Ring Stones, a joint venture between contractor Forrest and social housing landlord Calico, has started work on its first contract.
The JV is delivering a £15m planned maintenance contract for Calico Group due to run until March 2017. The work involves external improvements for some of Calico's 4,500 homes in and around Burnley.
There are 19 staff currently working on the project, including plasterers, joiners, roofers, bricklayers, labourers and a site manager.
A second wave of recruitment is now underway for a quantity surveyor, contracts manager, customer liaison officer and gas engineers, as well as additional multi-skilled operatives to supplement existing numbers.
Ring Stones directly employs the labour force rather than subcontracting work out, to secure long-term employment for people in the local area.
As well as the planned maintenance work, Ring Stones will bid for additional contracts to take the total anticipated revenue up to £88m over a 10-year period.