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In addition to the £210million funding being provided equally by the Executive and the Westminster Government, a further £40million investment from Derry City and Strabane District Council and its delivery partners means the region is set to benefit from a £250million economic package.

The transformative investment will bring massive benefits to the North West and today’s signing reflects the shared commitment to continued progress on this important investment plan.

First Minister Arlene Foster said: “Today marks an important milestone in the progress of the City Deal.

“There is a real sense of vibrancy and ambition in the North West. The Executive is working with the UK Government, the Council and a wide range of stakeholders to turn that potential into reality through collaboration and innovation.

“As the many projects under this project come to fruition, we hope to see benefits not just in Londonderry and Strabane, but right across Northern Ireland.”

Economy Minister Diane Dodds said: “The City Deal investment of over
£200 million will be a huge benefit to the economy. I commend the
Council for its ambition to create world class industry focussed
research centres in the city in the areas of robotics, Artificial
Intelligence and precision medicine. Together these proposals will
provide new opportunities creating better jobs which will support
sustained economic growth for the region and wider benefits to Northern
Ireland.”