A wave of investment in Northern Ireland is being promised by the Irish, US and British governments, and by US business leaders, if political stability is restored to the North.
Political leaders are using a series of events in the US this week for St Patrick’s Day to press home the message that a return of the political institutions would result in significant economic benefits for Northern Ireland.
Tánaiste and Minister for Foreign Affairs Micheál Martin has repeatedly stressed the investment opportunities available for the North during a trip to New York this week, telling a business meeting on Tuesday evening that a “decade of investment” was in prospect for the North.
And last night Taoiseach Leo Varadkar told The Irish Times that potential investors in Northern Ireland needed certainty that they would have access to both the UK and the EU markets.
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“We have the opportunity to deliver a decade of investment and ensure that the next generation of young people in Northern Ireland can look forward to the future with hope and confidence,” Mr Martin told an event hosted by the American Chamber of Commerce Ireland at the Irish Consulate in New York.
The previous evening, he delivered a similar message in the presence of Hillary Clinton and an audience of Irish-American business leaders.
Senior sources told The Irish Times that the message is being delivered forcefully in private to Northern leaders as well as publicly, and that it is being reinforced by US and British leaders and by US business interests.
It is understood that a big investment conference for the North is planned for later this year.
The DUP leader, Jeffrey Donaldson, is also in Washington for the St Patrick’s Day events where he is likely to come under pressure to accept the Windsor framework agreement and re-enter the powersharing institutions at Stormont.
Mr Varadkar said that there is now the prospect of significantly increased investment in the North if businesses and investors can have confidence in access to the EU and the UK markets.
“Businesses make 30-year investment decisions and they will want to know that the framework will be implemented and will last,” he said. “That can lead to a lot of increased investment in Northern Ireland.
“I do not see it as a loss to the Republic. I see a strong Northern Ireland economy as beneficial to all of us.”
Political leaders from North and South have been converging on Washington for St Patrick’s Day, where all week the focus has been strongly on Northern Ireland for the first time in many years.
