City got just 5% of Invest NImoney: SDLP

In comparison South Belfast received 25 per cent of INI’s spend. It follows last year’s figures which saw East Belfast receive a quarter of INI’s financial assistance.

He commented: “These set of figures mark the equivalent of an economic ‘Groundhog Day’ for this city’

“This city has the North’s highest level of unemployment. If this wasn’t bad enough, this is aligned with a dismal track record of investment by the North’s leading jobs agency’.

“It is this debilitating dichotomy which threatens to stunt the potential which I firmly believe this city holds.”

He pointed out that whilst a quarter of Invest NI spending went to East Belfast last year, the only change this year was that this percentage was directed towards South Belfast instead.

“Stormont’s leadership, particularly our resident deputy First Minister, need now to explain to the people of this city how these figures are serving the interests of regional economic equality.

“Let’s be clear, this city is gearing itself to avail of investment opportunities in the next number of years. A lot of good, positive work has gone on behind the scenes by our business and community leaders. The central pillar of the City of Culture’s legacy and our city’s regeneration is primarily about jobs,” he stated.

He asked if the Executive was going to deliver on this.

“Will Stormont’s leadership enforce the political priority that areas of high unemployment will receive a higher percentage of Invest NI spend? Will they enforce the political priority which ensures the incentives they give to FDI companies will be spread on a fair regional basis?

“‘These are the questions that I, and the people of Derry will continue to ask,” said Mr Eastwood.