The UK government and Northern Ireland executive ministers have signed a financial deal for the Derry-Londonderry and Strabane city region that will unlock more than £290m of investment in health, life science and digital projects.
The UK government has provided £50m through the city deal funding mechanism and £55m via the Inclusive Future Fund. That has been match-funded by the Northern Ireland executive with £83m of contributions by Derry City and Strabane District Council and its project partners.
The funding will enable progress and the successful delivery of key infrastructure, regeneration and tourism projects, with more than £250m invested in the city and district.
Lilian Seenoi Barr, mayor of Derry City and Strabane District Council, said: “This is a momentous day for the Derry and Strabane region. 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.”
Secretary of State for Northern Ireland Hilary Benn added that the deal would provide support to a number of important initiatives that 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, said Benn.
“Exciting projects such as the £39m new combined cognitive analytics and digital robotics centre 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 look forward to seeing the positive impact this investment will have on local people and businesses,” he added.
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