Twelve months after a developer bought the former Hepworth's Building Products site on Pollard Moor, Hapton, a major national company has signed up to base up to 1,000 workers on the new business park.

Coun. Gordon Birtwistle, leader of Burnley Council, said the development, which stretches from Hapton to the M65, is an incredible boost for the town.

But before it can proceed, a bridge over the Leeds and Liverpool Canal must be built, leading off from junction 9 of the M65.

Coun. Birtwistle said: "This is a major public limited company that has been buying up smaller firms and wants to consolidate its operations and it has chosen Burnley. The investment is a minimum of £50m."

There is a tight timescale, however, with the firm wanting to be in by the end of 2010. But it will create between 500 and 1,000 jobs for people in the area.

Coun. Birtwistle said talks are now ongoing with the North West Development Agency and Lancashire County Council to secure funds for transport link to the site.

And he believes that having this company wanting to anchor the development will help speed the process up as well as attract other big-name firms.

"This is massive opportunity for Burnley and we don't want to waste it.

"This is a brownfield site which is somewhat derelict. It is earmarked for industrial use and has the potential to bring in thousands of jobs, not just for people in Burnley but across Pennine Lancashire."

The development will be much larger than the nearby Network 65 development, on the opposite side of the motorway.