By Kevin Mullan
Copyright derryjournal
Mr. Kennedy tendered his resignation during a meeting of the Invest NI Board in Belfast in June, newly published minutes show. The prominent retired businessman was scathing of the record of Invest NI when asked to give his view on its decision to remain at its current office in Timber Quay. “Kieran Kennedy stated that he was angry and disappointed with ExCo’s [the Invest NI Executive Committee] decision regarding the location of the office and stated that he did not see any change in culture in the leadership team. “He stated that, in his opinion, the team was not committed to achieving regional balance and felt that the NW was being discriminated against. “He further stated that, in his opinion, ExCo did not want to make alternative locations work and he had lost all faith in them as a leadership team. “Kieran Kennedy concluded by tendering his resignation from the Board of Invest NI,” the minutes read. Following Mr. Kennedy’s intervention, Chair Joe Healy stated that on careful reading of a paper provided to the Board ‘the operational decision reached is the only option that is currently viable, but finding a best fit for the regional office in the NW is a continuing priority’. “The Chair told Kieran Kennedy that he was disappointed with his decision and that he thought he was wrong. “The Chair stated that the CEO [Kieran Donoghue] and leadership team had the full support of the Board with regards to the operational decision on the location for the NW office, and the reasons for the decision were fully understood. “The Board, therefore, rejected Kieran Kennedy’s perspective and endorsed the approach of the Executive leadership team,” the minutes, newly-published by Invest NI state. Mr. Kennedy retired in 2021 after 42 years with the Strabane-based company, O’Neill’s. An Invest NI spokesperson said: “Invest NI has placed regional development, including the further development of the North West, at the centre of its new strategy. “Recent investments announced by client companies such as EY, FinTrU, Alchemy and Seagate are evidence of this commitment. “In 2024/25, Invest NI supported a total of 236 investments in the NW, provided financial support of £22m and generated total investment of £165m.” SDLP Economy Spokesperson Sinéad McLaughlin described the resignation as a ‘concerning signal about the organisation’s commitment to regional balance’. Ms McLaughlin said: “It is deeply regrettable that Kieran Kennedy has stepped down from the board of Invest NI. Over the last five years, he has been a consistent and respected voice calling for greater urgency in tackling regional imbalance. For him to resign in frustration is a damning indictment of the lack of progress to date. “When Sinn Féin took up the Economy portfolio in 2024, they pledged that delivering regional balance would be a key priority. Nearly two years on, people across the North West are still waiting to feel the benefits of that promise in their daily lives. While there has been some welcome progress – with the continued expansion of Magee and the £115 million investment at Seagate – it is nowhere near enough.” 57 acres of land held by Invest NI in East Derry available to support business development
