The council, which has been championing a deal for Argyll and Bute based on a number of projects developed with public and private sector partners, welcomed the investment as a 'transformational vote of confidence'.
The UK and Scottish Governments announced investment of £25million each in Argyll and Bute.
Councillor Aileen Morton, Leader of Argyll and Bute Council, said: "This scale of investment is a transformational vote of confidence in the future of Argyll and Bute.
"This area has fantastic natural resources, an innovative, skilled workforce, and public and private sector organisations committed to its future success.
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"However, to deliver the change needed to build our economy and with it a sustainable future for Argyll and Bute, we need significant investment.
"That is what we have achieved through our Rural Growth Deal.
"Our next step will be to work with the Scottish and UK Governments to prioritise how we put this investment to work for Argyll and Bute."
Along with its partners, the council had designed proposals to deliver success across Argyll and Bute, based on three key drivers:
• Attracting: additional skills, training and learning opportunities; new residents, visitors and businesses
• Growing: doing more of what works; making more of our natural and built resources
• Connecting: our high value business sectors with national and international business markets; our local economic successes with national strategic priorities.
Councillor Gary Mulvaney, Depute Leader of Argyll and Bute Council paid tribute to everyone involved in developing the deal.
He said: "Securing such significant investment is down to public and private sectors, and members of the public through consultation, working together for the future of Argyll and Bute.
"It is important to note that this funding will be dedicated to transformational development projects; it cannot be used for day-to-day service delivery.
"It provides a strong foundation for delivering rural growth deal priorities. This is great news for Argyll and Bute."
(MH/CM)
