City Deal agreement: Great news but 'more must be done' to help local economy - Colum Eastwood

Foyle MP Colum Eastwood has welcomed today's City Deal progress for Derry – but said 'more must be done' to help the local economy.

Today will see a major step forward in plans for a £250m investment in the Derry City and Strabane District Council area.

The City Deal proposal involves huge amounts of money being pumped into a wide range of local projects, including major expansion of the Magee campus and the transformation of Derry's riverfront area.

The City Deal has been described as the largest ever government investment in the local area.

This morning, all the agencies involved will hold a virtual meeting to sign a Heads of Terms Agreement.

Such an agreement is seen as a commitment from all those involved to take the proposal forward.

Read more details here - http://bit.ly/3pPojQY

Mr Eastwood welcomed the Heads of Terms Agreement but added that delivery from the British government and the Northern Ireland Executive, as well as further investment, is needed to transform the north west’s economy for the future.

“The City Deal is a significant step forward in building this city’s economy and will no doubt benefit the entire northwest region,” he said.

“The SDLP has been arguing for a City Deal for Derry in Westminster, the Northern Ireland Assembly and at local government level for years, starting with Mark Durkan when he was Member of Parliament for Foyle.

“It is clear that there are exciting projects involved in this City Deal that will begin the transformation of Derry’s economy, with the hope that this help will create new jobs for our people and allow them to build a life here.

“The City Deal is a great start and should be seen as the beginning of the transformation of the northwest’s economy- not the end.”

The Foyle MP said work needed to continue to attract high quality jobs to Derry and to make the north west region an attractive place to work remotely in a fast-changing global economy.

“We need to see an expanded, full-scale university in Derry with over 10,000 students and the right kind of courses to attract and maintain students to our city and region.

“Only with this further investment can we put an end to the exodus of our young people having to go elsewhere for education and career opportunities.

“It is our hope that the City Deal, coupled with the all-island infrastructure approach spearheaded by Minister Nichola Mallon, can be the beginning of a real economic and societal change for the northwest of Ireland."