THE development of the Mid Wales Growth Deal – which could create up to 1,400 new jobs by 2032 – has reached another important milestone.

The signing of the final deal agreement was signed on Thursday by the Welsh Government, UK Government and the region’s local authorities, Ceredigion County Council and Powys County Council.

It marks the commitment of all partners to deliver the Mid Wales Growth Deal, a ground-breaking partnership bringing a combined investment of £110m from UK and Welsh Government.

It is expected to lever in significant additional investment from other public and private sources, maximising the impact in the Mid Wales region.

Councillor Ellen ap Gwynn, Leader of Ceredigion County Council and joint chair of the Growing Mid Wales Board said: “We’d both like to thank UK Government and Welsh Government for the support and commitment shown to ensure this hugely significant investment for Mid Wales.

"We have worked tirelessly over recent years to ensure this investment turned into a reality – and this signing at last marks the final phases of development before the funding can start flowing.”.

Growth Deal investment will support a net additional GVA uplift of between £570 million and £700 million for the Mid Wales Economy and deliver a total investment of up to £400 million in the Mid Wales Economy by 2032.

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.

The agreement was made after the development and submission of the Portfolio Business Case on the basis of the current shortlisted set of programmes and projects, which cover a range of investment proposals across a number of themes - digital, tourism, agriculture food and drink, research & innovation and supporting enterprise.

Leader of Powys County Council, Councillor Rosemarie Harris said: “I am delighted to be able to share this signed agreement with the businesses and communities of Mid Wales.

"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.”

The signing of the agreement means that the delivery framework of the Growth Deal is now in place to allow programme and project business cases to come forward. The Growth Deal is a long-term investment that can provide capital funding to support regionally significant interventions that drive private sector investment and stimulate growth.

Parliamentary Under Secretary of State for Wales, UK Government, David TC Davies, said: “This is an incredibly important milestone for Mid Wales.

"The UK Government has huge ambitions for the people of mid Wales, and these ambitions will now be backed by £55m UK Government investment.

"This Deal has the power to transform livelihoods, creating jobs and spreading prosperity and I’m absolutely delighted to be signing it today. I look forward to seeing the tangible benefits of today’s agreement in the coming months and years.”

Welsh Government Economy Minister, Vaughan Gething said: “I am delighted to be able to sign the Final Deal Agreement today alongside our regional partners and the UK Government.

"This signals a major step forward for the region and it is important that momentum is maintained so that the region can progress towards the delivery of the Deal.

“The Mid Wales Growth Deal, boosted by £55m Welsh Government investment, has an important role to play in our immediate economic recovery and reconstruction in light of the Covid-19 pandemic.

"I am now keen to see the region take forward implementation and investment in projects and programmes which will help deliver tangible and significant benefits for the regional economy.”

“It will also be key to deliver against the future vision and priorities for Mid Wales, helping to promote the economic wellbeing of the region whilst addressing some of our collective ambitions around decarbonisation and a more prosperous, green and equal economy.”

UK Minister for Levelling Up, the Union and Constitution, Neil O’Brien MP said: “This deal will have a real impact on communities and businesses across Mid Wales, supporting more green and sustainable economic growth.

“I am proud to sign this agreement, which underlines the UK Government’s commitment to levelling up every corner of the country and I look forward to seeing the programmes and projects supported by this deal now move forward.”

Projects included in the growth deal are:

• Innovation Park – Led by Aberystwyth University, estimated investment of £30m for 10,000 square metres office and research and development spaces space.

• National Spectrum Centre – Led by Aberystwyth University estimated invest-ment of £17m.

• Food Manufacturing Innovation Centre – Led by Food Centre Wales, which is part of Ceredigion County Council, this is a £4.4m project to deliver a state-of-the-art food manufacturing innovation centre at Horeb, Llandysul.

• Canolfan Tir Glas/University of Gastronomy – Trinity Saint David’s University in Lampeter hopes to establish a centre for rural enterprise that will promote the local food industry, cost estimated to be £8m.

• Ceredigion harbours – cost of between £20m to £30m is an outline proposal for two major marina/harbour developments in Aberystwyth and Aberaeron.

• An estimated £24.2m for the Centre of Alternative Technology in Machynlleth to create an “immersive learning experience” to produce skills for workers needed in the renewable energy, “sustainable” construction, food, land use and tourism.

• An estimated £12.7m for an Elan Valley Lakes project – there Dwr Cymru would investing in facilities for leisure, sport, and nature activities, including visitor accommodation.

• An estimated £24.4m to restore the Montgomery Canal for tourism and leisure.

Other Mid-Wales wide projects include improving digital connectivity which would cost £3.6m and identifying areas to provide business/industrial units.

The signed Final Deal Agreement will be available on the Growing Mid Wales website at: http://www.growingmid.wales/documents

For further information, or for a discussion with officers on the proposals or any new ideas, please visit: www.growingmid.wales/contact