ANOTHER 200 jobs could be created if talks are successful for prospective tenants of a new business park built on Burnley’s former Michelin tyre factory site.

Borough council economic development bosses and Aircelle, joint backers of the aerospace supply chain logistics village, are hopeful that negotiations with several unnamed operations will provide some new year cheer for the town.

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Dubbed Innovation Drive the project, which also incorporated DHL, was funded by a major handout from the Regional Growth Fund two years ago.

In one of the most significant switches, Kaman Tooling relocated from Darwen’s India Mill to the park, looking to create 50 jobs by 2015, establishing a ‘centre of excellence’ in an initial 34,000 square feet building, which should expand to 64,000 square feet.

The Kaman deal was hailed by Business Secretary Dr Vince Cable as “an encouraging sign of growth” for Burnley.

Town hall chiefs say that a final grant panel meeting has been held for the RGF investment, with five remaining applications were approved.

Just under £2 million has been handed out by the panel, including £523,000 in development grants, which should see 46 posts created on Innovation Drive.

Councillor Shah Hussain, cabinet member for regeneration and economic development, said in an executive report: “Discussions are currently taking place with other companies who have expressed an interest in the site and if all the enquiries are successful a further 200 jobs will be created on the site.”

Part of the old Michelin plant, which closed in 2002, was taken up by aerospace giants Aircelle, Burnley’s largest private employer, and the Lancashire Digital Technology Centre occupies some of the remainder.

Earlier this year Burnley, which is also looking to advance plans for a Vision Park, an advanced manufacturing hub near to the Burnley College and UCLan campus, was named the “most enterprising place in the UK” by the Department for Trade and Industry.

The latest in hi-tech milling machines was brought to Burnley by Kaman, which supplies mould and assembly tools for the aerospace industry and was formed in 2008 when the Connecticut company bought out Darwen’s Brookhouse Holdings.

Council bosses in Burnley were hopeful that the RGF funding would eventually result in around £7.5million being generated by the private sector and had originally set an upper limit of generating 150 jobs.The authority also established a £1million fund to aid small and medium enterprises.