A report titled Vision for the Future of the Midlands was launched yesterday evening by Tánaiste Brian Cowen in Tullamore.
The document, which was commissioned by the recently formed Midlands Gateway Chamber of Commerce, outlines projects to cater for the 350,000 people living in the 40-mile catchment area.
The organisation includes the town chambers of Athlone, Mullingar and Tullamore and represents more than 700 businesses in the region.
The initiative aims to strengthen links between towns in the region and to further business, tourism and infrastructure.
These include the provision of WiFi for the three towns, improved rail links between them and the formation of a tourist agency for the region.
Mr Cowen said at the launch that the project had created a positive business environment for the region. Investment in the area for the first quarter of this year was in the region of 13 per cent which he said was very welcome. He hoped to ensure this investment was sustainable.
"I think the real challenge is to go forward for more long-term planning and how we can make a success of this three-town gateway concept, which is unique to the midlands.
"Today we are seeing the establishment of the Midlands Gateway Chamber, which is seeing the business community coming together," he said.
The inaugural meeting of an interagency implementation forum, commissioned by both Westmeath and Offaly county councils, also took place yesterday, setting out what the social and infrastructural priorities for the region should be.
Mr Cowen said he hoped that more interest would be generated by the new plan. This needed to be formally organised by such an initiative.
"With regional development becoming a priority now, there is a huge level of economic activity in Ireland. We are seeing a lot of activity on the eastern coast, so we need to see how we can develop other regions now.
"Before we hadn't sufficient investment in the country to employ our own people and we have overcome this as a result of implementing the right sort of policies," the Tánaiste added.
"Considerable development is going into the country as a result of the National Development Plan. It's important that we organise ourselves to make our region benefit from this."
Eugene Moore, president of the Midlands Gateway Chamber, said the new organisation would benefit from sustainable growth of small and medium enterprises in the region.
"We have worked closely as a business community over the past 12 months to analyse the challenges and formulate the solutions to capitalise on this unique opportunity," Mr Moore said.
"Midlands Gateway Chamber is today publishing concrete proposals for real projects . . . that can help deliver the facilities needed for the 350,000 people living in our catchment area."