Invest NI collaboration initiative helps local councils boost economic development

Nov 21, 2011

Invest Northern Ireland has been working closely with local councils to promote the implementation of a measure aimed at stimulating economic growth among Northern Ireland’s wider business base.

The Local Economic Development (LED) measure, part funded by the European Regional Development Fund (ERDF) is available to councils to help them address the particular needs of businesses in their area.

Castlereagh Borough Council is the first to implement this measure. Its Evolution project will offer companies one-to-one mentoring support, networking opportunities, general business advice as well as specialist support from leading academic institutions.

Bill Scott, Invest NI’s Director of Regional Economic Development, said: “This LED measure aims to help councils provide  economic development resources which meet the needs of businesses in the community and complement the support currently offered by Invest NI. The main focus of the measure is to support innovation, research and development and entrepreneurship.

“Castlereagh Borough Council is leading the way in taking advantage of this opportunity and Invest NI is actively working with a number of councils to identify how the scheme can be used effectively to benefit businesses in their area. By helping companies gain the knowledge and skills needed to succeed in challenging market conditions this measure has the potential to make a significant contribution towards rebuilding our economy.”

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