The largest ever US public investment in Northern Ireland has been announced by Comptroller of the City of New York, William C. Thompson Jr.

$150 million has been earmarked for the 'Emerald Investment Development Fund LP', a private equity fund that will total some $750 million and will target infrastructure investment projects.

It is expected that half of the $150m will be used to finance energy, waste management, water, property and port projects.

First Minister Dr Ian Paisley and deputy First Minister Martin McGuinness attended New York for the announcement, which was held in the City Council Offices in Manhatten.

Dr Paisley said: "I want to thank William Thompson and his colleagues for their vision and commitment in putting together this substantial investment package. Their decision to chose Northern Ireland as a place to do business makes this a truly a great day for us and for New York.

-- Advertisement --

"This investment confirms that Northern Ireland has turned a corner. We are now a sound investment location that can provide the right calibre of people and projects to successfully underpin further inward investment, particularly from the US."

Mr McGuinness added: "In June last year myself, the Finance Minister Peter Robinson and a number of my Executive colleagues met with the Comptrollers office and I am delighted that today we have seen the fruits of this engagement.

"This investment comes from the pension funds of ordinary people many of whom are represented here today such as firefighters, police officers, teachers and government employees. It is in effect the ordinary people of the US investing in the future of the ordinary people of the North of Ireland.

"The objectives of our US: NI Investment Conference in May will be best delivered by those investors who prioritise such sustainable economic investment in partnership with sustainable social investment."

(VB/JM)