NI’s first City Deal signed today, unlocking £1 billion of co-investment for the Belfast region

This is a momentous day for the Belfast region. Thanks to cross-party political support, private sector backing and unprecedented levels of collaboration from all of the Belfast region partners, we’ve 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. The 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.

The Belfast region is vibrant and exciting, bursting with potential. Today, with the signing of the Full Deal Agreement, we have reached a major milestone, unlocking £350 million of UK Government capital investment in digital and innovation projects. This funding will be matched by the Northern Ireland Executive.

Built 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 £1billion, represents a significant opportunity for us to turbocharge the industries of tomorrow.

The UK Government and NI Executive have each committed up to £350 million to the BRCD and the BRCD partners will contribute a further £150 million. By leveraging additional private sector investment, the partners will deliver a programme with an overall value well over £1 billion.

Brandon Lewis, Secretary of State for Northern Ireland

It is, by any measure, a monumental investment when you look at the overall figures. But it is more than justified when you consider the outcomes.

We’re funding the great potential that exists here, and the promise of a brighter, better tomorrow. As 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.

Our 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.

Paul Givan, First Minister

City Deals are an investment in our future. The Executive is committed to realising the economic potential they offer and maximising the opportunities they present for all.

The Belfast Region City Deal will be truly transformative for the regional economy and for the people of the area. The scale of the investment reflects the enormous ambition, potential and capability, which is present throughout this whole region. Today’s 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.

Michelle O’Neill, Deputy First Minister

This £1 billion investment is a game changer for the north. The 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.

Conor Murphy, Minister for Finance

This once in a generation Deal simply couldn’t have been realised without the genuine common purpose and focus evidently demonstrated by all of the partners. When we pull in the same direction we achieve so much more. We’ve drawn on our collective expertise, resources and influence, we’re playing confidently to our regional strengths - and I think we’re spearheading a new way of public-private sector working which will make a really positive difference to people’s lives here.

Suzanne Wylie, Chair of the Belfast Region City Deal Executive Board