LANCASHIRE County Council has appointed regeneration experts Business Environments to carry out a £20,000 planning, land and property study in Great Harwood.
Residents and local business people are also set to play a part in the regeneration of their town and will be consulted for their views and opinions.
Arrangements are being made for a A public consultation will possibly be held in early November.
The project will also work closely with representatives from the county council, Hyndburn Borough Council, The Accrington, Church and Great Harwood Partnership and the Great Harwood Area Council.
The main aims of the study, which will be completed by January next year, are to assess the current land use in Great Harwood and look for opportunities for regeneration. It will try and identify the underlying problems which have led to areas being left deserted and run down.
Information will be used to identify why some land and property is under-used or under-developed and propose a series of actions to bring about physical and economic regeneration. It is also hoped to encourage private investment and entrepreneurial activity.
County Councillor George Slynn, the county council's environment overview and scrutiny committee chairman, said: "There have been a number of hurdles that have made attracting investment to Great Harwood difficult in the past.
" and, more importantly, local people play their part in finding the solutions. I look forward to seeing the benefits of this project."
Peter Crompton, director for economic development and regeneration at business environments, added: "Great Harwood exhibits the characteristics of many former mill towns in the North West.
"It the town welcomed a new supermarket and as well as opening their Co-op opened a new shop in Queen Street, and also paid for the provision of a new library nearby. Harwood House, the former Co-op building, is to be turned into a wine bar and coffee lounge after being empty for several years.
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