Bolton could be in line for up to £25m of government funding.
The town has been named as one of a 100 places in the UK to share in the £3.6 billion Towns Fund, which aims to ‘support towns to build prosperous futures’.
The announcement comes just 10 days after Bolton’s £25m bid for its town centre was selected to go through to the next stage of the Future High Streets Fund, along with Farnworth.
A total of 42 places across the Northern Powerhouse are among the 100 pioneers of new ‘Town Deals’, which will aim to boost towns through improving transport, broadband connectivity and providing social and cultural infrastructure.
Bolton is one of only four towns in Greater Manchester set to benefit and the council will now put together a business case for the proposed investment.
Leader of Bolton Council, Cllr David Greenhalgh, said: "We are delighted at the announcement that Bolton will benefit to the tune of up to a further £25 million from a £3.6 billion pot that is being targeted at transforming and reinvigorating towns.
“This is a vote of confidence in Bolton and testament to the regeneration work already underway with Bolton’s £1.2 billion masterplan and the district plans.
“The future is looking good for our town and our high streets. This money must now be spent wisely to achieve lasting outcomes for generations to come.”
Communities Secretary Robert Jenrick said: "We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.
"I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place.
“I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”
The government is set to publish a prospectus to guide towns through the process and set eligibility criteria for funding.
Decisions on funding any proposals will be made in due course.