News story

Chancellor announces £12 million for Bombardier and invites Derry-Londonderry city deal bid

The Chancellor visits Northern Ireland to help the company secure long-term manufacturing jobs in Belfast.

Nearly £12 million of new funding for Bombardier, has been announced by the Chancellor during a visit to Northern Ireland today (25 July 2018) 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, Philip Hammond, 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 to 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, Karen Bradley 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 £50 million of UK government funding since 2015 for cutting edge research and development. The UK government is also delivering the biggest increase in research and development investment for 40 years.

Further information

  • 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.
Published 25 July 2018