The Department for Social Development, one of six funding parties has committed almost £1.7million through its Neighbourhood Renewal initiative to help facilitate the £5.1million project.
The regeneration of Conway Mill will enable it to be fully utilised in providing a centre for education and employment and at the same time preserve the historic nature of the mill buildings.
Welcoming the news, Minister Ritchie said: "Upon completion in spring 2010, this new facility will act as a catalyst for other economic development initiatives and investment. The project will also aim to create over 100 jobs within four years of refurbishment, giving a much needed boost to this area of the city.
"It will also give local people the confidence to implement their business ideas and to contribute to the regeneration of West Belfast and will provide ongoing employment and education opportunities."
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Other funders include the International Fund for Ireland, Heritage Lottery Fund, Integrated Development Fund, Department for Enterprise, Trade and Investment and Arts Council of Northern Ireland.
Denis Rooney, Chairman of the International Fund for Ireland added: "I am delighted that the fund will provide assistance of £970,849 towards the regeneration of Conway Mill.
"Ultimately, the work the fund is investing in now is part of our commitment to building a sustainable and lasting peace for everyone in our society. Without the support of our international donors we could not continue to fund projects such as the Conway Mill refurbishment."
The Heritage Lottery's Paul Mullan said: "Heritage Lottery Fund is delighted that Conway Mill will now be preserved for future generations, whilst enjoying new and innovative uses that will add value to the lives of the community."
Paul Carr, Head of European Programmes at the Department for Enterprise, Trade and Investment said:"The refurbishment and regeneration of Conway Mill is important in terms of the enterprise opportunities which this will realise for local small businesses."
Director of Operations of the Arts Council of Northern Ireland, Lorraine McDowell, said: "The Arts Council is funding a suite of artists’ studios, a workshop and gallery within this exciting Mill development, thus expanding the spaces and places where people can participate in art. "This provision of high quality professional arts infrastructure not only supports our talented local artists, but also contributes to the economic and social development of this area."
Jim Neeson, Chairman of Conway Mill Preservation Trust, said: "This regeneration project will enable all floor space within the Mill to be used and will create jobs for local people, and supplier opportunities.
"This would not be possible without the commitment, support and funds that have been provided by all the parties visiting the site this morning and I would like to express to them all the gratitude of Conway Mill Preservation Trust in their joining us in this venture."
(PR/KMcA)
