£100m investment announced for Causeway Coast and Glens
The Causeway Growth deal is one of four deals covering NI
The Causeway Coast and Glens Borough Council has announced an estimated £100m pounds is set to be invested in the Borough over the next 10 years. It follows the formal signing of the Growth Deal, Heads of Terms agreement this morning (Wednesday) in Coleraine.
The Growth Deal, aims to transform the area's tourism offering and address infrastructural challenges. The Deal’s projects are also set to bring new industry to the Borough, providing high-skilled, high-paid employment opportunities.
The funding is made up of £36m from the UK Government and the same from the NI Executive, alongside other partner contributions.
The deal includes projects such as the Centre for Food and Drug Discovery at Ulster University in Coleraine, the Business Innovation and Incubation Hub at Atlantic Link and the Innovation Hub at North West Regional College.
Today’s signing of the deal has been hailed a “significant milestone” in advancing the economy of the Causeway Coast and Glens Borough.
The official launch took place at Ulster University’s Coleraine Campus this morning and brought together influential leaders, dignitaries, and stakeholders to celebrate collaborative efforts towards sustainable growth and development.
Notable attendees included the First Minister, deputy First Minister of Northern Ireland, the Parliamentary Under-Secretary of State for Northern Ireland and the Finance Minister underscoring the importance of this moment for our community.
The Mayor of Causeway Coast and Glens Borough Council, Councillor Steven Callaghan noted the importance of the investment for the future prosperity of the Borough and its citizens.
He stated: “This Growth Deal also demonstrates Council’s commitment to collaborative working. Through a programme of regeneration, we aim to transform our tourism offering and address some of our infrastructural challenges. Our Deal’s innovative projects will bring new industry to our Borough, providing high-skilled, high-paid employment opportunities for our young people.
“This is just the beginning of our journey, and I would like to personally thank all of our delivery and funding partners for helping us get to this stage.”
The Causeway Growth deal is one of four deals covering NI with £1.3 billion capital investment over the next 10-20 years. The four City and Growth Deals have been striving to increase jobs, promote regional balance and raise productivity.
First Minister, Michelle O’Neill MLA said it was a great opportunity to highlight the City and Growth Deals initiative.
She added: "The deals are helping to create a more dynamic and competitive economy here. Importantly, the deals will have a positive impact on the quality of life for so many including our young people, our businesses, and the many visitors who flock to the Causeway Coast and Glens.”
Deputy First Minister, Emma Little-Pengelly MLA reaffirmed the Executive’s support for the City and Growth Deals initiative.
She said: “This multi-million-pound investment is a great example of government, business and academia working together to tackle issues and make a real difference.”
Lord Caine, Parliamentary Under Secretary of State for Northern Ireland said he was honoured to sign the Heads of Terms document, adding: “This Deal has the potential to provide further economic benefit, innovation, and more employment for this fantastic region. I hope it can take us one step further to Northern Ireland being the best place in the world to invest.
“The UK Government is committed to ensuring this area thrives, which is why we are investing £36 million to support projects which build on the region’s digital and innovation capabilities.
Minister of Finance, Dr Caoimhe Archibald MLA described the signing of the Heads of Terms document as “a significant milestone,” adding: “Growing up in Coleraine, and now calling the area home, I know the positive impact this funding will have. The substantial injection of £100million into the Causeway Coast and Glens region is a game-changer for the area.
“The exciting and transformative projects that make up the Growth Deal will shape infrastructure, create job opportunities, and further increase the skills base. The Causeway Coast and Glens Growth Deal will produce a legacy for generations to come from Cushendall in the east right across the Borough to Dungiven in the west, the benefits will be felt right across the region.”
Professor Paul Bartholomew, Vice-Chancellor, Ulster University said: “The Causeway Coast and Glens Growth Deal represents an opportunity for transformation for the Coleraine and North Coast area. It is a tremendous opportunity for us all to take the next step, driving forward the innovative ideas that will deliver economic growth for this incredible region. As a strategic partner, we are delighted to host this important event at Ulster University Coleraine, marking this important milestone in the Growth Deal process.
“Ulster University will work collaboratively with the Council and other stakeholders to deliver innovation projects and continue to develop a pipeline of talented and innovative graduates, both of which will play a significant role in the development of this region.”
You can access the Causeway Coast and Glens Borough Council’s Heads of Terms document and find out which projects are being developed for your area here.
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