1,334 businesses received offers of support from Invest Northern Ireland in 2024/25 which will see over £630m invested in the NI economy.
The organisation offered advice and support, including £88m of assistance, to businesses to support 2,062 growth projects.
The figures form part of Invest NI’s end-of-year performance results for 2024/25.
Speaking about the results, Kieran Donoghue, CEO, Invest NI said: “93 per cent of the investments we supported last year were brought forward by locally-owned companies, predominantly SMEs.
“Through this support we are helping more of our home-grown small business and entrepreneurs become more productive, win more business and develop new products. And with 59 per cent of these investments taking place outside the Belfast Metropolitan Area (BMA) we are contributing to the Minister’s vision of a more regionally balanced economy.
“We also secured 19 new inward investors for Northern Ireland in an increasingly competitive market for mobile investment. And 80 of our existing inward investors chose to reinvest this year, with R&D, skills and new jobs.
“These investments by local and external companies will see 3,020 new jobs created across the region, with financial support from us.”
Highlights of Invest NI’s performance in 2024/25 include:
· 2,062 investment projects supported against a target of 1,500
· £631m investment in the economy against a target of £525m
· 158 companies received Invest NI support for the first time, against a target of 140
· Businesses committed £245m to R&D and innovation against a target of £160m
· £31m was invested in Leadership, Skills and Training against a target of £30m
· 19 new inward investors were secured against a target of 15
· 155 companies were supported to export for the first time, against a target of 125
· £19m was invested in Energy & Resource Efficiency projects against a target of £7m
· 59% of all investments were located outside the BMA, against a target of 60%
[*investment figures include Invest NI support and company investment]
“In a volatile, uncertain and complex global environment, we must focus on making the long-term investments that will increase the productive capacity, capabilities and competitiveness of our economy’, continued Kieran.
“Our 2024-27 Business Strategy sets out our approach to deliver the economic vision led by the Minister for the Economy. Our first-year delivery against this strategy shows positive progress towards this longer-term vision and objectives.
“Sitting behind the strategy is a significant and ongoing internal organisational and cultural change process within Invest NI.
“This has included a refreshed and restructured leadership and a thorough review of our operating model and reprofiling of our client base to ensure we reach a wider number of businesses.
“We also continue to streamline our processes and introduce new digital initiatives to improve both our efficiency and the experience of our clients.
“While we remain committed to delivering against our three-year strategy, there are external factors that bring risks. Volatile trading arrangements, increasing costs and infrastructure constraints make it a challenging operating environment for businesses. Combined with our own budget constraints we remain alert to the challenges ahead of us to deliver on the ambitions in the strategy.
That said, our performance against the targets set for the first year of our new strategy has been very encouraging and we are cautiously optimistic about delivery in 2025/26.”
Economy Minister Dr Caoimhe Archibald has welcomed Invest NI’s performance results for 2024/25.
The Minister said: “The Independent Review of Invest NI called for profound change and these results demonstrate that this change is happening.”
The Minister added: “Invest NI’s Business Strategy 2024-2027 has set ambitious and challenging targets, and I am pleased to see the organisation delivering well against these, including increasing investments outside the Belfast Metropolitan Area (BMA) from 56% to 59%. I look forward to Invest NI achieving its target of 65% of investments outside the BMA by the end of the Strategy period.”
The Minister continued: “Invest NI cannot achieve the economic change the north needs on its own. I am therefore encouraged by its proactive and positive working with partners on key issues such as the City and Growth Deals, the Magee Taskforce, the Social Enterprise Partnership, and Local Economic Partnerships.”
Concluding the Minister said: “The staff of Invest NI are to be commended for the way they have transformed the organisation. Today’s strong results confirm that Invest NI is delivering on my priorities of increasing the number of good jobs, raising productivity, driving regional balance and decarbonising our economy.”
A fuller breakdown of 2024-25 performance is available at investni.com
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