AN OFFICE complex costing £500,000 is to be created on one of Blackburn's booming business parks, creating more than 140 jobs.

Called Capricorn Park, the new office development is being funded using Government and European cash.

It is hoped the project will bring back into use a derelict site within the Greenbank Business Park, and provide accommodation for 144 white-collar workers.

Blackburn with Darwen Council, which has attracted millions of pounds of cash grants to improve and expand its business parks around the borough,

is completing the project with an outisde developer.

The council is committed to attracting white-collar jobs because they are better paid and lead to more money being spent in the area.

The office accommodation will be aimed at locally-established IT-sector businesses and up-and-coming small firms. Coun Andy Kay, executive member for regeneration at Blackburn with Darwen Council, said: "We welcome this new office development to Blackburn. Capricorn Park will provide job opportunities for local people and support the development of businesses essential to the continued economic prosperity of the area.

"The area around Junction Six of the M65 has undergone rapid expansion over recent years.

"It is fast becoming an important strategic employment area for the local and regional economy."

It is expected to take two years for the site to be fully developed, with work being carried out by RET Developments.

Stewart Swift, North West Development Agency area manager for Lancashire, which has helped secure cash for the scheme, said: "Capricorn Park will provide countless benefits for Blackburn's communities, businesses, infrastructure and environment.

"These are all key priorities for the agency.

"We are pleased to be adding value to the town's economy, creating extra opportunities, and ensuring that it has a prosperous future.

"We have every confidence that Capricorn Park will successfully serve the business community of Blackburn for many years to come."