The technology park would also feature shops and a crèche
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More than 2,000 jobs could be created in Lancashire as part of plans to build a new technology park.
The North West Development Agency has secured an option to buy the Whitebirk site in Hyndburn and wants to turn it into a 'knowledge park'.
The site's main focus will be the technology businesses, but it will also include shops, restaurants, a crèche and a fitness centre.
The NWDA says that, if it gets the go ahead, the development could generate more than £60m of investment in the east Lancashire economy.
Steven Broomhead, NWDA Chief Executive, said: "The Whitebirk site presents the agency and regional partners with an outstanding opportunity to stimulate the growth of knowledge-based industry."
Councillor Peter Clarke, of Hyndburn Borough Council, said he was "delighted" with the plans while Councillor Andy Kay, of Blackburn with Darwen Borough Council, called the project "excellent news".
He added: "As a key strategic development site, Whitebirk will attract high quality investment, provide high quality local jobs and stimulate economic growth for many years to come."