THE new interim chair of Invest NI has said the organisation’s response to a damning independent review will see it “pivot” from supporting job creation to focusing on raising productivity within the wider Northern Ireland economy.
Colm McKenna said the economic support agency requires change to its leadership, structure, operations, culture, and strategy.
The interim chair was speaking on Wednesday morning as Invest NI published its plan of action in response to Sir Michael Lyons’ highly critical January 2023 report.
The ex-BBC chairman spent the best part of year looking deep within the £160 million-a-year arm’s length body before concluding “profound change and reform” was needed.
The Department for the Economy (DfE) said around 300 civil servants and staff from Invest NI had been involved in developing the plan of action to address the issues raised in the review.
Both DfE and Invest NI have admitted “there is no quick fix”.
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Without a minister for the past year, the department’s most senior civil servant, Mike Brennan, has been tasked with overseeing the process.
He warned “difficult decisions” lie ahead in the wake of the funding pressure on all Stormont departments, exacerbated for Invest NI by the loss of crucial EU funding post-Brexit.
“Invest NI, like all public bodies, must do more with less in the constrained budgetary landscape, and difficult decisions must be taken to ensure this plan is implemented,” said Mr Brennan.
Sir Michael Lyons’ review heard of "widespread concern" that Invest NI's board had at times become too involved in operational issues.
It also heard accounts of “negative and damaging relationships” between the board, chief executive and other senior leaders.
The review authors suggested it may have been "the result of frustrations concerning a perceived lack of transparency within the organisation”.
In response to the 17 recommendations contained in the Lyons’ report, Invest NI have developed its own list of 35 actions to be taken over the next two years.
They range from the appointment of a new permanent chief executive by January 2024 and new chair by April 2024, and the development of a new leadership structure.
An annual review of the how the board and leadership are working together will also be introduced.
Mel Chittock, who was appointed as Invest NI’s interim chief executive following the resignation of Kevin Holland two years ago, has already admitted the organisation needs to change.
But it remains unclear whether the interim boss is in the running for the permanent post.
Invest NI will also transfer tourism support functions to Tourism NI by October 2025.
Invest NI’s list of actions are heavily influenced by DfE’s ten-year economic strategy 10x, which was launched in 2021 by the former DUP Economy Minister Diane Dodds.
The 10x strategy is built on three pillars: Innovation, inclusive growth and sustainability.
Colm McKenna took over as interim chair of the Invest NI board after Rose Mary Stalker stepped aside in January, days after the publication of the Lyons’ review.
He said the action plan represents a clear commitment for change by Invest NI and DfE.
“We do not underestimate the challenge ahead to ensure we fulfil everything we have committed to.
“We have already made good progress in the eight months since the publication of the review and have taken immediate action in several areas while we also carried out the detailed scoping work on the more challenging recommendations.
“Previously the targets we were given were heavily focused on job creation but starting now, our customer is the wider Northern Ireland economy.
“Our focus will now pivot from supporting job creation to delivery of 10x and city and growth deals in order to raise the overall level of productivity in our economy.
“This includes a commitment to strengthening our regional impact and ensuring Invest NI is equipped to deliver the department’s 10x policy priorities of innovation, sustainability and inclusivity to ensure we deliver a high-performing Northern Ireland economy.”
