Plymouth has world-class recogition for marine research said the university
Plymouth is getting a £25m cash injection to increase research into wave energy, marine engineering and science.
The Devon city will get a new £18m research building with a wave tank for testing wave energy machines.
There will also be support for small marine companies to set up on the Tamar industrial estate.
Jim Knight, Minister for the South West, said it would make Plymouth a "global leader" in the sector.
The package includes £7m from the South West RDA, £4m from the Department for Business Innovation and Skills and the Department of Energy and Climate Change, £11.8m from the University of Plymouth and £1.5m from Plymouth City Council.
Professor Wendy Purcell, vice-chancellor of the University of Plymouth, said: "Our marine and maritime research has now achieved world-class recognition and status, so it is fitting that Plymouth should be the location for this world-leading facility."
Mr Knight said: "Plymouth has a fantastic maritime heritage and I am delighted the city will be the home of a centre of excellence for science and innovation.
"This project will make Plymouth a global leader in science, innovation and marine research and create new jobs and more opportunities for our young people."