£110m Mid Wales Growth Deal reaches key milestone

Wednesday December 23rd, 2020

The Mid Wales Growth Deal reached a significant milestone today with the signing of the Heads of Terms by the Welsh Government, UK Government and the region’s local authorities.

The signing demonstrates a commitment by both governments and the local authorities to work together to deliver a deal to support the economy of the region.

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

The growth deal has been developed from the Vision for Growing Mid Wales which was published earlier this year and set out the broader economic strategy for the region. It will play a vital role in unlocking and attracting further investment from the public and private sectors.

The region can now progress to the next stage which includes bringing forward more detailed proposals in the form of a Portfolio Business Case which will be scoped from eight priority areas for intervention, including digital connectivity, applied research and innovation, energy and skills.

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.”

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