North's ministers hoping to attract US investment

The North’s First and Deputy First Ministers were in the United States today urging corporate America that the province is a good place for them to invest despite the global downturn.

At the start of a four-day visit, Peter Robinson and Martin McGuinness told some of the largest and most profitable companies in the US that the North is still very much open for business.

Speaking at the Fortune 500 dinner in Washington – hosted by the US Special Envoy to the North, Paula Dobriansky – the ministers said a wealth of excellent investment opportunities awaited then in the North.

Mr Robinson said: “Northern Ireland remains open and ready for business. The Executive is committed to growing our economy and to offering an open and welcoming environment for inward investment. Our country is a viable location for investors, offering a wealth of unique opportunities.

“I firmly believe that Northern Ireland offers a range of specialist and niche skills that investors can take advantage of.”

He added: “Northern Ireland is an economy in transition, we are aware of the challenges we face but we will face them and ensure Northern Ireland’s place in the world.”

Mr McGuinness told the dinner guests: “Not only are we open and ready for business, we have the skills and location to build business. Our location and infrastructure give ready access to the developing all-Ireland economy, access to the British market and into Europe.

“We are a highly competitive cost environment, but our economy does not compete on cost alone, we compete on talent. One of our greatest assets is our skills base. Potential investors will find a highly skilled and motivated workforce proven in our history of engineering and in our expertise in emerging technologies.”

Later this week Mr Robinson and Mr McGuinness will be in New York to meet Mayor Michael Bloomberg and New York City Comptroller William C Thompson Jnr.

The visit is a high profile follow up to the North – US investment conference which drew scores of US captains of industry to Belfast in May.

Around 150 business leaders representing more than 90 companies attended to learn about investment opportunities.

Despite the economic downturn, the falling value of sterling against the dollar could be used to attract funds from across the Atlantic, the ministers believe.

Four New York city pension funds are already committed to invest a total of $150m (€119.2m) in the Emerald Infrastructure Development Fund in the North.

The First and Deputy First Ministers earlier invited the Governor of Maryland, Martin O’Malley, to visit the North next year.

They extended the invitation during a lunch with Governor O’Malley in Annapolis, Maryland.

Mr Robinson said: “If Governor O’Malley visits Northern Ireland, he will find an Executive that is keen to attract investment and a country that is open for business.”

Mr McGuinness added: “The potential investment that could flow from this visit could make a significant difference and would demonstrate real faith in the local economy.”

Following their meeting Governor O’Malley took the visitors on a tour of the Maryland State-Stat facility.

It is used for collating statistical results which identify issues and trends to allow government to make real-time management decisions to improve services and performance.

Mr Robinson described it as a “fascinating facility” that had changed how Maryland is governed.

“Our tour has thrown up many ideas that could perhaps be emulated back at home,” he said.

Mr McGuinness said: “State-Stat is a truly innovative programme that has been replicated throughout the world. There are many lessons that we can learn from this programme.”