Mayor of Derry City and Strabane District Council Cllr Michaela Boyle has welcomed the announcement by the Department for Finance that it is to match fund the City Deal and Inclusive Future Fund of £105m, bringing the totality of funding to £210m.
Mayor Boyle said the investment would be transformative for Derry, Strabane and the wider North West region and would go a considerable way towards addressing the long-standing obstacles to economic development that the city and district continue to face.
She commented: “This is fantastic news for the city and region and will provide the Council with the mechanism to work with its partners to successfully drive new investment, stimulate growth and attract jobs. The City Deal has the ability to transform this region by bringing about investment in urban regeneration, education and skills, infrastructure and tourism with a core focus on innovation.
“This financial package of £210m between the City Deal and Inclusive Future Fund is significantly important in helping to realise the vast economic potential of the entire region. The City Deal project is hugely important for Derry, Strabane and wider North West region, having received cross party support and acknowledgment of its significance to the North West and to the North as a whole.
“A significant amount of work has been done on this over past number of months as Council, elected representatives and stakeholders worked in close collaboration to secure the match funding that will allow us make these plans become a reality.
“I would like to acknowledge the work done by everyone involved in getting this over the line and look forward to continue to work together to progress with a pathway to bring the City Deal forward to the next stages.”
John Kelpie, chief executive with Derry City and Strabane District Council said council was committed to work with Government to bring forward the City Deal to the next stage, including the signing of the Heads of Terms.
He said, “Council is committed to working in partnership with Government and stakeholders to deliver on these key catalyst regeneration projects that will bring about growth and prosperity for Derry and Strabane and the wider North West region.”
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