After the 'fact-finding', investment commitments must be secured, writes Frances McDonnell.

THEY WERE promised a warm welcome and a taste of what Northern Ireland has to offer new investors.

So far so good - but will the canapes and the sunny weather be enough to convince corporate America to put their dollars in the North?

The Americans have been feted like movie stars since they arrived - many of them via their private jets. It is estimated a record number of over 20 are parked at the North's two main airports.

A cavalcade of yellow Chamber's corporate buses have been ferrying the American visitors between their five-star hotels and the conference's various venues in the greater Belfast area.

But although visiting Americans have been more than happy to chat with political and business representatives during the conference they are decidedly coy about attracting any publicity about themselves.

They had come to Northern Ireland to see for themselves what the place was like, they said, not because they specifically had money to spend. They were on more of a "fact-finding" mission than an investment spree.

Many of the US companies taking part in the investment conference are believed to be sensitive to the impact it might have back home if they are seen to be looking at new investment opportunities outside of America during this time.

Because of that the US visitors have been keeping a low profile with the media there has been little opportunity to closely identify who exactly is attend the conference and examine just how likely they may to be to invest in the future.

The majority of companies taking part in the conference are from North America - many also hail from the troubled banking and financial services sector or the professional services sector which is feeling the squeeze in the current economic downturn.

It is believed that representatives from the likes of Accenture, American Express, Lehman Brothers and Morgan Stanley are in Belfast this week. Other organisations which are represented include Hewlett Packard and IBM.

Yesterday, as Stormont Castle celebrated the first anniversary of devolution, it also celebrated the fact that more than 100 Americans could be persuaded to come see what potential Northern Ireland may now possess.

Then before they had time to recover from the imposing impression that Stormont can leave on the first-time visitor, it was off to Hillsborough Castle for yet more champagne, canapes and a dinner that could be only be described as a culinary masterpiece.

If nothing else anyone attending the US:NI Investment conference has been well fed and watered at the expense of some corporate sponsors and the Northern Ireland taxpayer.

The objective of the conference is first and foremost to attract new investment to the North - to attract companies who will create new jobs.

It is a long-term exercise which business leaders in Northern Ireland do believe will bring results - they cite the numbers of companies willing to attend the conference as proof that the tide has turned in favour as regards Northern Ireland's image as an investment location.

Every new investment in Northern Ireland is significant, it marks another step on road to economic recovery; but the real question this week is whether these investments will help inspire other American firms to follow suit or whether this investment conference will be little more than a public relations exercise.