Luxury sports car company TVR and Blackpool Council have agreed on a site for a new factory to keep production in the resort.
TVR was bought by a Russian tycoon in 2004
The council and company said it would be on a nine-acre site, which is in the Blackpool Business Park close to Blackpool Airport.
TVR announced in May it would leave its Blackpool factory in Bispham.
A month later the Russian-owned firm said its headquarters would be switched to Lancaster.
"This is an important step for TVR, but there is still a lot to do towards the move," said David Oxley, TVR managing director.
"Relevant consents and planning permissions need to be obtained first and contractors' proposals tendered, so we expect it to take at least 18 months to complete the project."
Alan Cavill, Head of Corporate Policy and Development for Blackpool Council said: "We look forward to continuing to work with TVR to deliver their future plans."
Seventy-one of its 260 workers were laid off when the announcement was made about the Bispham site.
All workers who wanted their jobs back were reinstated in mid July.
Established in 1947, TVR is Britain's largest independent sports car owner and was bought by Russian tycoon Nikolai Smolensky in 2004.