Throughout this series of columns, I have argued that the future prosperity of the North West must be built from within. We need more local businesses that can grow and scale. We need to develop local talent and create opportunities for people here. But we also need to ensure that more of the value created here stays here and benefits local people.

This is where a Community Wealth Building approach makes sense.

At its heart, the idea is simple. It is about creating wealth locally, retaining more of it locally, and using it to create jobs, opportunities, and stronger communities. It recognises that strong businesses help create strong communities, and strong communities help create strong businesses.

The North West has a long tradition of creating opportunities from within. Derry became the shirt-making capital of these islands because generations of local people developed skills that helped build a thriving industry, create jobs and support families across the city and region. That spirit of enterprise and self-help is still one of our greatest strengths.

Today, we have an opportunity to build on that tradition. Through the City Deal, the expansion of Magee and other major investments, substantial resources are being committed to our region. The challenge is to ensure these investments create lasting benefits for local people. How do we help more local businesses access the opportunities they create? How do we equip more young people with the skills needed for rewarding careers here? How do we retain more of the value generated by these investments within our region?

These are not community questions or business questions. They are North West questions.

In the North West, we have spent too long talking about what we lack. It is time to focus on what we have: talented people, strong businesses, committed communities, and a unique opportunity to turn significant investment into lasting local benefit. A successful economy creates wealth. A successful region turns wealth into opportunity. We have the ingredients. Now we must make them work together.