§ Mr. TrimbleTo ask the Secretary of State for Northern Ireland what the average financial assistance offered by Invest Northern Ireland to(a) inward investors and (b) indigenous investors was per job created in each of the last five years. [159745]
§ Mr. GardinerComprehensive and consistent information for job creation over time is not available for the full client company base of Invest Northern Ireland. Data on jobs promoted (expected to be created) is available for projects secured between 1998–99 and 2002–03 together with the financial assistance offered to promote those jobs.
Previous evidence provided by IDB to the Northern Ireland Audit Office showed that approximately 70 per cent. of jobs promoted were created and a similar proportion of grant offered was actually paid.
The information provided in the tables does not reflect all job promotions as a result of Invest NI activity, but is restricted to those generally larger indigenous businesses and inward investors for which historical information on job promotions is currently available. The focus of much of Invest NI's activity is on capability building as opposed to capacity building with the aim of strengthening business competitiveness in Northern Ireland, which in turn will lead to an increase of wealth in the economy.
Jobs promoted by inward investors Financial year Jobs promoted Assistance offered for job
promotions
(£)
Cost per job promoted (£)
1998–99 4,162 29,261,639 7,031 1999–2000 6,584 65,086,586 9,886 2000–01 5,506 40,305,849 7,320 2001–02 2,526 28,582,770 11,315 2002–03 1,033 8,873,866 8,590 Grand total 19,811 172,110,711 8,688
Jobs promoted by indigenous investors Financial year Jobs promoted Assistance offered for job
promotions
(£)
Cost per job promoted (£)
1998–9 1,272 15,766,331 12,395 1999–2000 561 4,061,287 7,239 2000–01 2,090 14,851,008 7,106 2001–02 370 1,471,357 3,977 2002–03 1,661 20,340,041 12,246 Grand total 5,954 56,490,024 9,488