Last month, the Secretary of State for Northern Ireland, Karen Bradley MP, signed the Heads of Terms alongside the Belfast City Regional Deal partners and the NI Civil Service. The deal is expected to see the delivery of more than 20 projects to help create up to 20,000 new and better jobs, with an annual GVA impact of £470 million.
The partners include: The UK Government, Northern Ireland Departments (in the absence of an Executive), Queen’s University, Ulster University and 6 Councils.
A Joint Council Forum and a Programme Board supported by Steering Groups who will develop programmes in each of the Investment Pillars.
As Belfast City Council is expected to act as the lead authority and accountable body, the Council is currently putting the appropriate management structures in place.
Growth sectors targeted will include: Financial, Business and Professional Services; Agri-Food; Digital and Creative Technologies; Advance Manufacturing, Materials and Engineering; Life and Health Sciences; Tourism and; Construction and Materials Handling.
Funding includes £350 million from the UK Government, £100 million from partner councils, £50 million from the two Universities and if re-established, £350 million from the Northern Ireland Executive, totalling £850 million.
Will be enhanced by at least £150 million private sector investment, providing the Belfast Region City Deal with a 10-year £1 billion Programme of Investment.
The 22 proposed projects, which have been agreed in an investment plan are focused on four main Investment Pillars: Infrastructure, Tourism and Regeneration (totaling £450 million), Innovation and Digital (£350 million) and Employability and Skills (£30 million investment in an employability and skills package, including a City Deal Apprenticeship Programme).
Partners will work with the UK Government and NI Civil Service to develop a final City Deal Document; a financial plan; detailed implementation plan, incorporating monitoring and evaluation frameworks; and business cases for all projects.
Work to develop a communication strategy and operating protocol.