A historic former cycle factory in Birmingham is to be turned into a £60 million hub for small businesses, arts organisations and academics.
The derelict Belmont Works site, built in 1899 and once home to Eccles Rubber and Cycle Company, will be transformed into the second phase of the STEAMhouse project, run by Birmingham City University (BCU).
The plot in Cardigan Street adjoins BCU's expanding city centre campus and won planning permission in 2016 to be turned into new commercial space.
The Department for Business, Energy and Industrial Strategy has awarded £14 million to support the project.
A further £1 million has come from the Greater Birmingham and Solihull Local Enterprise Partnership and BCU will provide the rest.
Belmont Works has also previously been used to produce linen clothing, bedsteads and pianos and as offices for the Co-operative Society from the 1960s.
It has stood derelict since being gutted by a fire in 2007.
Work will see the building receive an extension to its rear façade to provide upgrades and new spaces but the building will also retain many of its original features.
This new development will sit alongside phase one of STEAMhouse which opened in a former Volkswagen dealership in Digbeth in May to provide a space for small companies and artists to work together on new projects and business ideas.
It contains free facilities such as 3D printers, laser cutting machinery, virtual reality technology and printing studios.
The second phase will mirror this but also provide a new home for BCU's school of computing and the two sites are expected to create up to 10,000 jobs across the West Midlands region.
The name STEAMhouse is a reference to mixing arts with the traditional STEM subjects - science, technology, engineering and maths.
BCU's deputy vice-chancellor Professor Julian Beer said: "I am delighted to unveil our plans to develop STEAMhouse phase two and transform the historic Belmont Works building.
"It will provide space for talented and innovative people from across academia, business and civic society to come together and develop ideas and products that change the world.
"This marks the continuation of the university's commitment to the regeneration of the Eastside district of the Birmingham.
"I am particularly pleased that we have the backing of Government for a project that supports economic growth in the West Midlands."
James Brokenshire, Secretary of State for Communities and newly appointed Midlands Engine champion, said: "The STEAMhouse project is a fantastic example of how government investment is creating new jobs and boosting growth across the West Midlands.
"As the new Ministerial Champion for the Midlands Engine, I'm committed to improving opportunities across the region and this government funding will bring together businesses with the arts, science and academia under one roof to drive forward economic growth."
West Midlands Mayor Andy Street said: "STEAMhouse is a brilliant example of our Local Industrial Strategy in action, bringing together creative innovators from different sectors, and creating the leaders of the future right here in the West Midlands.
"As we seek to bring Channel 4 to the West Midlands, this milestone in the STEAMhouse programme demonstrates our existing expertise and our ongoing commitment to the creative industries here in the region."
The development continues the university's expansion in the Eastside district which has already seen Parkside Building and Curzon Building open and the Eagle & Ball pub revamped to create a new students' union building.
The campus will be one of the first things passengers see as they arrive in Birmingham on the new HS2 high-speed rail line, due to open in 2026.
