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A sought-after expansion project at Ulster University's Magee campus has secured a major boost after a £105 million economic investment was announced for the Derry City and Strabane City Region.
The UK Government's investment includes a £50m City Deal and a £55m Inclusive Futures Fund.
Derry City and Strabane District Council led the City Deal bid along with the support of a wide range of local education, business and economic partners. It will focus on education, innovation, job creation and skills development, as well as the expansion and growth of the Magee campus.
The investment package will enable planning and business case development to now proceed on proposals for a significant landmark riverfront university medical education and innovation hub, comprising a graduate entry medical college and centres of innovation, research and teaching excellence in data-driven personalised medicine, cognitive analytics and robotics and automation, eventually delivering over 200 new posts/research assistants at the City's university and upwards of 2,000 additional students.
Mayor of Derry City and Strabane District Council, Councillor John Boyle said: "This hugely significant announcement today for the Derry and Strabane District will go some considerable way in addressing the long-standing obstacles to economic development that this City Region and its people face. It is good news and is the result of an enormous amount of work and sustained effort invested by Council and the City and Regional partners to develop, deliver and negotiate on the bid."
It is anticipated that the UK Government investment package will be at least matched by a similar commitment from the NI Executive and further investment from project partners, bringing the total investment to over £300m.
Council Chief Executive, John Kelpie added: “The next steps will now be for everyone to continue to work together to develop the necessary detailed business plans and advance the projects through planning and design. We will do this by using this unprecedented opportunity to promote the future of this City and District as a location of choice for all in terms of business, lifestyle and ambition."
(CM/MH)
