Up to 300 jobs are expected to be created at a Prescot firm after the Liverpool City Region was awarded £23m from the regional growth fund.
Glen Dimplex Home Appliances Ltd is among three firms set to benefit from the major investment.
Company bosses plan to significantly increase Glen Dimplex’s manufacturing commitment to the area for brands such as Stoves, Belling and New World, as well as developing medical refrigeration applications.
The project is expected to create up to 300 jobs.
Redx Pharma Ltd in Liverpool and Unilever UK Central Resources on the Wirral are also set to benefit from the huge cash injection.
Redx Pharma will create a new pharmaceutical research and development centre for metabolic disease alongside its existing facilities for cancer, creating 107 new jobs.
The project will focus on new therapies in areas of high need in an ageing and increasingly overweight population, such as cardiovascular disease, inflammation and diabetes.
Unilever will use the funding to grow its product design capabilities in Port Sunlight, working closely with the University of Liverpool, University of Manchester and Sci-Tech Daresbury.
Coun Phil Davies (pictured), chair of the Liverpool City Region combined authority, said: “This is a fantastic boost for our region. One of our key objectives for the Liverpool City Region Combined Authority is to grow the economy and create jobs and today’s investment is a fantastic example of what can be achieved.
“By working together, I am confident that we will see many more investments like these in the region which will help the Liverpool City Region grow and prosper.”
The announcement follows weeks of negative publicity for the combined group after Liverpool maypr Joe Anderson threatened to quit in a row over who should led the authority.