AQO 391/22-27

Mr Jonathan Buckley
Democratic Unionist Party
Upper Bann

Tabled Date: 25/04/2024
Answered On Date: 07/05/2024
Priority Written: No

Question:
To ask the Minister of Finance for an update on the progress of funding initiatives as part of the City and Growth Deals.

Answer:

There has been significant progress across the four City and Growth Deals. Positive milestones have already been achieved this year, with more to come.

The Belfast Region City Deal is in delivery phase. Legally binding Contracts for Funding have been signed for nine projects, with a further six due in the coming months. Planning permission has already been granted for some projects and construction has started on the Advanced Manufacturing Innovation Centre in Newtownabbey.

The Derry City and Strabane District Council City Deal is preparing for Deal signing in summer 2024.

The Causeway Coast and Glens Growth Deal signed Heads of Terms last week, and it will now begin work on Outline Business Cases to progress towards Deal signing.

The Mid South West Growth Deal is working toward signing Heads of Terms in autumn 2024.

To date, £9.1 million has been drawn down, with an anticipated spend of £56.8 million in the 2024-25 financial year. This includes City Deal funding from both the Executive and the British Government, as well as Inclusive Future Fund and Complementary Fund.