Commercial property developer and investor Praxis has submitted a planning application to Hyndburn Council for a 1m sq ft mixed employment development in Whitebirk, to be known as Frontier Park.
Proposals for the 90-acre site in Blackburn Road are dominated by 990,000 sq ft of warehouses for advanced manufacturing and industrial uses across four plots, alongside 50,000 sq ft of offices, a hotel, and food and leisure facilities.
Part of the site is occupied by a derelict farm.
Whitebirk was designated a strategic regional employment site in Hyndburn Council's 2012 development plan core strategy due to its location close to junction 6 of the M65 motorway.
Gabriel McLaughlin, director and head of asset management at Praxis, said: "This development has the potential to transform the site into a vibrant economic centre, attracting inward investment, bringing visitors to the area and, most importantly, creating jobs for local people both during and after construction.
"As you would expect with a scheme of this magnitude, we have engaged in thorough consultation with the local council as well as officers from Lancashire County Council and the neighbouring borough of Blackburn & Darwen.
"We have also remained in close dialogue with local communities throughout the process, and are confident that this proposed scheme will bring real and long-lasting benefits to local residents, generating new employment opportunities and boosting the wider economy."