Future of North West depends on infrastructure, claims IBEC

IBEC has claimed investment in infrastructure is the number one issue on which the future growth of the North West region depends.

In their submission to the Government’s review of the capital investment plan for the country, the business group lambasted successive Governments for “years of chronic under- investment in the North West”.

It’s led to “glaring gaps” in infrastructure and has led to widespread economic inequality, they claim.

The group called on Government to increase investment in regional infrastructure, claiming that failure to adopt a more ambitious capital plan would accentuate the growing imbalance between the regions and the greater Dublin economy.

Ibec Regional Director for the North West Terry MacNamara said: “The North West region has been seriously deprived of infrastructure investment. A two- speed economy has emerged over the past few decades with Dublin and the Eastern region consistently outperforming the rest of the country.

“Years of chronic under- invest- ment in the North West has led to glaring gaps in infrastructure and has contributed to widespread regional economic disparities. The North West remains the only region in the country that is not connected to the capital by a motorway. Its importance cannot be overstated. It is time at a national level to address it.”

“Right now Ireland severely lags behind our competitors when it comes to infrastructure spend. The North West is amongst the lowest of all regions for IDA backed jobs per capita. If we want to attract investment to the region, Government must break away from the austerity mindset and ramp up spending on public infrastructure. This investment is necessary to overcome peripherality and to provide the platform for sustainable future economic growth. Without good access investment simply does not happen,” he said.

“In the North West, advancement of the A5, investment in the N14 Letterkenny- Lifford, N4 Sligo- Dublin and the Atlantic corridor routes are vital in overcoming the peripherality of the region, which has long deterred investors and hindered the region’s economic development.

“Currently, 53% of all premises in the North West do not have access to high speed broadband. This is a huge barrier to growth. Any further delays must be avoided with the roll- out of broadband,” he added.

In its submission Ibec said infrastructure could be funded by a mix of Exchequer funding, public private partnerships ( PPPs), other non- Exchequer finance ( such as the European Investment Bank) and disposal of underutilised State assets.