Growth Deal

A City or Growth Deal is a bespoke package of funding and decision-making powers negotiated between the government and local authorities. They are aimed at helping to harness additional investment, create new jobs and speed up inclusive economic growth. They are models of economic growth which provide regions with the opportunity to:

• Take charge and responsibility for decisions that affect their area;
• Do what they think is best to help businesses grow;
• Identify priorities for economic growth in the region;
• Decide how funding should be spent to meet those priorities

Over the next few years, it is envisaged that Northern Ireland will benefit from a package of investment from four city and growth deals. The combined funding from the Northern Ireland Executive and UK Government will total £1.3bn, which will be complemented by the private sector and other sources of funding.

One of the four deals is the Causeway Coast and Glens Growth Deal. Our Growth Deal is anticipated to see Causeway Coast and Glens receive £72m capital funding after the NI Executive agreed to match fund the UK Government’s Growth Deal allocation.

The following objectives have been established for the Growth Deal:

1. Attract, support and grow more business, with a focus on export;
2. Position Causeway Coast and Glens as the ‘go-to’ region for both business and pleasure;
3. Regenerate some of the area’s smaller settlements into thriving and sustainable rural economies;
4. Improve key elements of the tourism transport network and tourism destinations;
5. Work with education and employers to raise aspirations and improve employability and skills.

The deal has identified three key themes/sectors to help grow the local economy and up to ten prospective projects, as follows:

• Tourism and regeneration;
• Infrastructure; and
• Digital & Innovation

The Growth Deal capital fund will be used to support digital and innovation projects. The NI Executive investment will focus additional funding on supporting infrastructure, tourism and regeneration along with employability and skills.

Where are we?

To date Council has approved a Growth Deal Governance Framework. This has established a Growth Deal Executive Programme Board and dedicated Programme Management Office which will enable initial decisions relating to the development of the project Strategic Outline Cases to be taken.

In line with Growth Deal criteria, it is critical that Council prioritise key catalyst projects over the next 10 years to help shape and grow our local economy. All projects must adhere to Councils’ four-stage decision-making process for capital projects with indicative timeframes outlined below:

Further details on the projects will be published when Heads of Terms have been agreed with Government in Spring 2024.

For further information please email the Growth Deal Programme Management Office.