UP to 2,000 jobs may be created during the next ten years as part of a £200m development on land next to Teesside International Airport.

Manchester firm Peel Holdings is preparing to build a 300-acre business park near the airport, with the first phase of work starting in 18 months.

A Peel spokeswoman said last night it was too early to say what type of jobs would be created. Peel, which took a controlling stake in the airport in January, has already been involved in the revamping of Liverpool's John Lennon Airport, Doncaster and Sheffield airports, the hugely-successful Trafford shopping centre in Manchester and the Manchester Ship Canal.

The company's acquisition of Teesside Airport came with a large amount of surplus land surrounding the terminal.

Roger Wheeldon, Peel's senior development surveyor, said: "We are working with One NorthEast to develop this and construct commercial business premises.

"We have found that a successful airport becomes a magnet for business. Increasing passenger numbers and the quality of an airport make it something people want to be associated with."

Peel has already secured planning consent to develop the land, on the south side of the airport.

Under the overall scheme, access routes to the airport will be improved and £20m will be invested to revamp the terminal buildings and facilities.

Peel, which holds assets worth £2bn, has helped to improve Liverpool's airport by investing £70m, increasing passenger numbers and bringing in new airlines.

It is hoped the same can be done for Teesside, which recently announced that budget airline bmibaby will run flights from there, making the airport its fourth UK base.