Outline planning permission has been granted for the 114-acre Suffolk Business Park in Bury St Edmunds.
The site, next to the new Eastern Relief Road, will accommodate up to two million square feet of business, distribution and industrial space.
St Edmundsbury Borough Council’s development control committee granted the development’s promoter Jaynic outline consent.
This includes manufacturing space on 10-acres within the site which was sold to Treatt at the start of the year. The flavour and ingredients company, currently based in Northern Way, will consolidate its operations into a new 200,000 sq ft global headquarters facility at the site.
Nic Rumsey, of Jaynic, said: “This consent proves that Suffolk Park is a reality.
“It is currently the only major allocated employment site in Bury St Edmunds with an outline planning permission.
“We have already sold a substantial site to a major local company and talks are progressing with other interested parties.
“Occupiers requirements for buildings from 10,000 sq ft up to 700,000 sq ft can now be accommodated within 12 to 15 months from now.”
A council spokesman said the authority has loaned money to developers to design the Eastern Relief Road, invested money in the road and negotiated land deals.
It has also worked with the New Anglia Local Enterprise Partnership to secure Enterprise Zone status for 14 hectares of the business park to offer business rate incentives over a 25 year period.
This aims to encourage the expansion of existing businesses and to entice new businesses to St Edmundsbury.
Companies could be working in their new buildings at the park by early next year subject to final planning approval.