The Mid Wales Growth Deal bid could see £110m invested by the Welsh and UK Governments in economic recovery and growth.

The funding will support job creation and increasing productivity, along with wider societal and environmental ambitions in the region.

Leader of Ceredigion County Council, Cllr Ellen ap Gwynn said: “As we move forward to the next phase of the deal, the voice of the business community remains central.

"A new mechanism will be established quickly to engage with the private sector.

"It will ensure that we continue to have appropriate and timely strategic advice from the private sector to help shape the detail of the investments as programme and project detail materialise.

“As a region, we are embarking on a long journey together and there will be significant work to do ahead in the coming months and years.

"However, we are now confidently starting that journey in earnest and look forward to seeing the Growth Deal move from development to delivery.”

The Growing Mid Wales Board has thanked representatives from the private sector for their contribution towards the development of the Mid Wales Growth Deal bid.

The Economic Strategy Group was brought together to help shape the Vision for Growing Mid Wales strategy document, published in May 2020.

This set out the context and roadmap to the Mid Wales Growth Deal – a catalyst to economic recovery and growth in the region’s economy.

Acting in an advisory capacity, the Economic Strategy Group provided the voice of the private sector in the development of the vision.

The subsequent strategic Portfolio was agreed on 21 September by the Growing Mid Wales Board to submit to Government.

Leader of Powys County Council, Cllr Rosemarie Harris said: “The Mid Wales Growth Deal has passed a significant milestone this week with the approval of the draft Portfolio Business Case to be submitted to UK and Welsh Governments.

"We would like to publicly thank all representatives of the Economic Strategy Group who have played a significant role in the work so far.

"Their significant experience of running successful businesses in the region helped ensure that we were focusing on the right strategic priorities and issues.”