Wales' Chief Scientific Adviser, Professor John Harries, says the £50-million investment should help build a team of top-level scientists and attract the best research projects to Wales.
More top news
There are already 17 directly elected Mayors in England but none across the border so far.
Bristol Airport says abolishing air passenger duty in Wales would result in passengers and airlines flying from Cardiff instead.
An additional £7 million has been put aside by the Welsh Government to build in areas where the housing supply is low.