Nearly £12 million of new funding for Bombardier has been
announced by the Chancellor during a visit to Northern Ireland
today to help the company secure long-term manufacturing jobs
in Belfast. The project will be part-funded by local partners
Invest Northern Ireland. The funding will support the company
to develop the thrust reverser for the new Airbus A320 NEO
nacelle - essential components for modern airplanes.
The Chancellor of the Exchequer, , said:
“We are backing Bombardier with £12 million of new money to
help develop cutting-edge technology - here in Northern Ireland
- for modern aircraft. This will help secure jobs for Northern
Ireland’s economy and cement the UK’s role as a leading
manufacturer of high tech aircraft components.”
“Northern Ireland is leading the way within the UK in
productivity growth. I want to support this progress by
inviting a bid for a Derry-Londonderry City Deal, an
opportunity for the region to continue to drive forward
economic growth and build an economy that works for everyone.”
Secretary of State for Northern Ireland, said:
"I am delighted with today's announcement, which is a positive
step in progressing a City Deal for Derry-Londonderry. It is a
testament to the many local partners who have worked tirelessly
for progress to be made.
“As Northern Ireland's second largest centre for economic
growth, Derry-Londonderry plays a significant role in the
region’s economic success.
“I look forward to now engaging with local partners and across
Government as proposals are developed and we build on the
existing strengths of this area to deliver a real impact on the
economy in the North West and across Northern Ireland."
Vice-Chancellor of Ulster University, Professor Paddy
Nixon said:
“I welcome the Chancellor’s announcement today that the UK
government is inviting local partners to submit proposals for a
Derry–Londonderry City Deal. I look forward to working with the
local council and others to bring forward ambitious proposals
for the government to consider.”
Today the Chancellor has also invited a City Deal bid for the
Derry-Londonderry City Region. This will give local councils,
universities and businesses the chance to submit plans to
government on their priorities for driving forward economic
growth and boosting productivity for the benefit of the
Derry-Londonderry city region and the whole of Northern
Ireland.
On his visit the Chancellor will tour Bombardier’s production
line for aircraft wings and welcome the new orders for 60 A220
announced last week at the Farnborough Airshow. Aerospace is a
key manufacturing sector for the UK, and Northern Ireland, and
it will be a vital part of the Industrial Strategy Sector Deal.
While in Belfast, the Chancellor will also meet with the
government’s FinTech envoy in Northern Ireland, Georgina
O’Leary, and major industry leaders in financial services. He
will also discuss how the Brexit White Paper will benefit
Northern Ireland.
Northern Ireland has seen a 14.2% increase in productivity
since 2010 – the fastest of all regions and nations of the UK.
The potential for further growth is being supported by
investment in Ulster University, which has benefitted from £50m
of UK government funding since 2015 for cutting edge research
and development (R&D). The UK government is also delivering
the biggest increase in R&D investment for 40 years.
[ENDS]
Notes to Editors
- The government is investing over £1.6 billion in city deals
in Scotland and Wales and is in negotiations for a Belfast City
Region Deal – the first City Deal in Northern Ireland.
