Irish government funding to expand the Magee campus of Ulster University in Derry should "address long-standing regional disparities and inequalities" in the North West, local businesses believe.
The Taoiseach Leo Varadkar alongside coalition partner and Tanaiste Micheal Martin announced a €56million 'Shared Ireland' funding package on Tuesday, with €45million set aside specifically for the expansion of Magee.
The news has been hailed by Sinn Fein vice president Michelle O'Neill, the Londonderry Chamber of Commerce, and a host of other figures.
Read more: Ulster University's Magee campus gets €56 million funding boost from Irish government
Chamber president Selina Horshi said: “This is a very positive announcement from the Department of the Taoiseach. The Chamber warmly welcomed the creation of the Shared Island Fund and Shared Island Initiative and made the case strongly that these funds should be used to address long-standing regional disparities and inequalities in Derry and the North West.
"This is a significant capital investment which will support Ulster University in its ambitions to grow student numbers in our city."
She continued: “More students means greater investment, jobs, productivity, wealth and ultimately prosperity in our region. By expanding upon and upgrading Magee’s already excellent estate of labs, libraries, and study spaces, the campus will become an even more attractive option for prospective students who will come and study and live in our city."
She added: "We look forward to construction beginning as soon as possible at the campus as we collectively seek to promote Derry and the North West as a place to invest, do business, work, and live.”
Sinn Fein Stormont leader Michelle O'Neill, meanwhile, said: “Confirmation that the Irish Government will provide capital investment of €45 million to help build a new student and teaching building at Ulster University’s Magee campus is welcome news.
“This new building will see the delivery of first-class teaching facilities for lectures and seminars, as well as new computer labs and other services for students who are studying in the city."
She continued: “Today marks another hugely significant investment from the Shared Ireland Unit that will provide a major step towards transforming the Magee campus and boosting student numbers.
"Expanding the facilities at Magee will also help to strengthen cross-border education by making the Magee campus more accessible to students from Donegal, and working to deepen educational links with LYIT in Letterkenny."
The Mid Ulster MLA added: “The expansion of Magee University is a priority for Sinn Féin, and key to unlocking the huge economic opportunities that exist in the north west.
“I also welcome the announcement that the Irish government’s Shared Island fund is investing in the tender for the Narrow Water Bridge, a respite and therapeutic centre for children with cancer and their families, a new all-island Youth Forum, and the construction of two bio-economy demonstrators.
“This investment by the Irish government shows the potential of what can be done to deliver on the huge economic opportunities when governments and parties work together.
“It points up again the need to have the Executive restored now so we can work together to maximise those opportunities and potential, continue to promote regional balance and ensure that the expansion of Magee University is fully completed.”
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