The new technology park will be built as part of an expansion of the existing Malvern Hills Science Park, home to defence contractors QinetiQ and more than 40 more science and technology businesses.
The multi-million-pound plans will see an additional 11 acres of space built to create the new technology park as well as a new road and hub with conference suites connecting the new buildings with the existing park.
The money has been provided as part of the Government’s Getting Building Fund which aims to boost jobs and build infrastructure.
West Worcestershire MP Harriett Baldwin said: “Over recent weeks, I have been lobbying hard to make sure that these two important ‘spade-ready’ projects get the backing they need to get them underway.
“This is a huge boost for the recovery plans for our local economy as we work our way back from the impact of coronavirus.
“The expectation is that these two projects will create jobs both in the short term and long term and I am particularly keen that this helps to create opportunities for young people.
“I plan to work closely with the Local Enterprise Partnership, who successfully led this process, to create a framework for creating new apprenticeships and using local contractors, and these two awards become a springboard to future economic growth.”
Cllr Sarah Rouse, leader of Malvern Hills District Council, said: “Malvern Technology Park will build on existing success and create a science and technology park of a European scale and help to provide substantial numbers of high quality jobs.
“I am delighted the Government has shared our vision and will help fund the works required to provide the infrastructure and fully cleared and available development plots.”It is a significant vote of confidence in the unique potential of our local economy.”