A report developed by the North Wales Economic Ambition Board sets out a 'growth vision' for the region, with aims of creating 120,000 jobs and boosting the value of the local economy to £20bn by 2035.
Plans were backed by the region’s six council leaders and chief executives over the summer, and the document is supported by business leaders and colleges.
Boosting the energy and manufacturing sectors are at the heart of the proposals, with the Wylfa Newydd nuclear power station on Anglesey playing a central role.
The plans are also in line with the proposed Northern Powerhouse, drawing upon the region’s economic links to the North West of England.
Gwynedd Council's cabinet member for the economy, Councillor Mandy Williams-Davies, said: "If funding is secured to deliver the action plan of projects, the region will experience sustainable economic growth and the value of the North Wales economy from £12.8bn in 2015 to £20bn by 2035.
"Such growth rate will generate at least an additional 120,000 new employment opportunities."
After approval by council cabinets, negotiations will begin with the UK and Welsh governments for new responsibilities and extra funding, including a possible 'Growth Deal' for North Wales.