Department for the Economy Board minutes 2026 - 28 January 2026

No new interests or conflicts in relation to items for discussion on the agenda were declared. 

It was noted that this will be Moira Doherty’s final Board meeting as member due to her success in the recent Permanent Secretary competition. 

Louise Skelly was welcomed to her new position of Non-Executive Board member.

Ciaran McGarrity presented

• The Enhanced Investment Zone (EIZ) is a UK Government (UKG) economic programme designed to address barriers to productivity in key priority sectors. It supports delivery of the UK Industrial Strategy, published on 23 June 2025.
• £150m has been allocated to NI to be spent over a 9-year period. Release of funding is contingent upon UKG approval of our programme proposal which requires strong evidence of collaboration, demonstrating that private sector and universities have actively contributed to co-designing the programme. It must also confirm that EIZ funding will leverage significant private sector investment to maximise impact and sustainability. Approval is subject to a UKG five-stage Gateway approval process which has been completed in January 2026. Advanced manufacturing, with a particular emphasis on high growth sub sectors biotech and photonics, has been formally agreed with UKG as the priority sector for the Programme.
• The Executive approved thematic spend over the next 9 years last Thursday.
• The focus is on Minister’s priorities and Programme for Government. Regional balance is a challenge.
• This is part of the UKG levelling up agenda where local people know best how to deliver.
• There are clear outcomes and expectations.
• The key test for Treasury is leveraging private sector investment. Small amounts of government investment can leverage large amounts of money. We need to set and sell our vision. There is a focus on productivity, private sector led and not just doing what we always have done.
• There is a proposal from Ryanair for the establishment of a major maintenance, repair and overhaul facility in NI which could produce 600 high quality jobs. This is a competitive process and we have to respond to a foreign direct investment process at pace.
• Our 2 main projects are with Photon X and Pioneer. The Photon X project will position NI as a global leader in photonics innovation and manufacturing ultimately creating 500 high-value jobs and catalysing an estimated £500m in GVA. The Pioneer Group is a leading provider of life science real estate and involves the development of a Life Sciences Wet Lab Facility and Bio-Incubator to support the growth of NI’s Life Sciences sector. The facility is expected to support the creation of 250 high value life science jobs.
• There are different indicators of success and UKG require annual delivery plans with outputs. Each project will have its own outcomes.
• Delivery will primarily be done by Invest NI. Their Chief Accounting Officer is accountable.

(Name redacted) presented

• Following issues surrounding the NI Events Fund and the closure of the NI Events Company, and as part of the Review of Public Administration, the Events function has been transferred to Tourism NI.
• The paper provided shows the ecosystem of events which is not particularly well funded.
• Due to resource availability, the National Tourism Events Fund has not been funded for a number of years, with a focus instead on the International Tourism Events Fund and Major Events. There is a restricted budget and criteria for support have been made stricter.
• We know major events drive an economic return and act as catalysts for future tourism. Events do not just have economic benefits but also social, cultural and community wellbeing.
• We are selling NI as a mature, functioning and safe place.
• We wait for organisations to come to us to hold major events – should we continue to do this or seek major events? Should we be targeting particular events where we already have infrastructure? 
• Support for smaller events that can develop into self-sustaining medium size events may be a better approach longer term.
• Challenges include political controversy and limitations due to funding. Scale and that events come as and when are also issues.
• Tourism is a sector that spreads throughout NI with 70% being outside Belfast.
• There are less visitors to NI during the autumn/winter/weekdays and there is a Business Events Strategy to have NI as a destination for conferences and events.
• DfE role could find itself responsible for things that we don’t have a lot of control of, that may include things within the remit of e.g. Councils and PSNI.
• Tourism NI is currently conducting a review into how events are supported, considering whether or not the annual grant model is appropriate and a review of criteria by which event should be supported.

• Internal moves in Further Education were discussed with an officer transferring from DE on 16^th February.
• An officer will be transferring from DoF effective Monday to be responsible for Digital Development.