The Tralee Flood Relief Scheme is among the Kerry projects identified for funding in plan.
Minister of State, Brendan Griffin, says Project Ireland 2040 will deliver real investment and proper planning to the county.
Leas-Cathaoirleach of the Seanad, Fine Gael senator, Paul Coghlan, says the the plan will support families and strengthen communities in Kerry.
Killarney National Park, Skellig Michael and Valentia Cable Station are part of Project Ireland 2040, which will see a €285 million investment in national heritage nationwide.
Kerry Airport will receive financial support as part of the Regional Airports Programme, while there are also plans for the Dingle Fisheries Harbour Centre.
Much of plans announced today relate to the provision and upgrading of roads in the county; the Tralee Northern Relief Road, the N69 Listowel Bypass and Dingle Relief Road are among the projects which will receive capital investment.
Outside of the county, the N22 – Ballyvourney/Macroom Road is set to receive funding under Project Ireland 2040.
Towns and villages with populations of less than 10,000 in Kerry will be in a position to benefit from a new Rural Regeneration and Development Fund, which will invest €1bn in promoting rural renewal.