Inclusive economic growth - Belfast's strategic position and economic restructuring

Belfast is an important economic gateway to Northern Ireland with an extensive port, airport, rail and road infrastructure. It provides a competitive strategic position in proximity to Europe, with the advantage of operating in the same time zone, regulatory environment and is ideally situated between mainland Europe and the U.S. The city has a strong engineering heritage with an international reputation with companies developing innovative components for the aerospace, automotive, technology and energy sectors. The city, like many other former industrialised regions, has undergone economic restructuring, with a shift from manufacturing employment towards services and public sector employment. The city needs to restructure the economy by diversifying its economic base, reducing its dependence on the public sector and increasing the size and efficiency of its private sector. However, it is essential that the whole region continues to benefit from the impetus provided by a competitive and successful city that can attract talent and investment, generate regional employment and opportunities and drive sustained growth in key sectors, with a focus on addressing deprivation.