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Inward Investment: North Tyrone

Volume 688: debated on Tuesday 23 January 2007

asked Her Majesty's Government:

What plans they have to attract investment to North Tyrone. [HL1276]

The Government, through Invest NI, promotes Northern Ireland as an attractive and viable location for foreign direct investment. It also works to stimulate the development and growth of local businesses and entrepreneurial activity. The Northern Ireland Tourist Board (NITB) works to secure investment in tourism. Invest NI works closely with local stakeholders to encourage them to develop regional propositions to maximise the attractiveness of their area for potential investors.

This strategy has resulted in just under £5 million of assistance being offered towards total planned inward investment of £19.2 million in the Strabane District Council area in the four years to March 2006. Through its Accelerating Entrepreneurship Strategy, Invest NI has also assisted the creation of just under 270 new enterprises which have the potential to generate significant additional turnover in local businesses.

The NITB has prepared a strategic framework for action 2004-07 to focus on attracting visitors to NI, to increase the competitiveness of tourism businesses and to stimulate effective communication with the industry. Four regional tourism partnerships (RTPs) were set up under the framework to assist the promotion of tourism at local level. The Western RTP, which includes North Tyrone, has to date been allocated £125,000, representing 25 per cent of the £500,000 funding from the NITB towards this initiative. Projects from North Tyrone have also been eligible to compete for funding under the tourism development programme.