The Derry City and Strabane City Deal has been welcomed by Ministers, saying the £250 million investment will be “transformational for the North West”.
Funding of £105m has been provided by the UK Government, matched by the Northern Ireland Executive and Derry City and Strabane District Council and its project partners provided £83m.
More than £250m will be invested which could create up to 6,300 new jobs by 2033 and ‘attract investment, enable regeneration and boost tourism’.
First Minister Michelle O’Neill said:
This is a fantastic day for Derry and Strabane, as we sign off on a historic investment of over £290million to continue the transformation of this city, and to build a brighter future for all communities.
This City Deal is a game-changer for the regeneration of this City and District, for creating better jobs, for education, tourism and helping to unleash the North West’s full economic potential.
The British government’s must lift their pause on the other Growth Deals and ensure these financial investments continue as planned.
Deputy First Minster Emma Little-Pengelly said:
The funding as part of this City Deal focuses on innovation, regeneration, tourism and renewal initiatives, with the potential to create 6,300 new jobs by 2033.
Working in collaboration with our City Deal partners, we want this investment to deliver the projects that will have lasting impact and will create opportunities for further investment in the north west region.
Although today’s signing is to be welcomed, we remain gravely concerned about the impact of the pause on the Mid South West and Causeway Coast and Glens Growth Deals. These deals deliver vitally important opportunities for growth and we will continue to push the UK Government to lift the pause on them.
Finance Minister Dr Caoimhe Archibald said:
I am delighted to sign the Derry City and Strabane District Council City Deal today which will be transformational for the North West.
This major milestone represents a huge investment and is the outworking of our commitment to promote regional balance.
Today’s signing is a huge milestone for all those involved and work can now begin to allow the funding to deliver real change for this City and District.
While positive work can begin here, the pause must be lifted on the Causeway Coast and Glens and Mid-South West Growth Deals. I will continue to press the British Government to honour their commitments made to these Deals which will bring hope and prosperity right across the North.
The Executive Ministers also reiterated their calls for the funding packages for the Causeway Coast and Glens and Mid-South West Growth Deals to be unpaused.
Secretary of State for Northern Ireland Hilary Benn said:
I am delighted that the Derry-Londonderry and Strabane City Region City Deal is proceeding as planned, and proud to sign the deal on behalf of the UK Government.
It’s going to provide support to so many important initiatives which will positively impact the lives of local people, including the regeneration of the waterfront in Derry, and of Strabane town centre.
The digital and innovation projects which the UK Government is investing in through this deal will deliver a fantastic economic boost and opportunities for residents of the entire North West region.
Exciting projects such as the £39 million new combined Cognitive Analytics and Digital Robotics Centre (CADRC), will deliver cutting-edge research and innovation.
A new School of Medicine/ Personalised Medicine Centre will develop research capabilities at Ulster University’s Magee Campus, complemented by educational facilities at Altnagelvin Hospital campus.
I congratulate everyone involved for their hard work and dedication over many years to reach this important milestone. I look forward to seeing the positive impact this investment will have on local people and businesses.
