| answer text |
<p>Devolved Territory City Deals are locally developed proposals to address specific
regional economic challenges that result in long term funding commitments jointly
from UK Government, Devolved Government and local partners such as the Councils and
Universities. The intention is that the initiatives taken forward will lever in significant
private sector investment and deliver step changes in local economic productivity
and growth.</p><p>This Government has committed to a comprehensive and ambitious set
of city deals across Northern Ireland and at Autumn Budget, the Chancellor announced
a £350 million for a Belfast City Region Deal to boost investment and productivity,
generating jobs, growth and prosperity, alongside the opening formal negotiations
for a Derry/Londonderry and Strabane City Region Deal.</p><p>The Belfast Region have
estimated that their growth proposals could deliver almost 20,000 jobs, with an annual
GVA impact of £470million and create a Belfast Region that is not just self-sufficient
but a driver for a rejuvenated NI economy. Proposals for the Derry/ Londonderry and
Strabane City region deal are currently under development by local partners and will
also include an assessment on their potential effect on the economy of Northern Ireland.</p><p>
</p>
|
|
