The money will enable the creation of access to the Enterprise Zone from the A59 and the A677.
To finance these infrastructure works, Lancashire County Council will borrow £10.5m from the Public Works Loan Board and invest a further £1m from its Economic Development Budget.
Jennifer Mein, Leader of Lancashire County Council, said: “We are absolutely committed to driving growth and prosperity for Lancashire and the Enterprise Zone is a key part of that.
“We have been working very hard to ensure we did the right deal for the people of Lancashire. This investment will literally open up the EnterpriseZone and enable new businesses to start to move on to the site.
“This is further proof of the Lancashire Enterprise Partnership’s performance and proven ability to deliver on key projects.”
Edwin Booth, Chairman of the Lancashire Enterprise Partnership, said: “This investment is fantastic news for the Enterprise Zone and for Lancashire’s economy as a whole.
“Lancashire’s Enterprise Zone, across its sites at Samlesbury and Warton, is a long-term project that will create a world-class beacon for advanced engineering and manufacturing, building on Lancashire’s history in this field,and will bring thousands of new jobs to the area.
“We have been involved in complex negotiations with various partners to get to this point and are still on target to bring the first of these jobs to the Enterprise Zone in 2015.”
It is expected that initial works on access to the Enterprise Zone will begin in the New Year, when plans will also be discussed with the local community. We will keep local people informed about plans as the site develops.
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