The Welshpool area is set to benefit from £55 million of funding from the UK government for a Mid Wales Growth Deal.
Prime Minister Boris Johnson announced the finding for Growing Mid Wales which will see investment made into a range of projects throughout Powys and Ceredigion.
Welsh Secretary Alun Cairns said: “Wales is a nation spread over a large geographic area – no more so than in Mid Wales. These communities have not benefitted from Cardiff Bay focused funding for decades.
"I am delighted to have been able to work closely with the Prime Minister and Minister for the Union Boris Johnson to ensure that we have completed packages worth up to £790m of new funding to drive major improvements in every corner of our great country.
“This is the next stage of my long-term commitment of building a stronger and better-connected Wales.”
A statement from the Joint Chairs of the Growing Mid Wales Partnership, Councillors Ellen ap Gwynn and Rosemarie Harries welcomed the announcement.
“We welcome the news of funding for Mid Wales. The region has been working in partnership with both UK and Welsh Government, the private sector and broader public/third sector partners in building a strong vision for growing the Mid Wales economy.
We are collectively committed to achieving the best outcomes for the regional economy – and have invested the time in getting the governance and strategic vision for our region right.
"The region welcomes this announcement for Growth Deal funding, and look forward to continuing to develop our package of proposals in partnership to realise our broader vision for economic growth. That will drive investment in skills, innovation, connectivity and more productive jobs supporting prosperous and bilingual communities.”
