80 jobs will be created in Wigton at a company that will produce the Bank of England's new five and ten pound notes.
Innovia Security will spend 20 million pounds on a new factory to make the bills in 2016.
The first new-style polymer-plastic five pound note will feature the face of Winston Churchill.
A year later the polymer ten pound note featuring Jane Austen will come into circulation.
More top news
Emma Jesson brings you Saturday night's forecast
A few showery patches of rain become confined to western coasts through the remainder of Saturday afternoon. Brighter elsewhere
A look ahead at the weekend forecast for the Border region