Derry and Strabane District Council in Northern Ireland has secured their largest investment from the UK Government and the Northern Ireland Executive to develop the region's health, life science and digital opportunities.
Over £290 million is being invested in the region, with the funds coming from a range of partners.
The UK Government's City Deal programme will provide £50 million in funding, and a further £55 million will come from the Inclusive Future Fund. The Northern Ireland Executive will match the funding.
A further £83 million will be invested by Derry City and Strabane District Council and its project partners. As the largest single investment into the region by both the UK government and Northern Ireland Executive, the programme will also deliver new infrastructure, regeneration and tourism to the region.
The focus on digital, innovation and health projects is estimated to create 6,300 new jobs by 2033 in the region. A combined Cognitive Analytics and Digital Robotics Centre will receive £39 million in funding as part of the programme, and a new school of medicine/personalised medicine dentre will develop research capabilities at the Magee Campus of Ulster University.
"This is a momentous day for the Derry and Strabane region," said Mayor Lilian Seenoi. "Thanks to cross-party political support, private sector backing and unprecedented levels of collaboration from all the partners, we've succeeded in securing this significant, long-term commitment to transforming the NI economy in the sectors where we have the potential to become world leaders."
Secretary of State for Northern Ireland Hilary Benn added: "It's going to provide support to so many important initiatives which will positively impact the lives of local people, including the regeneration of the waterfront in Derry and of Strabane town centre."
