UK and NI Executive Ministers sign financial deal for Derry- Londonderry and Strabane City Region
18 September 2024
Over 6,000 new jobs could be created thanks to City Deal and Inclusive Future Fund
UK Government and NI Executive Ministers gathered at The Guildhall in Derry today to sign the Financial Deal for the Derry-Londonderry and Strabane City Region City Deal that will unlock in excess of £290m of investment in health, life science and digital projects, and help bring about transformational changes and benefits to the region.
The UK Government has provided £50m City Deal funding and £55m via the Inclusive Future Fund, which has been match funded by the Northern Ireland Executive with contributions by Derry City and Strabane District Council and its project partners of £83m.
The funding marks the single largest investment by the UK Government and NI Executive in this region, and today’s signing of the Financial Deal represents a significant step forward in the City Deal journey. This will ultimately enable progress and the successful delivery of key infrastructure, regeneration and tourism projects.
The Derry~Londonderry and Strabane City Region City Deal and Inclusive Future Fund will see more than £250m invested in the city and district with a focus on innovation, digital and health projects together with regeneration, tourism and renewal initiatives, creating up to 6,300 new jobs by 2033 and allowing the region to attract investment, enable regeneration and boost tourism.
The Derry~ Londonderry and Strabane City Region City Deal partners - Derry City and Strabane District Council, Ulster University, the North West Regional College, the Western Health and Social Care Trust and Clinical Translational Research Centre (C-TRIC Ltd) - have been working intensively with the NI Executive, UK Government and industry partners and are hugely proud of the success of this collaboration in reaching this landmark stage of the process following the signing of the Heads of Terms in 2021.
Today’s official signing of the Financial Deal sets in motion the next stages of the process for Council and its delivery partners to work to deliver the projects, once the full business cases are approved. The focus for the next phase of the City Deal is the detailed design and delivery. The signing of the financial deal will allow access to funding to undertake this work which will include a wider awareness and engagement process as the detailed designs are developed.
Among the attendees at today’s event were the First Minister, Michelle O’Neill; deputy First Minister Emma Little-Pengelly, MLA; the Secretary of State for NI, Hilary Benn MP and the Finance Minister Dr Caoimhe Archibald. There were messages of support from the Minister of Health, the Minister for Infrastructure, the Minister for Economy and the Communities Minister, acknowledging the significance of the event.
The Mayor of Derry City and Strabane District Council Cllr Lilian Seenoi Barr, who hosted the event, acknowledged the importance of the investment.
She said: “This is a momentous day for the Derry and Strabane region. Thanks to cross-party political support, private sector backing and unprecedented levels of collaboration from all the partners, we’ve succeeded in securing this significant, long-term commitment to transforming the NI economy in the sectors where we have the potential to become world leaders.
“This City Deal provides us with an opportunity to be vibrant and exciting, and to provide us with so much potential for growth and prosperity. Today, with the signing of the Financial Deal Agreement, we have reached a major milestone, unlocking £290m of capital investment from the UK Government, the Northern Ireland Executive and our local delivery partners.”
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.”
John Kelpie, Chief Executive of Derry City and Strabane District Council, on behalf of the delivery partners said: “This once in a generation City Deal would not have been possible without the successful collaboration between all of the partners involved who have worked tirelessly to get it over the line. This joined up approach has seen us using our resources, expertise and determination to secure this funding for our area so that we can make a real and positive difference to the lives of people who live and work here. The significant investment from the UK government and NI Executive with additional input from all the delivery partners allows us to leverage additional private sector investment to deliver a programme with an overall value well currently standing at £290m.”
The Mayor added that the City Deal will strengthen the region’s offer in growth sectors such as life and health sciences, digital and creative industries and will also support next generation digital capabilities, boost tourism by creating world-class visitor experiences and enable regeneration, underpinned by infrastructure developments and investment in skills to connect people to jobs and services.