The engineering and supply chain company is relocating its research, development and production headquarters to the technology park anchored by AMS Neve in Burnley.
Velocity Composites, which serves predominantly the aerospace composites industry and is currently based in Blackburn, will occupy a 20,000 sq ft purpose built facility at the Burnely site.
The company has signed a 10 year lease for an undisclosed rent and has an option to purchase the building.
Chris Banks, operations director at Velocity Composites, said strong growth of the business recently resulted in the company investigating options for enhancing and relocating its operation.
Banks said: "At first we retained consultants to find a suitable building for us, possibly in the Blackburn area. We never considered Burnley and we certainly weren't thinking of commissioning our own purpose-built facility.
"It was then that we came across publicity regarding AMS Technology Park and to cut a long story short, the location, surroundings and concept really appealed to us and our business. Most importantly, it became a "no-brainer" when comparing what we could achieve in a new, purpose-built building compared to the costs and uncertainty of modifying an existing property. AMS Technology Park is well located close to the M65 Motorway and the plans and strategy for the expansion of the site appeal very much to me and my co-directors."
In March this year, the joint venture between Stuart Nevison, co-founder of AMS with AMS Neve's managing director Mark Crabtree, and Barnfield Construction announced plans for an 80,000 sq ft expansion of the technology park.
The JV acquired the existing 60,000 sq ft building and car park for £2m in January and AMS leased back its 30,000 sq ft office in the building.
Barnfield Construction will be constructing 15 industrial units with space available from 2,400 sq ft and 15,000 sq ft and renovating part of AMS Neve's existing building into 18 office suites.
AMS Neve consoles were used to produce 80% of this year's Oscar-winning films including Harry Potter and the Deathly Hallows Part 2 and The King's Speech.