Up to a thousand aviation jobs could be created in the Vale of Glamorgan. Cardiff Aviation which provides aircraft maintenance and training will be based at the St Athan Enterprise Zone.
An new aerospace firm has announced plans to operate an aircraft repair facility at the Twin Peaks hangar in St Athan.
Cardiff Aviation - led by the Iron Maiden singer Bruce Dickinson - says the development will provide upto 1000 new jobs.
As well as maintenance of airliners and other large aircraft , the firmsays it will have the expertise and approval to certify aircraft from many jurisdictions, including the USA.
Business Minister Edwina Hart said it was "a strong vote of confidence" in the area, particularly in the light of it being named an Enterprise Zone.