Belfast submits £1bn City Deal proposal
Belfast has submitted its proposals for a 'City Deal' worth over one billion pounds ahead of the Chancellor's budget.
Belfast city and surrounding councils are hoping Chancellor Philip Hammond will give the green light for the bespoke investment, similar to others around the UK.
Six councils along the eastern side of Northern Ireland, universities, and higher education institutions believe they can deliver 20,000 jobs if the 10-year deal is secured.
The envisaged deal, submitted to the Secretary of StateKaren Bradley, focuses on four key investment pillars; digital and innovation; infrastructure; tourism-led regeneration; and skills and employability.
The proposals ask the UK government for £450 million in the upcoming budget as part of the deal.
The terms set out that the same amount would be match-funded by Stormont.
Speaking to UTV, Belfast Lord Mayor Deirdre Hargey said she believes the money would be released by the Northern Ireland Executive despite the fact there is currently no devolved assembly here.
She said: "We have Executive Departments which are functioning, we've been engaging with those Executive Departments and also with all of the political parties who are behind this City Region Deal for Belfast and the neighbouring councils and I am confident that that money can be released."
The Belfast Regional City Deal envisages:
establishment of a Global Innovation Institute focusing on already successful sectors in the city, including cybersecurity, financial services, healthcare and agri-food.
creation of further centres of innovation focused on manufacturing, creative industries and life and health sciences.
investment in digital connectivity to enable businesses across the region to connect to new markets and opportunities.
investment in new tourist attractions to attract both domestic and international visitors. This will include a new landmark venue in Belfast to tell the story of the city; development of facilities at Hillsborough and Carrickfergus castles; an extension of the Gobbins coastal path; the regeneration of Bangor seafront; and a focus on bringing more visitors into the Mourne mountains and Ards Peninsula/Strangford Lough.
extension of Belfast's Rapid Transit System to take in outlying districts.
delivery of an extensive employability and skills programme, incorporating apprenticeship schemes, with a specific focus on digital skills.
The six councils taking part in the pitch namely, Antrim and Newtownabbey; Ards and North Down; Belfast; Lisburn and Castlereagh; Mid and East Antrim; and Newry, Mourne and Down would each contribute £100,000 towards the deal, with the universities involved promising to add further investment to the pot.
The bid team hope Mr Hammond will sign off on the general outline of the deal in the October 29 Budget, locking in a firm Treasury funding pledge and paving the way for further work on the individual elements of the strategy.
Mayor Hargey said she's confident the proposals will be approved.
She said: "This is a good news story that we have got this far, we just need another four weeks for that announcement to be made, and I am confident that an announcement will be forthcoming."
Londonderry is also currently working to secure a city deal that would helpdrive investment in the north west.