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
Warnings in place for parts of the region as rain heads into cold air....just in time for the start of December and the Tuesday rush hour
With internet sales set to peak today Cumbria Trading Standards is warning of the dangers of buying counterfeit Christmas presents.
Cumbria Police issue burglary and theft warning ahead of the festive season.