Gestamp is relocating from its current location in Cannock to the 550,000 sq ft site, which now benefits from access improvements off the A449.
LEP chairman David Frost CBE commented: "This is excellent news for our area, and further proof that Stoke-on-Trent and Staffordshire is a great location for businesses to grow and flourish – and it is a big vote of confidence in the UK economy.
"This announcement is the culmination of months of hard work by the local Gestamp management and ourselves to identify the right location for Gestamp to expand, retaining this important business in the Staffordshire area, facilitating the move and ensuring that local jobs are safeguarded."
Staffordshire County Council leader Philip Atkins OBE said: "Gestamp’s expansion in Staffordshire is great news for the county economy and for the country. This is a major decision by a Spanish company and is a demonstration of investor confidence in the UK and in particular Staffordshire and the West Midlands. This will lead to local job creation and retention as Gestamp is a thriving company in one of our key economic sectors.
"We have worked hard with colleagues at the LEP and the two district councils to enable the company to relocate within the county and been able to present a premium site ready for development with many excellent attributes. Following the allocation of £2m through the Local Growth Fund, the county council has created an access road to the site and work will now take place to improve the trunk road junction, linking to the M6 and M54."
The LEP invested £2m of its funding from the Government’s Local Growth Fund in opening up the Four Ashes site for industrial development, working in partnership with Bericote Properties and Staffordshire County Council.
Click below to sign up for daily regional business news