Derry & Strabane allocated £5.15m – the highest in the North – by Murphy as part of plan to drive economic growth

The funding was announced by the Economy Minister Conor Murphy this week.

Last year Mr. Murphy’s Sub-Regional Economic Plan proposed the establishment of Local Economic Partnerships (LEPs) made up of central government, the business community, universities and colleges, local enterprise agencies, and civil society.

The aim of the LEPs was, he said last autumn, to identify barriers to economic growth locally and prioritise interventions.

Mr. Murphy said £45m would be set aside to fund LEPs over three years. This week he has announced that DC&SDC is to receive £5,151,000 – the largest allocation of any district.

Sinn Féin Councillor Sandra Duffy said: “This is another hugely welcome investment in this region by Sinn Féin Economy Minister Conor Murphy.

“This will enable the council to establish a Local Economic Partnership, bringing together central government, the local business community, universities and colleges, local development agencies and wider civic society.

“Working together, we can address areas of common concern and focus on improving the local economy and creating jobs and investment throughout the region.”

The Minister announced the allocations at the first meeting of Newry, Mourne and Down’s LEP.

The Minister said: “I recently launched the Sub-Regional Economic Plan which sets out a new strategic approach to economic development; locally led and with a mission to deliver regional balance. A key element of the Plan is the establishment of Local Economic Partnerships at council level.

“Partnerships will identify the main barriers to economic development and the priority interventions that will build the region’s value proposition. My Department will recalibrate its programmes and budget to help meet these priorities. Partnerships will also have additional dedicated funding to support local action.

“This £45m Regional Balance Fund will help fund the actions the Partnerships bring forward to drive economic development in their area and help deliver a regionally balanced economy where everyone shares the benefits of prosperity.”

Supported by the Department and Invest Northern Ireland, each of the Partnerships will now develop proposals in line with Minister’s economic plan of creating good jobs, increasing productivity, improving regional balance and decarbonisation.

The Minister added:

“I firmly believe local issues require local solutions and the Department and Invest NI will champion and support councils in the delivery of this important work.”

Alan McKeown, Executive Director of Regional Business at Invest NI said: “These LEPs are crucial to delivering a locally focused approach to economic development and delivering on this commitment.

"They will ensure all stakeholders are working together to unlock significant opportunities for businesses in their area. We will work closely with councils and local stakeholders to develop impactful proposals that will drive sustainable economic growth and deliver lasting benefits for our communities.”

Speaking on behalf of Solace NI, its Chair Marie Ward said: “LEPS will have the tools to place regional balance at the centre of their ambitions, shaping economic priorities that will deliver capital investment against the Department’s ambitions of creating good jobs, delivering increased productivity, decarbonisation, and addressing sub regional disparities across Northern Ireland.”

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