Motorsport company Prodrive has announced plans for a Formula One-standard factory at its Warwickshire proving ground.
David Richards co-founded Prodrive in 1984
The company, owned by former British-American Racing boss David Richards, says the new base could provide jobs for up to 1,000 staff.
The 200-acre site, near Honiley, Kenilworth, could eventually house a new Formula One team, a spokesman said.
Mr Richards said the site, called the Fulcrum, would be an asset to the area.
Prodrive already run Subaru's world rally team and Aston Martin's sports car squad.