{"id":24420,"date":"2021-12-15T11:12:00","date_gmt":"2021-12-15T16:12:00","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=24420"},"modified":"2021-12-15T12:16:27","modified_gmt":"2021-12-15T17:16:27","slug":"1-32-billion-signed-off-in-deal-for-belfast-region","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=24420","title":{"rendered":"$1.32 Billion Signed Off In Deal For Belfast Region"},"content":{"rendered":"\n
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The Belfast Region City Deal has been described as transformative for the regional economy and local people (PA Images)<\/em><\/figcaption><\/figure>\n\n\n\n

The formal sign off of a \u201cmonumental\u201d \u00a31 billion ($1.32 billion) city deal for the Belfast region has been welcomed.<\/p>\n\n\n\n

The deal, first announced in 2019, includes \u00a3350 million ($462 million) in funding from Stormont and \u00a3350m from Westminster, and is set to fund 20 projects across six council areas.<\/p>\n\n\n\n

It aims to create 20,000 jobs over the next ten to 15 years.<\/p>\n\n\n\n

Secretary of State Brandon Lewis described the deal as an economic \u201cturbocharge\u201d.<\/p>\n\n\n\n

\u201cBuilt on a foundation of exceptional talent, creativity and innovation, it is no surprise that Belfast is already ranked in the top 25 tech cities in the world, and this funding, which will exceed \u00a31 billion, represents a significant opportunity for us to turbocharge the industries of tomorrow,\u201d he said.<\/p>\n\n\n\n

\u201cThe UK government and NI Executive have each committed up to \u00a3350 million to the BRCD and the BRCD partners will contribute a further \u00a3150 million. By leveraging additional private sector investment, the partners will deliver a program with an overall value well over \u00a31 billion.\u201d<\/p>\n\n\n\n

First Minister Paul Givan described it as a \u201cmonumental investment\u201d.<\/p>\n\n\n\n

\u201cAs an executive, we support the innovation and optimism which exists not just here in Belfast, but across the region. And we want to see Northern Ireland thrive,\u201d he said.<\/p>\n\n\n\n

\u201cOur four City and Growth Deals will help to tackle regional imbalance and allow for additional regional regeneration. They will deliver a balanced spread of benefits across Northern Ireland, expanding connectivity and improving the lives of all our citizens.\u201d<\/p>\n\n\n\n

Deputy First Minister Michelle O\u2019Neill said the Belfast deal will be \u201ctruly transformative for the regional economy and for the people of the area\u201d.<\/p>\n\n\n\n

\u201cThe scale of the investment reflects the enormous ambition, potential and capability, which is present throughout this whole region,\u201d she said.<\/p>\n\n\n\n

\u201cToday\u2019s milestone signing is a significant achievement for all the partners who have worked tirelessly to deliver this deal, and it is an excellent example of what can be achieved when we work together to co-design and co-deliver for the benefit of all our people.\u201d<\/p>\n\n\n\n

Finance Minister Conor Murphy added: \u201cThis \u00a31 billion investment is a game changer for the north.<\/p>\n\n\n\n

\u201cThe projects funded by this deal will create thousands of jobs right across the region. Social value criteria will be used in the award of contracts delivering strong social and environmental benefits including Living Wage jobs.\u201d<\/p>\n\n\n\n

Belfast Lord Mayor Kate Nicholl described a \u201cmomentous day for the Belfast region\u201d.<\/p>\n\n\n\n

\u201cThanks to cross-party political support, private sector backing and unprecedented levels of collaboration from all of the Belfast region partners, we\u2019ve succeeded in securing this significant, long-term commitment to transforming the NI economy in the sectors where we have the potential to become world leaders,\u201d she said.<\/p>\n\n\n\n

\u201cThe deal comes at a critical time, as we work to help local businesses and communities recover from the effects of the Covid-19 pandemic. A decade of opportunity starts now.\u201d<\/p>\n\n\n\n

Some of the proposed projects include a \u00a355m fund for Belfast region innovation and\u00a0a \u00a3300m investment for five industry centers of excellence across Northern Ireland in manufacturing, healthcare and media.<\/p>\n\n\n\n

There are also proposed regeneration projects for Bangor seafront, Hillsborough, Carrickfergus and Newry.<\/p>\n

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