A £1.2bn deal to transform the economy of Monmouthshire and south-East Wales was given the go ahead last week.

The Cardiff Capital Region City Deal, signed on St David’s Day, will reinvigorate the local area by linking up all ten local authorities across the region, councillors said.

Councillor Peter Fox OBE, leader of Monmouthshire County Council, said the ambitious City Deal would drive investment in the area, creating jobs and ticking up economic growth.

“This is a key date in the future of the Cardiff Capital Region.  It’s been tremendous to see everyone working in collaboration to agree this City Deal.  I look forward to seeing the development of innovative projects that will improve the lives of people in all our communities and generate sustainable economic growth now and in the future,” he said.

The deal will see Monmouthshire Cardiff, The Vale of Glamorgan, Rhondda Cynon Taf, Merthyr Tydfil, Caerphilly, Bridgend, Blaenau Gwent, Torfaen and Newport authorities link up to invest in infrastructure, transport, and business support.

Leaders of the ten local authorities ratified the deal during a ceremony at Cardiff Airport last week.

The deal includes £734m for the South Wales Metro, £500m of which is funnelled by the Welsh Government. A further £125m comes from Westminster.

A total of £375m from the UK government adds to the £120m contribution made by the ten authorities.