Opinion

Editorial: Stormont return key to supercharging US investment

THE Kennedy family has a long association with Ireland, with Joe Kennedy III the latest member of the American political dynasty to take a close interest in affairs here.

A grandson of Robert F. Kennedy, Mr Kennedy is a former Massachusetts congressman who President Joe Biden named late last year as his special envoy for Northern Ireland.

Previous envoys have had more directly political remits. The most notable of these was Senator George Mitchell. He was appointed by Bill Clinton and chaired the talks that led to the Good Friday Agreement in 1998. Senator Mitchell's pivotal role has rightly been celebrated during this week's events to mark the 25th anniversary of the Agreement.

Though our politics could once again benefit from the influence of a figure of Senator Mitchell's stature, Mr Kennedy has been given a different sort of mission by President Biden: to boost the north's economy by developing US investment.

As Mr Kennedy told this newspaper, he also wants to ensure "the benefits of economic prosperity reach out to every community".

Northern Ireland has already enjoyed considerable success in attracting US investment. More than 230 American companies have operations here, with President Biden saying in his Ulster University address last week that they already employ more than 30,000 people and have generated more than $2 billion in investment.

Throughout his visit President Biden held out the promise that more US companies would be willing to invest here, and that Mr Kennedy would “supercharge” efforts to help the north realise its “enormous economic potential”.

The economy and politics are, of course, intrinsically linked. Mr Kennedy rightly says that the Windsor Framework, which cements the north's dual market access to the EU and UK, provides an "extraordinary opportunity". Political stability is "critically important" to maximising this potential, he emphasised.

But stability is sorely lacking at present. The DUP's current approach to Stormont perpetuates uncertainty in our politics. Yet a return to power-sharing is inevitable for the party - it is a question of when, not if, which merely emphasises the cynicism of the DUP's continuing boycott.

When the Assembly does return, questions around the application of the Stormont brake mechanism have potential to inject fresh uncertainty into our politics. As Mr Kennedy points out, businesses considering making large investments want "clarity and certainty".

It would be unforgivable if the DUP's obduracy choked the chance to make the most of the goodwill from our American friends and the opportunities within our grasp.