The advanced manufacturing centre, known as Factory 2050 project, will be located on the old Sheffield Airport runway and developed by the University of Sheffield.
The educational institution hopes the scheme will result in a similar success of its investment in the existing Advanced Manufacturing Research Centre (AMRC) in Waverley.
The Factory 2050 will be the UK’s first fully reconfigurable assembly and component research factory.
The centre’s design will enable the switching production to be alternated between different high-value components and one-off parts.
The new manufacturing hub will house a range of technologies, including advanced robotics, flexible automation, unmanned workspace and 3D printing.
The scheme is currently in the bidding process with the country’s main construction contractors submitting tenders next month.
Graham Sadler, Managing Director at Sheffield Business Park, said: “The construction of Factory 2050 will send out a clear message of our ambition to maximise the benefit to the City Region of this vital location.
“Individual sites on the remainder of Phase 2 will be available this autumn and plans are well underway for the speculative development of four high quality production units.
“These are due for completion in mid-2015, building on the University’s vote of confidence in Sheffield Business Park.”
The approval for the scheme was granted as a result of the economic benefits it will bring to the city. The scheme is expected to create 162 engineering jobs during the construction phase and additional 60 roles when fully operational.
The University of Sheffield has already secured a 50-acre land at the Sheffield Business Park, which is anticipated to accommodate a range of hi-tech, advanced manufacturing businesses along the Parkway corridor.
A detailed master plan for the entire 50-acre site will be submitted to Sheffield City Council’s planning department in due time.
Photo Source: Construction Enquirers