Extra £11.8m unlocked for Mid Wales Growth Deal as first project takes shape
The UK and Welsh governments have confirmed the release of £11.8m of funding for Mid Wales as part of an investment package aimed at boosting the regional economy
The announcement came as Ministers toured the first project to secure support from the Mid Wales Growth Deal, which is backed by £110m from both governments – aimed at attracting further investment from the public and private sectors.
The visit to the Elan Valley Lakes development – which aims to set a new benchmark for sustainable tourism – marked a significant step forward for the Deal as projects begin to move from planning to delivery.
The first package of work, which will enhance the visitor experience, boost local revenue, and safeguard the natural beauty and biodiversity of the Elan Valley, will focus on two key areas - Celtic Rainforest Expansion – connecting and restoring 117 hectares of fragmented woodland as part of the National Forest for Wales and a Visitor Centre Design – initiating redevelopment designs to enhance the visitor experience, integrating environmental education and sustainable practices.
This first phase alone is projected to deliver an annual economic impact of £4m, with an estimated £17m contribution to the regional economy by 2040.
Wales Office Minister, Dame Nia Griffith, and Welsh Government Economy Secretary, Rebecca Evans were welcomed by representatives from Growing Mid Wales, the regional partnership overseeing the Growth Deal, alongside developers Dŵr Cymru Welsh Water.
There, the Ministers confirmed both the UK and Welsh Governments had unlocked the second tranche of Growth Deal funding, amounting to £11.8m.
Dame Nia Griffith DBE MP, Parliamentary Under-Secretary of State at the Wales Office, commented: “This project is a fantastic example of how the UK Government is supporting the region to deliver our mission of economic growth by boosting tourism and creating jobs.
"The Elan Valley is a beautiful place, and these improvements will make the visiting the area even better, whilst also protecting the environment."
The Welsh Government’s Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, added: "The Mid Wales Growth Deal plays a crucial role in our vision for economic prosperity across Wales. The Elan Valley Lakes project has transformative potential; attracting visitors, creating jobs, and positioning Mid Wales as a premier destination within a prosperous, green, and fair Wales."
Leader of Powys County Council, Councillor James Gibson-Watt, and Leader of Ceredigion County Council, Councillor Bryan Davies, emphasised the broader benefits: “This investment will not only improve our tourism sector but also prioritise conservation and sustainability. It will create jobs, both directly and in the wider economy. We are committed to supporting the project as it moves forward.”
Peter Perry, Chief Executive of Dŵr Cymru said: “This project is a testament to our commitment to sustainable tourism and environmental regeneration, playing our part in the ‘Team Wales’ approach to tackling climate change. It will transform the Elan Valley into a flagship destination, benefiting our customers and the local community.”
