U.S. Slump Will Not Threaten Northern Economy Says Paisley

Captains of industry, the owners of the New York Stock Exchange and financial chiefs from New York will be in Belfast next month for a conference about business opportunities in the province.

Last week New York city's pensions fund announced it would plough 150 million dollars into the province.

Mr Paisley told the Assembly: "I believe Northern Ireland represents an excellent opportunity for US companies to come here because during the periods of economic volatility companies will be looking for new markets where they can invest.

"There is a high level of interest being shown in this conference.

"We will be significantly above attendance expectations."

Around 50 US companies have signed up for the conference, which will also see Gordon Brown and Irish Taoiseach-elect Brian Cowen in Belfast.

The outgoing DUP leader said half of corporate America's profits came from overseas operations and 95% of the world's commerce took place outside the US.

He added recent announcements like the pensions boost and Irish Finance Minister Mr Cowen's promise of more Irish financial services offices in Northern Ireland reflected the province's strong position.

"We should be grateful to them for what they have done but they will benefit," he added.

"My message was: 'Come with us and we will do you good'."

Mr Cowen said up to 5,000 jobs could be created over five years.

He said he would look favourably at large Dublin financial companies which wanted to delegate some of their operations north of the border.

Among those attending next month's investment conference are property developer Donald Trump, New York City comptroller (finance chief) William Thompson and state comptroller Thomas DeNapoli.

The Emerald Infrastructure Development Fund will invest 150m dollars (£75m) to finance large energy, waste management, water and ports projects on behalf of four New York city pension funds.

Northern Ireland is also to benefit from three European regional development funds continuing until 2013. The money is worth £614m euro (£493m).

It will boost sustainable competitiveness and development schemes with the Republic and Scotland.