Nearly 3,000 jobs could be created at the former Kellingley Colliery, after consent was granted to develop a new business park on the site.
The project, by regeneration company Harworth Group PLC, is expected to bring 2,900 jobs and £200m to the local economy.
Chief executive Owen Michaelson said: “We’re delighted to have received the support of Selby District Council for our scheme that will make a significant contribution to Yorkshire’s economy.
“We’re fully committed to creating a first-class commercial centre that is likely to provide at least several hundred jobs in accordance with local planning policy, replacing the jobs lost when the colliery closed its doors in 2015.”
The colliery shut in December 2015, marking the end of a proud pit history for Yorkshire’s communities and bringing deep coal mining in Britain to a close.
Harworth took over the pit site last March. It aims to redevelop the land to provide 1.45m square feet of manufacturing and distribution space and replace jobs that were lost in the local community.
The company secured a ‘resolution to grant planning consent’ last week.
Selby council leader Coun Mark Crane said: “This site has the potential to create significant new jobs and bring in a huge amount of new investment.
“It benefits from the things that make our district a great place to do business, including fantastic transport connections, affordable business space and being supported by a skilled local workforce; all located right at the heart of Yorkshire.
“We’ve been working with Harworth and their advisors, North Yorkshire County Council and with Selby College to create the plan for the site, as part of our work to support growth and development which opens up new job opportunities and helps to make us a great place for business and a great place to live.”
Harworth has spent the last 12 months securing the site and demolishing redundant industrial structures.
It revealed plans for the colliery at public consultations with residents, businesses and councillors at Knottingley Town Hall and Eggborough Village Hall in September.
And it submitted an outline planning application last November.