Trebor Developments has launched Vision Park, a high-tech business park situated in Burnley's Knowledge Quarter.
The five-acre development will provide 130,000 sq ft of business space and is being targeted to the advanced manufacturing, digital and knowledge-based industries.
The site is next to the Burnley College and University of Central Lancashire campus, and will enable occupants moving onto Vision Park to take advantage of the knowledge, skills and research into digital technologies, as well as manufacturing and engineering expertise via the Centre of Engineering Excellence nearby.
Burnley Council announced Trebor as the preferred developer for the site in January. Phase one of the park will see the development of an Innovation Centre, providing flexible space for advanced manufacturing occupiers.
Bob Tattrie, managing partner of Trebor Developments, said: "The unique location made the site of particular interest to us, not only does it sit at the heart of the Knowledge Quarter, it also sits close to excellent transport links, and has stunning countryside views across to the famous Lancashire landmark Pendle Hill.
"Burnley has a growing reputation as a centre for manufacturing excellence with several world class advanced manufacturing businesses located in the town, who work in partnership to promote the towns superb infrastructure and the proactive business support environment. So companies looking at Vision Park would be in good company."
Steve Rumbelow, chief executive of Burnley Council, said: "Vision Park will provide a unique offer to advanced manufacturing and digital industries that can connect to the unrivalled manufacturing and robotic technologies in the adjacent education campus.
"Burnley is becoming a regionally significant centre for advanced manufacturing, and we are creating modern business environments to attract growing business in this sector, which will benefit from being based amongst businesses at the forefront of advanced manufacturing.
"Just this week we have manufacturing experts speaking at the International Festival of Business Manufacturing Summit in Liverpool, who were invited to speak and share Burnley's excellence in manufacturing, as well as telling delegates about the wider Burnley offer as a great place to live and work."
Trebor will work with the council to develop the brownfield site, alongside partners UCLan, Burnley College and the Homes & Communities Agency, which funded the purchase of the site.