The UK Government will now begin formal negotiations on a Moray Growth Deal, the chancellor has confirmed.
Talks are due to start with the Scottish Government and local partners, Philip Hammond said in his Budget speech yesterday.
Moray Council Leader Graham Leadbitter said the announcement marked the “start of something special” in the region and that the “inspirational vision” for its future was “now within touching distance”.
He added: “The next few months will see us negotiate with both UK and Scottish governments to secure the best deal that we can for Moray.”
SNP MP Pete Wishart said while any investment for regeneration was welcome, it was “hard to take the Tories seriously when their lack of ambition has found them over-promising and under-delivering”.
The chancellor also committed £150million to the Tay Cities Deal.