£100m investment announced for Causeway Coast and Glens
Wed, April 24, 2024
Causeway Coast and Glens Borough Council is proud to announce a landmark agreement that will see some £100m invested in the Borough over the next 10 years. With anticipated Growth Deal funding of £36m from UK Government and the same from the NI Executive, alongside other partner contributions, this deal is set to shape the future trajectory of the region.
The formal signing of the Growth Deal, Heads of Terms agreement, represents 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: “Today’s event is the culmination of an enormous collective effort which began all the way back in 2019. Many institutions and individuals have contributed towards the development of a package of projects which represents the single largest Government investment in the Causeway Coast and Glens region.
“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.”
First Minister, Michelle O’Neill MLA said it was a great opportunity to showcase the City and Growth Deals initiative.
She added: “This is one of four deals covering the whole of the north with £1.3 billion capital investment over the next 10-20 years. Our four City and Growth Deals have the potential to increase the number of good jobs, promote regional balance and raise productivity which is the driver of improving living standards.
"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: “The projects that will be delivered through this deal will help improve infrastructure, create employment opportunities and upskill the local labour force.
“The increase in key transport links will also attract more visitors to this beautiful area, creating even more opportunities for economic activity and further positioning Causeway Coast and Glens as a ‘go to’ area for business and tourism.
“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.
“This will see 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 all benefit from this investment and bring exciting economic opportunities to the region and Northern Ireland as a whole.”
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.”
Today’s momentous gathering at Ulster University’s Coleraine Campus provided a platform for those attending to hear how our region will be transformed by this investment and highlighted the collective vision for a vibrant and prosperous Causeway Coast and Glens Borough.
Attendees had the opportunity to engage with key stakeholders, contribute to discussions shaping the region's future, and witness firsthand the signing of this historic agreement.
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.”
If you would like to read Causeway Coast and Glens Borough Council’s Heads of Terms document and find out which projects are being developed for your area, you can access it via https://bit.ly/3QhVqNL
Watch the Growth Deal Video at: https://bit.ly/3JwyhTM
