The Welsh Labour Government has reached a deal with Plaid Cymru over next year's budget.
In a joint statement, it was announced an additional £20 million will be reflected in the draft budget which would support apprenticeships in Wales, particularly people aged between 16 and 24.
Plaid Cymru leader Leanne Wood said the economy and jobs are a priority.
Ms Wood said: "This is concrete action that we help to rebuild our economy and equip our young people with the tools they need for a successful future.”
The schemes that the money will support will be determined by First Minister Carwyn Jones's party, in consultation with Plaid.
The administration in Cardiff Bay must work with their political rivals since they lack an overall majority.
Last year they worked with the Lib Dems on their spending plans.
The statement issued this morning said: "Opportunities to supplement Welsh Government resources with the maximum amount of EU funding will be sought.
“We will also ensure a further £20 million will be included in the indicative figures for 2014-15 for apprenticeship schemes.
“In addition, we have today also agreed that in support of research in the fields of science, technology, engineering and mathematics, £10 million of capital will be allocated over the next two years in support of the creation of a science park led by Bangor University, in collaboration with Aberystwyth University.
"It is intended that the park will also attract EU and private sector investment.
"Today’s agreement means that a budget for the coming financial year can now be set on behalf of the people of Wales."
The draft budget will be debated on Tuesday, November 13.