A new regional enterprise zone for Norfolk and Suffolk is to be launched at a ceremony in Lynn today.
Ten sites, including the Nar Ouse Business Park on the outskirts of Lynn, are included in the initiative being led by the New Anglia local enterprise partnership (LEP).
Officials estimate the Lynn site alone will accommodate up to 60 new companies, and create around 800 new jobs, over the next five years.
And West Norfolk Council leader Nick Daubney said: “These are exciting times for King’s Lynn and West Norfolk.
This will really help to stimulate business growth and help King’s Lynn attract new investment. In turn this will bring more jobs and opportunities for the people of West Norfolk.
“The site has much to offer potential investors, including outline planning permission, superfast broadband and reduced business rates, as well as a comprehensive aftercare programme and support for accessing business grants.”
It is particularly hoped that the Lynn site will attract new businesses in food processing, agri-tech, advanced engineering and high-tech manufacturing industries.
LEP chairman Mark Pendlington said the project would extend the success currently being enjoyed in the existing enterprise zone centred around Yarmouth and Lowestoft.
Almost 40 companies now operate from its sites, employing almost 1,800 people since it opened four years ago.
Mr Pendlington said: “They will be a magnet for inward investment helping create thousands of jobs, enterprise and prosperity for their communities and our wider economy.”
The launch is taking place at the site of the new King’s Lynn Innovation Centre, which is due to open shortly.
John Welch, strategic director of NWES, which will run the centre, said: “This will be the stage for start-ups, entrepreneurs and growing companies to forge links, strengthen relationships and build a solid foundation for local economic growth.
“We will be there for them every step of the way with business advice, flexible tenancy terms and a supportive environment, helping local businesses flourish. This is truly an exciting time for business in King’s Lynn.”