£126m Growth Deal funding welcomed

The £126m of Growth Deal funding pledged by the UK government for the Mid South West in Budget 2020 has been welcomed by the Chair of the Mid South West Steering Group.
Cr Cathal Mallaghan with DFM Michelle O’Neill, ABC CE Roger Wilson, Prof Gordon Matheson and Cr Robert IrvineCr Cathal Mallaghan with DFM Michelle O’Neill, ABC CE Roger Wilson, Prof Gordon Matheson and Cr Robert Irvine
Cr Cathal Mallaghan with DFM Michelle O’Neill, ABC CE Roger Wilson, Prof Gordon Matheson and Cr Robert Irvine

Councillor Cathal Mallaghan said it will play a crucial role in helping the region reach the ambitions set out in its new Regional Economic Strategy.

Due to be launched this month, the strategy is focused on increasing productivity and creating more and better paid jobs in the Mid South West Region in a collaboration between Armagh City, Banbridge and Craigavon Council, Fermanagh & Omagh District Council and Mid Ulster District Council. The Growth Deal support, announced by Chancellor Rishi Sunak in his budget, will be one of a number of funding streams levered to boost the region’s economic output by improving infrastructure, boosting the skills base, encouraging innovation and developing tourism.

Prime Minister Boris Johnston had previously announced the funding in summer 2019. The Chancellor’s Budget Statement 2020 was the first time the exact funding amount - £126m - had been confirmed. It cements the Regional Economic Strategy and marks a new period of growth for the Mid South West, which will allow businesses in the region to grow and improve prosperity for all its citizens.

Cr. Mallaghan said: “This announcement marks the next step in the Mid South West’s journey to economic prosperity. It, along with other funding streams, will play a central role in closing the productivity gap between this region and others here, and in doing so will boost prosperity for all. We have carried out extensive analysis into the Mid South West economy to explore where funding such as this can best be used to enable industry to thrive. We are looking forward to revealing our Regional Economic Strategy later this month and are committed to investing the Growth Deal funding as effectively as possible. In addition, we look forward to securing match funding from the Executive”.