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Devolution deals have been signed to give councils in Norfolk and Suffolk more power over spending.
Under the plans, the county councils will have greater control on housing, skills and regeneration, as well as receiving £1bn worth of funding.
There will also be elected leaders of the authorities, rather than a mayor as in previous devolution deals.
Levelling Up Secretary Michael Gove said: "Ultimately it is local people who know what is best for their areas."
Chancellor Jeremy Hunt first announced the deals in his Autumn Statement.
The Department for Levelling Up, Housing and Communities said the counties would get more power over their adult education budget and immediate support to build new affordable homes on brownfield sites.
They will also receive new powers to help regeneration and more capital funding.
Conservative Mr Gove said these were "historic deals that will see communities handed hundreds of millions of pounds to use as they - not Whitehall - see fit".
Suffolk is set receive a £480m investment fund over 30 years, as well as a multi-year transport settlement at the next Spending Review.
There will be almost £6m to redevelop brownfield land for homes, £3m to improve energy efficiency and renewable generation in homes, and greater compulsory purchase powers.
Matthew Hicks, leader of Suffolk County Council, said the devolution deal "recognises Suffolk's ambitions".
The Conservative said it "would put more powers in the hands of local people and bring more than half a billion pounds of investment into the county".
"Devolution is a journey, not a one-off event. This deal for Suffolk is the first step towards an exciting future for our great county," he added.
Norfolk will receive a £600m investment fund, also over 30 years, with almost £7m to support building homes on brownfield sites.
The county is also set to get £5.9m of capital funding in this Spending Review period for housing, regeneration, and development priorities.
Norfolk County Council leader, Andrew Proctor, said the aim of the deal was "for decisions and funding previously controlled in Westminster to be agreed in Norfolk, for Norfolk".
"I'm confident that we can make a success of this and that more powers and funding would follow," the Conservative added.
The new deals will now subject to local consultation and it is hoped the new elected leaders of the county councils would in place in May 2024.
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