It marks the commitment to a ground-breaking partnership bringing a combined investment of £110 million from UK and Welsh Government, which is expected to lever in significant additional investment from other public and private sources, maximising the impact in the Mid Wales region.
In addition, the programmes and projects supported by the growth deal will be expected to produce wider social and economic benefits, such as enhanced quality of life, creating business opportunities following the impact of Covid-19, decarbonisation in industry and consideration of climate change impacts.
Plans for project under the themes of digital, tourism, agriculture food & drink, research and innovation and supporting enterprise are expected to create between 1,100 and 1,400 new jobs in Mid Wales through the Growth Deal by 2032 and lever in a total investment of up to £400 million in the Mid Wales economy .
Leader of Powys County Council, Councillor Rosemarie Harris said: “We’ve worked hard to secure this investment in what has been a challenging period as businesses and the public sector have responded to the Covid pandemic.”
“Collectively, we look forward to seeing the benefits this important investment will bring for people and businesses across Mid Wales. There are some hard yards ahead of us yet to ensure this investment makes a difference to our communities. However, we have invested time, effort and have a team in place to help move this forward.
A new economic advisory group consisting of senior, experienced business leaders is now being established”.