorded publicly above with its reason.

Challenge this classification