Multi-Million-Pound Investment Announced for Causeway Coast and Glens
The Northern Ireland Secretary has described a multi-million-pound investment package for the Causeway Coast and Glens area as a "vote of confidence" in the region's future. The formal signing of the growth deal took place in Limavady on Wednesday, with Hilary Benn joining the first and deputy first ministers for the event.
The deal is anticipated to result in £129 million being invested across a variety of projects within the council area. The UK government has committed £36 million, matched by an equivalent £36 million from the Northern Ireland Executive. Additional funding will come from the council and private sector contributions.
The investment package is planned to be implemented over the next decade, targeting key areas such as tourism, regeneration, infrastructure, and innovation. Several projects are currently in development, including a centre for food and drug discovery at Ulster University in Coleraine and a business innovation and incubation hub also located in the town.
Speaking to reporters, Hilary Benn emphasized the collaborative nature of the investment, highlighting the partnership between Westminster and Stormont.
"This investment is an example of the partnership between Westminster and Stormont," Benn said.
First Minister Michelle O'Neill noted that the joint investment aims to address regional imbalances while creating jobs and opportunities for local communities.
"The joint investment will help address regional imbalance and create jobs and opportunities," O'Neill stated.
Deputy First Minister Emma Little-Pengelly expressed the intention to bring prosperity to all parts of Northern Ireland.
"We want to bring prosperity to every part of Northern Ireland," Little-Pengelly said.
Finance Minister John O'Dowd remarked that the multi-million-pound deal would contribute to the regeneration of towns and villages, making a "real, tangible difference" to communities in the Causeway Coast and Glens area.
"This multi-million-pound deal will help regenerate towns and villages and make a real, tangible difference to communities in the Causeway Coast and Glens area," O'Dowd commented.
Details of the Growth Deal Projects
The growth deal includes regeneration initiatives in Bushmills and Dungiven, as well as the establishment of an innovation centre in Cushendall. Plans are also underway for a leisure and wellbeing centre in Coleraine, alongside the development of a greenway connecting Portrush to Bushmills.
Across Northern Ireland, four city and growth deals are set to benefit from combined funding of £1.3 billion, provided by the Northern Ireland Executive and the UK government. This funding will be supplemented by private sector and other sources.
Causeway Coast and Glens Council has expressed its ambition to attract, support, and grow more businesses with a particular focus on export markets. The council aims to develop the area as a premier destination for both business and leisure, while regenerating smaller communities within the council area into thriving and sustainable rural economies.
The deal identifies three key themes or sectors to stimulate the local economy: tourism and regeneration; infrastructure; and digital innovation.
