Property developer, Clearbell Capital is planning to invest £21m in the expansion of the The Gates shopping centre in Durham by 2017, including new restaurants, shops, a multi-screen cinema.
It is estimated the scheme would generate around 180 extra jobs, as well as supporting 176 jobs in the construction phase. It will create around a £5m annual boost for the economy.
It's predicted that construction will begin early next year and the project will be finished by late 2017.