The outlay will go towards refurbishing an NWDA-owned former Michelin tyre warehouse on which the company has signed a 25-year lease in order to expand its manufacturing facility. Full-scale manufacturing will begin at the premises in late 2008.
Steven Broomhead, chief executive of the NWDA, said: ‘The NWDA bought the former Michelin site to encourage employment creation and regeneration in Burnley and I am delighted Aircelle has made this commitment to the town.
‘We are keen to establish and grow the aerospace sector, which is vital in Lancashire, offering huge opportunities for local people and making a valuable contribution to the local and regional economy.’
Andrew White, managing director of Aircelle, said: ‘The development of the Michelin facility will allow us to expand our nacelles and thrust-reverser systems manufacturing capability, and significantly grow our business here in Burnley.
‘We are delighted that this will allow us to provide development opportunities for our existing employees and offer new employment opportunities for the Burnley community.
‘We believe this will signify only the first steps towards making Aircelle the most prestigious employer in the area.’
Construction company Morgan Ashurst won the contract to transform the football-pitch-sized warehouse into a manufacturing and office complex.