Secretary of State for Northern Ireland approves first City Deal for Northern Ireland
The Secretary of State for Northern Ireland, the Rt Hon Karen Bradley MP, has today signed the Heads of Terms for the Belfast City Deal, alongside the Belfast City Region Deal partners and the Northern Ireland Civil Service.
This is a major milestone towards the completion of the first City Deal for Northern Ireland.
The Belfast Region City Deal will see the UK Government invest £350 million into the Belfast Region over the next 15 years.
It is proposed that this figure will be matched by the Northern Ireland Executive once the devolved institutions are restored.
The City Deal will be further bolstered by co-investment of upwards of £150m from Belfast Region City Deal partners and investment by the private sector is anticipated to bring the total investment package to over £1 billion.
The Secretary of State for Northern Ireland, the Rt Hon Karen Bradley MP said, “I am absolutely delighted to sign the heads of terms for the Belfast City Deal today.
The UK Government has committed £350 million of funding to support and encourage economic development across the region, creating jobs and boosting prosperity.
I am also engaging closely with the Chancellor to secure a financial announcement for the Derry-Londonderry Region City Deal and help unlock the huge potential that Derry-Londonderry has to offer.
The UK Government is committed to developing a comprehensive and ambitious set of City Deals across Northern Ireland and delivering a stronger economy that works for everyone.”
It is hoped the deal will see the delivery of more than 20 projects to help create up to 20,000 new and better jobs alongside an increase in productivity levels, as well as having a positive impact on the most deprived communities, delivering a balanced spread of benefits across the region.
Newry, Mourne and Down District Council Chairman, Councillor Mark Murnin said: “The signing of the Heads of Terms is a significant step forward for the economic development and regeneration of our district and that of our BRCD partners. Locally it means that we can finalise details for our project proposals for the development of the Southern Relief Road, Regeneration of Newry City and the development of our Newcastle Gateway to the Mournes project. These projects, combined with the wider City Deal investment initiatives, will create jobs and bring economic investment and tourism into our district making it a better place to live and work for all our residents."
Communities Secretary, Rt Hon James Brokenshire MP, said, “This is tremendous news for the communities and businesses living and operating in the Belfast City region.
“This transformative deal will bolster innovation, productivity and prosperity across the region, and I am delighted to see the hard work which has gone into this deal come to fruition.”
The ambitious programme will help grow the region’s business strengths in life and health sciences; ICT, digital and creative industries, and advanced manufacturing. It will also support digital development and tourism-led regeneration across the entire region, underpinned by infrastructure developments and investment in skills to connect people to jobs and services.
For more information on the proposed programme of investment, go to www.belfastcity.gov.uk/belfastregioncitydeal and follow #BRcitydeal on Twitter.