The Menai Science Park has been awarded £10m from the European Union to help build a state-of-the-art hub, which will focus predominantly on low carbon and renewable energy businesses.
The project, led by Bangor University, has already been awarded £10m from the Welsh Government.
It will also complement the Energy Island initiative and the Anglesey Enterprise Zone.
“It will provide a dynamic and supportive environment for low carbon energy businesses in North West Wales, encouraging collaboration in the development of new products, processes and services,” said Welsh First Minister, Carwyn Jones.
“The investment will also support job creation, helping secure a sustainable future for Anglesey and contributing to economic growth for the area and the wider Welsh economy.”
Construction is set to begin on the complex at Gaerwen, Anglesey, during summer 2016 with first businesses expected to move in during early 2018.
“We now have the funding in place to deliver a truly unique resource for the region,” said Park Director, Ieuan Wyn Jones.
“This will not only offer high value job opportunities locally, but also benefit the whole of the north Wales economy by creating an inspirational work environment to attract local businesses and those looking to relocate to the region.”
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues