Invest Northern Ireland
Invest Northern Ireland (Invest NI) is the regional economic development agency for Northern Ireland. As a non-departmental public body (NDPB) of the Department for the Economy, its primary focus is to support the business community by providing high-quality services, programs, and advice. The aim is to help businesses operate efficiently and compete successfully on both local and international stages.
Mission and Activities
Invest NI's mission revolves around stimulating economic growth and enriching the business environment of Northern Ireland. This involves offering assistance that empowers businesses to expand, innovate, and attract international investment. The agency provides financial support, consultancy services, and guidance on accessing global markets.
One of its significant roles is to enhance the region's agri-food sector by supporting transformative capital investments. This support is crucial for businesses that aim to boost their efficiency and market competitiveness. Additionally, Invest NI plays a pivotal role in tapping into Northern Ireland's potential as a strategic location for business expansion and sourcing world-leading products and services.
Historical Background
Invest Northern Ireland was established in 2002, succeeding the Industrial Development Board for Northern Ireland. This transition was marked by the implementation of the Industrial Development Act (Northern Ireland) 2002, which directed the formation of Invest NI to streamline efforts in economic development.
Impact and Achievements
Invest NI has been instrumental in various development projects across Northern Ireland, such as the restoration of Killeavy Castle with a £1 million grant. Such projects not only preserve cultural heritage but also stimulate tourism and local economies.
Moreover, initiatives like the support offered to Peak6, an investment firm, illustrate Invest NI's dedication to creating employment opportunities. The establishment of Peak6's office in Belfast, Northern Ireland's capital, with more than 160 jobs, underscores the agency's commitment to expanding economic opportunities.