AROUND 500 jobs are set to be created and 250 safeguarded as part of an East Lancashire business growth scheme.
MPs and the leaders of the six borough councils united to back the Accelerated Business Growth Plus bid to the Regional Growth Fund.
And the Regenerate Pennine Lancashire submission has secured £5million of the £7million sought.
High-growth areas like advanced manufacturing, aerospace, chemical, sustainable energy and digital industries are best placed to benefit.
Key improvements such as new machinery, apprenticeships, product development and property expansion are the main focus.
RPL chairman Dennis Mendoros said: “This will provide huge boost to our local economy and help create hundreds of jobs in growing industries.”
Coun Kate Hollern, leader of Blackburn with Darwen Council said: “This shows confidence in Pennine Lancashire as a place worth investing in.“ Pendle MP Andrew Stephenson said he hoped mid-sized firms like Merc at Barrowford and Nelson's Graham Engineering would now prosper under ABG plus.
He said: "Over the last three years, several local businesses have undergone significant expansions, including Silentnight in Barnoldswick and Woodheads in Colne.
“However many mid-sized businesses were struggling to gain the support they needed to expand and create jobs."
The programme is being supported by the Lancashire Enterprise Partnership.
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