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McGreevy: Unspent funds must be invested in small businesses

SDLP Newry and Mourne Cllr Connaire McGreevy has gained the full backing of council in requesting that the £17.5million returned from Invest NI to the Department of Finance is reallocated to small and medium enterprises (SMEs).

Thu 6th October

Speaking following the council’s Economic Development Committee, Cllr McGreevy said:

“It is a total disgrace that Invest NI has not spent funds provided to create jobs when we have such a high level of joblessness in our community.

“I have proposed that council writes to Invest NI and the Finance Minister demanding that these funds are redirected to support small businesses in Newry and Mourne and across the North.

“With 95% of the companies here being SMEs there needs to be a new dedicated programme from government to help them weather the economic storm, grow and create employment for people.

“For instance local councils could act as an agent to allocate funds to local businesses such as the money handed back to companies that do not meet Invest NI client requirements.

“On Monday I met with the Warrenpoint, Burren and Rostrevor Chamber of Commerce where local traders were talking about the decline in footfall and the daily struggles which they are all facing.

“So rather than handing money back, it is imperative that Invest NI makes a greater effort to target and channel funds toward enterprises in our community which have the potential for growth.”

Councillor Connaire McGreevy

Email connaire.mcgreevy@gmail.com
Tel 07793 318 581

Press Office

Tel 028 90 52 1837

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