UK and NI Executive Ministers sign financial deal for Derry and Strabane City Region

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Deal to invest £300m into Derry and northwest region signed

19 September 2024 - ERNACT project

Photo by Derry City & Strabane District Council

UK Government and NI Executive Ministers gathered at The Guildhall in Derry 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 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.

Secretary of State for Northern Ireland Hilary Benn said: “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."

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.”

For more info on the Derry & Strabane City Deal, visit www.derrystrabane.com/citydeal

Click here to email Maixa Zabaleta at ERNACT for further information

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