TV and film production studio The Space Project will double in size after a £14million expansion was green-lit by Manchester City Council.
A total of 275 jobs will be created after 90,000 sq ft of new buildings are built, including a 30,000 sq ft stage.
The local economy is expected to be boosted by nearly £10million a year.
During excavations of the site in Gorton, east Manchester, it was discovered that it was the site of an iron works where 1,000 people were employed during the 19th Century industrial revolution.
Two of those employees, William Beastow and Thomas Goudbehere, formed a football team in 1880. West Gorton FC would go on to become Manchester City.
Susan Woodward, founder of The Space Project, said: “We are developing a further 3.5 hectares of land, literally on top of physical assets that drove the industrial revolution.
“It is fitting that we are building the next wave of Manchester’s industrial revolution, digital content, on a site that played such an important part in its industrial heritage.
“Although they are very different industries they are driven by the same ambitions – to be the best and provide new jobs and career opportunities for local people.
“The expansion of The Space Project will satisfy the nationally recognised demand for TV and film production stages as well as support space for the supply chain businesses, which will help grow the sector and allow Manchester to further develop its already prominent position within the UK for media production.”
Construction work is due to start in January, with completion expected to be in October 2017.
Manchester-based PRP architects, who designed The Sharp Project and The Space Project, have been appointed as architects on this new scheme.