Published Thursday, 02 February 2012
The plan was unveiled at the Waterfront Hall on Thursday and received cross-party support from Belfast City Council.
The programme is planned to operate from 2012 to 2015 and is expected to create hundreds of jobs.
First Minister Peter Robinson spoke at Thursday's announcement and said:
"The city of Belfast has an important role to play in the economic future of Northern Ireland."
Belfast has become one of most dynamic cities in the world & is clearly a city that has reinvented itself.
First Minister Peter Robinson
The multi-million pound investment includes £75m for council facilities in local communities, including pitches, playgrounds and the refurbishment of local facilities, such as parks.
The Mary Peters Track will get a £3m upgrade in the £20m of partnership projects which aim to contribute to the regeneration of the wider city.
Deputy First Minister Martin McGuinness was at the announcement and he said it marked a "very exciting day for Belfast city".
"This is an announcement of a vitally important infrastructural and employment project," he told UTV.
This is an example of a united council fighting against the recession.
Deputy First Minister Martin McGuinness
Belfast City Council will invest around £100m from its own coffers, with £50m more expected from European funding pots and support from the Stormont Executive.
Of the council's share, £20m will be generated from an anticipated 2.6% rise in rate bills.
The Waterfront Hall will also get a facelift under the investment strategy with a £20m extension of the building.
The three-year capital programme will also see work on a green economy business park on the North Foreshore site and an innovation centre in Springvale in the west of the city.
While the blueprint will create a guaranteed 200 jobs within the council, the projects earmarked for investment are expected to generate hundreds more during construction.
Peter Bunting from the Irish Congress of Trade Unions said: "This will aid civic infrastructure and boost employment in hardest hit sector - construction.
"This is a great achievement of political leadership. The trade union movement commends this project."
The 12 week consultation document, which can be viewed on the council's website, was released on Thursday.
Alan Clarke, The Chief Executive of the Northern Ireland Tourist Board, welcomed the plans.
"A vibrant, dynamic city that welcomes visitors and provides them with a quality experience is vital to the overall economic health not just of Belfast but of Northern Ireland as a whole.
"I am delighted that Belfast City Council has placed tourism at the heart of its economic strategy for the next three years, just as tourism is gaining rightful recognition as an engine of our economy on a national level".
He concluded: "I commend the vision for tourism contained within this Investment Programme which recognises that the significant levels of investment in the city over the past three years will require ongoing support and imagination to maximise wealth and job creation for those who live here."