WORK on constructing a new industrial estate near Lincoln is due to start later this week.
City engineering giant Siemens has signed a 12-year lease for its Teal Park site.
Teal Park will be built just off the A46 south of Lincoln.
The deal will see the company rent a 135,000sq ft premises on the site from property firm St Modwen.
The £20 million deal will see long-awaited plans to consolidate Siemens' gas turbine service business into one location.
The move will mean 500 jobs previously at risk will be secured.
The development will occupy 11 acres of Teal Park, off Whisby Road. It will include a 50,000sq ft office and an 85,000sq ft service workshop, with surplus land to allow for future expansion.
Work is expected to be completed by next December.
Siemen's Firth Road site will continue to operate until the end of 2012, while the Ruston site will remain open following the move.