An ambitious regeneration scheme to transform Bargoed has been granted £8.3 million of European cash.
The money is a major boost to plans to revamp the town over the next ten years by Caerphilly County Borough Council.
The work will include a new bus station, pedestrian zones and high street open spaces.
Deputy Minister for Regeneration Jocelyn Davies AM said: “I am confident that the scheme will deliver long term economic, environmental and social benefits for Bargoed, bringing with it new employment and business opportunities and helping to build a more attractive environment for the local community.”
Councillor Ron Davies, cabinet member for regeneration at Caerphilly County Borough Council, said: “We are delighted to receive this welcome news from the Welsh Assembly Government that will enable Caerphilly County Borough Council to secure a bright future for Bargoed.”
The money has come from the European Regional Development Fund and the Welsh Assembly Government.
In October the regeneration scheme received a blow after a bid to the Welsh Assembly Government for funding through the Strategic Capital Investment Fund was turned down.
Caerphilly AM Jeff Cuthbert welcomed news of the money and said: “As the local AM, and as chair of the All-Wales Programme Monitoring Committee for the European Strategic Funds, I am delighted that the Bargoed regeneration scheme has been approved in this way.
“In partnership with the local authority and others, we need to make sure that this cash helps to regenerate Bargoed town centre.
“I will work with everyone involved to make sure that this money is used effectively.”
For more information about the regeneration of Bargoed visit www.bargoedsbigidea.co.uk