Region City Deal welcome for regional economic boost
Infrastructure Minister Nichola Mallon has welcomed the signing of the Heads of Terms for Derry~Londonderry and Strabane Region City Deal.
Addressing a virtual event organised by Derry City and Strabane District Council to mark the signing of the Head of Terms Minister Mallon said:
“It is great to finally see this progress on the long awaited City Deal for Derry City and Strabane. This is a significant milestone for the people of Derry and the North West. It is a positive day and an important juncture for the Council and its City Deal partners. People across the City and the wider North West have felt let down and left behind for too long. I know the community has been behind the fight for the City Deal, and this moment belongs to them. After decades of underinvestment, the North West now needs our support and our ambition to help it thrive. That means we need to use all levers to tackle regional imbalance, promote economic development and inclusive growth.
True potential
“The Deal and Inclusive Future Fund will promote regeneration, tourism, jobs and skills development and allow Derry and the North West to grow and help unlock the region’s true potential. With the challenges of Covid and Brexit, the context of this City Deal has undoubtedly changed and this investment is needed more than ever.
“I am pleased that my Department will be working on the delivery of the Derry Riverfront development and the development of the Strabane Town Centre Regeneration proposals. These regeneration and renewal projects will transform the built environment for both citizens and visitors, and in turn will support tourism, promoting the North West as an exciting destination to visit, to work, live and thrive in.
Recovery
“As part of our work to support a green recovery from Covid, the commitment to Green Transformation is another important commitment in the Deal and I know that people right across the North West want to see this transformation – not just rebuilding after Covid – but rebuilding better – so that we can tackle together the climate crisis and create a greener, cleaner, more sustainable future.
“As Minister for Infrastructure, I recognise the importance of the North West to our all island economy – especially with the links to Donegal and there are untapped opportunities that we need to seize. Collectively, in partnership, through government and community – we can, and we must work to transform our economy and grow all island opportunities that benefit everyone in society not just some. For the North West we have to be ambitious and we have to recognise that the City Deal is one part of the puzzle but there is much work to do. That is why in addition to the role my Department will have in delivering the City Deal, I have committed to a number of key infrastructure projects on rail connecting the North West to our wider island, the A6, the A5, investing in greener spaces including for active travel and the multi-model transport hub.
£250m package
The investment package of £250 million comprises a commitment by the UK Government of £50 million City Deal and £55 million Inclusive Future Fund; £105 million match funding by the Northern Ireland Executive; and contributions by Derry City and Strabane District Council and project delivery partners of a minimum of £40 million.
Welcoming the signing of the £250m Derry City and Strabane District City Deal, Retail NI Chief Executive Glyn Roberts said: “This is a very welcome announcement which will be a significant economic boost for Derry, Strabane and the wider economy in the North West”
“Retail NI has long championed City and Growth Deals as an important catalyst for the regeneration of our town and city centres. In particular, it is good to see the regeneration of Strabane town centre as a priority in this deal”.
