The Mid Wales Growth Deal is hoping to secure the first portion of a £110 million funding pot from the UK and Welsh Government.

Key documents were approved at the Growing Mid Wales Board meeting held on March 28, bringing the £110m combined funding a step closer to fruition.

The deal is part of the larger ambitions of the Mid Wales Growth board, a regional partnership and engagement arrangement between the private and public sectors, representing the region’s interests and priorities for improvements to the economy.

An updated version of the overreaching documents detailing how the Growth Deal Portfolio will be delivered and meet its objectives, Strategic Portfolio Business Case, will now be submitted to both governments.

Once submitted, governing bodies will consider issuing the first portion of funding for the project.


In a joint statement, Leader of Powys County Council, Councillor James Gibson-Watt and Leader of Ceredigion County Council, Councillor Bryan Davies said: “We are very pleased that the Mid Wales Growth Deal was given an extremely positive Amber-Green rating, praising and recognising the hard work achieved over the last year.

“Both the review, and the wider work undertaken around the key documents demonstrate that we are ready to receive the Growth Deal funding, subject to both Governments reviewing and agreeing.

County Times:

“There is still a significant amount of work ahead, the Growth Deal project proposals and programmes are progressing with their business cases, but if both Governments agree, we will have reached a huge milestone on getting the funding to start flowing to Mid Wales.

“To complete these processes, there has been significant engagement and input from various groups and stakeholders particularly our Economic Advisory Group from the private sector, and we thank them all for their partnership working and continued commitment to ensure we deliver the best possible outcomes for our region.”

Part of the process of obtaining funding has included an independent assurance review which was undertaken in February, designed to provide the UK and Welsh Governments with confidence that the deal has the potential to deliver on its promises.

Mr Gibson-Watt and Mr Davies added: “It has been a difficult journey, and the economic climate will continue to give us new challenges to see these plans take hold. However, we are pleased that we are progressing through the requirements as fast as we can.”