It is estimated that the regeneration of the recently acquired Vauxhall van manufacturing site at Kimpton Road, Luton could create more than 1,700 direct jobs once complete.
This follows the recent acquisition of the site by Goodman, who invested in excess of £400m.
Located adjacent to London Luton Airport, it plans to develop the site into a commercial and industrial park, attracting businesses from a range of sectors including advanced logistics, manufacturing, engineering and digital infrastructure.
Over the coming months, Goodman said it will work closely with Luton Council, local business groups and the community to develop its plans.
Goodman has also accepted an invitation from Luton Council to contribute as a partner to the council-led Luton Taskforce for Economic Growth.
Jason Harris, commercial director at Goodman, said: “Our vision is to deliver a transformational regeneration scheme. This will attract new businesses to Luton and create a mix of jobs from a range of sectors.
“We recognise the social and economic significance of the site to Luton and will work closely with Luton Council and the local community as we bring forward our plans to deliver a major contribution to the long-term economic growth of the town.”
Councillor James Taylor, portfolio holder for regeneration and inclusive growth at Luton Borough Council, added: “We look forward to working with Goodman to regenerate what is a hugely important strategic site for our town.
“We are keen to see a mix of commercial and industrial uses at the site, create quality new jobs for local people and bring in vital investment for Luton which will help drive Luton’s 2040 vision for a town where everyone can thrive.”