The plans have benefited from a grant via the LEP from the Growth Deal.
Plans for an advanced manufacturing park outside Scunthorpe were unveiled last week, thanks in part to Growth Deal funding allocated by the Greater Lincolnshire LEP.
North Lincolnshire Council has struck a land deal to create space for high-skill, low-carbon industries, taking advantage of the Humber’s freeport status.
Money allocated by the Government from the Towns Fund has been used to buy up 65 acres of farmland off the M181, paving the way for the creation of a four million square foot carbon-neutral business park.
The LEP invested £4.5m of its Growth Deal funding in the creation of the strategically important Northern Junction roundabout in Scunthorpe, which was completed early this year.
The investment enabled negotiations to take place on adjacent land to move the Lincolnshire Lakes housing and employment land scheme forward.
The resulting development will be the UK’s first carbon-neutral advanced manufacturing park, and it is expected to create up to 2,000 highly skilled jobs.
The project will now be taken through the planning process.
"This recent announcement demonstrates the significant impact that strategic public investment can influence,” said Pat Doody, Chair of the Greater Lincolnshire LEP.
“We look forward to seeing the substantial economic growth across Greater Lincolnshire that this hub for research, development and innovation will undoubtedly deliver.
"The decarbonisation agenda is at the heart of the Humber estuary, and the development of a Humber Freeport is driving cluster development in the energy sector, so opportunities for the AMP are likely to be plentiful.”