A £110 million plan to transform Mid Wales has been signed off by the UK and Welsh Governments.

The Mid Wales Growth Deal reached a significant milestone today (Tuesday, 22 December) as Heads of Terms were signed by by the Welsh Government, UK Government and the local authorities involved – Powys and Ceredigion Councils.

The deal commits both the Welsh and UK Governments to each back the growth deal with a £55m investment.

The partners in the deal will now move on to identifying specific projects which would benefit from investment, and eight broad areas have been identified.

In a joint statement, the leaders of Ceredigion and Powys County Councils, Cllrs Ellen ap Gwynn and Rosemarie Harris, said “This is a significant milestone for us in Mid Wales, showing the dedication and commitment to the region of all partners – and is a very positive development at the end of a very difficult year.

“The hard work however, starts now. The next year will be crucial in laying the foundations for delivering a Growth Deal for the next 15 years together with the businesses and communities of Mid Wales. It will be crucial to use this as an opportunity to deliver and leverage significant investment into the regional economy, catalysing further investment from the private and wider public and third sectors.

“We’d both like to thank both Governments, our private sector partners and the many partners and stakeholders in the region that have supported us thus far, and look forward to shaping the proposals in earnest shortly.”

Deputy Minister for Economy and Transport Lee Waters said: “This is an important day for Mid Wales. I’m pleased to have signed the Heads of Terms which now commits us all to work together on the next stage of the growth deal.

“This year has been incredibly difficult and challenging for all of us, with businesses particularly affected. The growth deal will be an important factor in dealing with the on-going impacts of the coronavirus pandemic on the economy, and it’s good to see everyone coming together to make this initiative a success.”

Secretary of State for Wales Simon Hart said: “The UK Government is working to bring greater investment and growth to communities across Wales and today’s signing represents real progress in achieving those aims.

“The Mid Wales Growth Deal is a significant opportunity to transform the region. We will build back better from the pandemic and bring opportunities and jobs to our communities which is why we have already committed £55m to this exciting portfolio of investment.

“We will continue to work with our partners to develop the growth deal and ensure it delivers for the people and businesses of Mid Wales.”

The eight strategic growth areas which will now be worked on are:

  • Applied Research & Innovation
  • Agriculture, Food & Drink
  • Energy
  • Digital Connectivity
  • Transport
  • Strengthened Tourism Identity
  • Business Support
  • Skills & Employment