Communities and businesses across North Wales are set to benefit from a share of a major £547 million investment programme aimed at boosting the economy across the whole of Wales.

The funding, announced by First Minister Eluned Morgan, forms part of the Welsh Government’s new Regional Investment in Wales plan, which will be rolled out over the next three years. However, ministers have made clear that the money will be distributed across four regions, meaning North Wales will receive a portion alongside other parts of the country rather than the full amount.

The fund is designed to support economic growth by backing businesses, improving skills and investing in infrastructure, with each region given flexibility to target its own priorities. In North Wales, that could mean support for key sectors such as tourism, agriculture, manufacturing and the growing low-carbon energy industry, particularly in areas like Anglesey, Conwy and Gwynedd.

Ministers say the approach will allow funding to be tailored to local needs, helping to tackle long-standing challenges such as rural isolation, access to jobs and lower average wages in some communities. It also reflects a shift in decision-making, with control over post-EU funding now sitting in Wales.

Economy Secretary Rebecca Evans said the investment would help create and secure jobs while opening up new opportunities for people to develop long-term careers. Meanwhile, Secretary of State for Wales Jo Stevens described the funding as an important step in boosting productivity and supporting communities across the country.

For North Wales, the focus will now turn to how regional partners and local authorities shape their plans to ensure the funding delivers meaningful benefits. While the investment is being shared nationally, there is optimism that it can still play a significant role in strengthening the region’s economy and supporting future growth.