Agenda item

To consider further that portion of the minute of 10^th December under the heading “Economic Development” relating to the World Trade Centre Belfast which, at the request of Councillor McCarthy, was referred back to the Committee by the Council at its meeting on 5^th January.

            The Committee considered further that portion of the minute of the meeting of 10th December under the heading “Economic Development” which referred to the World Trade Centre Belfast which had been taken back at the Council meeting on 5th January at the request of Councillor McCarthy.  An extract of the meeting in this regard is set out hereunder:

      “The Committee considered the undernoted report:

‘Relevant Background Information

      World Trade Centre Belfast Business Plan

      BelfastCity Council acquired the World Trade Centre Belfast licence in 2002 in partnership with Multi Development. In 2007, the Council purchased back Multi Development’s 50% of the licence. Since the appointment of the WTC Officer in March 2007, work has been undertaken to develop WTC Belfast activities. This has included a WTC Belfast Export Excellence Seminar Series for local companies this year as well as managing inward investment activities. To determine the longer term plans for WTC Belfast services, a business plan has been developed.

Key Issues

      World Trade Centre Belfast

      The strategies outlined by Programme for Government, DETI and Invest NI emphasise the need to support more companies to become exporters.  Invest NI currently supports approximately only 5% of local companies and one of their priorities is to attract more client companies.  The WTC business plan highlights the trade barriers and needs of local companies, the current assistance available and gaps in provision which WTC Belfast can fill.  The business plan also details the commercial opportunities for WTC Belfast to secure income in order to secure the sustainability and growth of the service activities.

      It proposes the following services:

-     WTC Belfast Membership – target of 200 member companies established

-     WTC Global Skills Workshops – introducing companies to the practicalities of trading internationally

-     WTC Belfast Trade Missions – linking in with current providers (NICCI, Invest NI), we will undertake a small number of trade missions to target markets

-     WTC Global Supply Chain Management Programmes – helping companies improve their global supply chain management by looking at how they buy, sell or make products internationally

-     WTC Belfast Local Networking Events – series of breakfast events on key topics of interest to local businesses

-     WTC Belfast Investor Gateway Service – promoting Belfast as a city in which to invest and do business, linking with the key public and private sector agencies that can support potential investors.

      WTC Belfast will adopt the following principles in terms of service delivery:

-     Commercial approach: Services will be charged and income generated

-     Regional approach:  Membership and services will be offered to companies both regionally and internationally in cases where income can be generated or potential investment can be brought to the City. A regional approach also serves to attract co-funding for projects delivered on behalf of other organisations such as Invest NI. Participation costs by companies located outside of Belfast will be higher than those for Belfast businesses.

-     Partnership approach: WTC Belfast will work in partnership with other local delivery organisations as well as the wider WTC network.

      Further details on the proposed activities can be found on Modern.gov.

Resource Implications

      World Trade Centre Belfast

      The cost to deliver the identified services for the period January 2009 – March 2010 will be £160,000.  The budget for operations in the financial year 2008-2009 (£60,000) was approved as part of the Departmental Plan in May 2008; £100,000 will be required for the financial year 2009-2010.  An application was submitted to DETI for 50% funding for WTC Belfast activities for this period and this has been approved. Invest NI have also agreed to co-fund the first WTC Belfast trade mission to Doha, Qatar.  Further opportunities for private sector sponsorship will be explored.

Recommendations

      It is recommended that Members:

-     Agree the proposed activities to be delivered as part of the World Trade Centre Belfast activity plan for the period 2009-2010 and approve a budget of £100,000 for activities to be undertaken in the financial year 2009-2010

Key to Abbreviations

      WTC – World Trade Centre’

      Following discussion, the Committee agreed to adopt the recommendations contained within the report.”

            In response to a series of questions, the Head of Economic Initiatives informed the Committee that:

(i)   a number of developers had indicated to the Council that they would be interested in tendering for the World Trade Centre project, although, as no tender had yet been advertised, no formal bids had been received;

(ii)  twenty small or medium-sized businesses from Belfast would be participating in the trade mission to Qatar, accompanied by one member of staff.  It was anticipated that the companies participating would obtain contracts from companies in the Middle East and would meet with venture capitalists who would be able to assist in the development of those companies.  This visit had resulted from the Council’s contacts within the World Trade Centre organisation and would be a business to business, private sector-oriented event.  Invest Northern Ireland had been so impressed with the likely benefits from the Qatar trip that it had included it within the organisation’s Trade Programme for 2009;

(iii)no other outward missions were planned for the current year;

(iv)the programmes which would be offered by World Trade Centre Belfast would not overlap with any other programmes being undertaken by any other organisation; and

(v)  whilst no companies had yet agreed to participate in World Trade Centre programmes, a number had expressed an interest in so doing.

            Following a lengthy discussion, the Committee agreed to adhere to its decision of 10th December regarding the World Trade Centre Belfast.