Largs Labour councillor Alex Gallagher said he was pleased that the Ayrshire Growth Deal got the seal of approval from Prime Minister Theresa May.
Cllr. Gallagher, who is chair of North Ayrshire Economy portfolio, said that UK Government support is a major step forward for their ambitious proposals.
At the heart of the proposals put forward is Inclusive Growth - creating opportunities that benefit everyone across all of Ayrshire’s communities.
The Ayrshire Growth Deal will provide significant investment in the key sectors of aerospace and space, life sciences, manufacturing and tourism.
The Growth Deal team – which includes the three Ayrshire Councils and national agencies, with support from the private sector – have been lobbying hard to gain the guarantee of financial support from the UK Government.
The Scottish Government have made a firm commitment to progressing the deal.
Cllr. Gallagher said that the PM's endorsement was a significant step forward: ““It is now fantastic that we have reached this stage.We feel these proposals are ambitious and would make a huge difference to the Ayrshire economy. We can now take these forward and that is really exciting.”
Conservative list MSP Jamie Greene said: "“The Ayrshire Growth deal will provide a welcome boost to the local economy, create jobs and help make Ayrshire a more attractive place for future investment."