Menu
07/05/2019
Govt Announces £105m Economic Funding For Derry And Strabane
The Derry City and Strabane City Region economy has been boosted with government funding packages worth £105 million.
The UK government announced a economic package which includes a £50m 'City Deal' and a £55m 'Inclusive Future Fund'.
This announcement follows a visit to the City last July when the Chancellor Philip Hammond met with civic and political leaders to hear of the plans and invited a bid for a City Deal to be formally submitted.
Derry City and Strabane District Council led the City Deal bid along with the support of a wide range of local education, business and economic partners. It will focus on education, innovation, job creation and skills development, as well as the expansion and growth of the Magee campus of Ulster University.
Mayor of Derry City and Strabane District Council, Councillor John Boyle said: "This hugely significant announcement today for the Derry and Strabane District will go some considerable way in addressing the long-standing obstacles to economic development that this City Region and its people face. It is good news and is the result of an enormous amount of work and sustained effort invested by Council and the City and Regional partners to develop, deliver and negotiate on the bid."
The bid was supported and endorsed by all local and regional political parties and representatives and devised around the key strategic economic projects outlined in the City and District's Inclusive Strategic Growth Plan 2017-2032.
The investment package will advance the delivery of a range of smart city and digital infrastructure projects and initiatives, further positioning the City and District as a highly digitally enabled location for cutting-edge business development and expansion and inward investment.
It is anticipated that the UK Government investment package will be at least matched by a similar commitment from the NI Executive and further investment from project partners, bringing the total investment to over £300m.
Council Chief Executive John Kelpie added: "This City and District has seen much progress in recent years economically, physically and socially. It has however significant remaining challenges in overcoming an infrastructure deficit and a legacy of underinvestment both of which have been such inhibitors to sustainable economic growth.
"This funding package, if directed at the key agreed strategic growth projects and if used to lever significant further public and private sector investment, will deliver a new era of unprecedented growth and development for the City and Region providing tangible benefits for all of our citizens and a promising future for our children and young people."
Work will now to continue to develop the necessary detailed business plans and advance the projects through planning and design.
(CM/MH)
The UK government announced a economic package which includes a £50m 'City Deal' and a £55m 'Inclusive Future Fund'.
This announcement follows a visit to the City last July when the Chancellor Philip Hammond met with civic and political leaders to hear of the plans and invited a bid for a City Deal to be formally submitted.
Derry City and Strabane District Council led the City Deal bid along with the support of a wide range of local education, business and economic partners. It will focus on education, innovation, job creation and skills development, as well as the expansion and growth of the Magee campus of Ulster University.
Mayor of Derry City and Strabane District Council, Councillor John Boyle said: "This hugely significant announcement today for the Derry and Strabane District will go some considerable way in addressing the long-standing obstacles to economic development that this City Region and its people face. It is good news and is the result of an enormous amount of work and sustained effort invested by Council and the City and Regional partners to develop, deliver and negotiate on the bid."
The bid was supported and endorsed by all local and regional political parties and representatives and devised around the key strategic economic projects outlined in the City and District's Inclusive Strategic Growth Plan 2017-2032.
The investment package will advance the delivery of a range of smart city and digital infrastructure projects and initiatives, further positioning the City and District as a highly digitally enabled location for cutting-edge business development and expansion and inward investment.
It is anticipated that the UK Government investment package will be at least matched by a similar commitment from the NI Executive and further investment from project partners, bringing the total investment to over £300m.
Council Chief Executive John Kelpie added: "This City and District has seen much progress in recent years economically, physically and socially. It has however significant remaining challenges in overcoming an infrastructure deficit and a legacy of underinvestment both of which have been such inhibitors to sustainable economic growth.
"This funding package, if directed at the key agreed strategic growth projects and if used to lever significant further public and private sector investment, will deliver a new era of unprecedented growth and development for the City and Region providing tangible benefits for all of our citizens and a promising future for our children and young people."
Work will now to continue to develop the necessary detailed business plans and advance the projects through planning and design.
(CM/MH)
Related Northern Ireland News Stories
Click here for the latest headlines.
16 August 2005
Council boost for local economic development projects
Belfast City Council is making £300,000 available to community organisations to help improve employability and create better economic conditions in areas of need.
Council boost for local economic development projects
Belfast City Council is making £300,000 available to community organisations to help improve employability and create better economic conditions in areas of need.
20 September 2002
Sustainable development does not mean 'sacrificing economic progress'
Recognising the importance of sustainable development does not mean sacrificing economic progress, the First and Deputy First Ministers said today.
Sustainable development does not mean 'sacrificing economic progress'
Recognising the importance of sustainable development does not mean sacrificing economic progress, the First and Deputy First Ministers said today.
14 January 2004
Industrial de-rating bad for economy warns Belfast City Council
Proposals to abolish the current policy of industrial de-rating will have a detrimental effect on the manufacturing sector and a knock on effect on the wider economy, Belfast City Council (BCC) has said.
Industrial de-rating bad for economy warns Belfast City Council
Proposals to abolish the current policy of industrial de-rating will have a detrimental effect on the manufacturing sector and a knock on effect on the wider economy, Belfast City Council (BCC) has said.
09 July 2010
Economic Development Boost For Belfast
Belfast has won a place in the last stages of a prestigious UK-wide enterprise contest. Invest Northern Ireland has announced Belfast City Council's Economic Development Unit as the winner of the NI heat of the Enterprising Britain 2010 competition.
Economic Development Boost For Belfast
Belfast has won a place in the last stages of a prestigious UK-wide enterprise contest. Invest Northern Ireland has announced Belfast City Council's Economic Development Unit as the winner of the NI heat of the Enterprising Britain 2010 competition.
31 January 2005
Green light given for Derry city hotel site
The regeneration of Londonderry city centre was given a significant boost today with the announcement that the Department of Social Development had repossessed the former City Hotel site in Foyle Street.
Green light given for Derry city hotel site
The regeneration of Londonderry city centre was given a significant boost today with the announcement that the Department of Social Development had repossessed the former City Hotel site in Foyle Street.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
