The UK Government has announced growth deals for the Causeway Coast and Glens and Mid South West regions will go ahead following Wednesday’s Budget.
Funding for both deals was paused in early September pending a pre-Budget review by Rachel Reeves’ Treasury department.
But speaking in the House of Commons on Wednesday, the Chancellor confirmed both deals will now go ahead.
The deals involve £252 million in central government funding over 15 years for the Mid South West region, and £72m for Causeway Coast & Glens, with responsibility shared between London and Stormont.
Treasury documents state £162m will be allocated for both projects, indicating the full allocation of London’s original commitment.
Stormont Finance Minister Caoimhe Archibald has welcomed the move.
“I am glad that common sense has prevailed and the right decision has been made to allow these game-changing growth deals to proceed for these regions,” she said.
“The announcement that the funding pause for both the Causeway Coast and Glens and Mid South West growth deals has been lifted is great news.
“These deals are a key driver to boost economic development and deliver regional balance.”
In a joint statement, the Mid South West Region and Causeway Coast and Glens Borough Council hailed a positive outcome.
“We welcome the news that the UK Government will stand by its funding commitments to the Mid South West and Causeway Coast and Glens growth deals,” they said.
“This is a very positive outcome which means that we can move forward on the development of our key innovation, green energy and decarbonisation projects designed to boost the economy in these regions.”
They added: “Work on projects including the £22 million Centre for Food and Drug Discovery (CFDD) in the Causeway Coast and Glens Borough Council area as well as the Industrial Decarbonisation Programme and Agri-food Robotics Automation Packaging Innovation Centre in the Mid South West Region can now go ahead, with the potential to create millions of pounds in return investment as well as thousands of jobs in these areas.
“These growth deals are crucial to delivering on the UK Government’s clear priority for sustainable economic growth and the NI Executive Economic plan to boost regional economic performance by delivering good jobs, increased productivity and reduced carbon emissions.
“We look forward to engaging with the Northern Ireland Office in the coming weeks to progress these deals to their respective next stages.”
