Norwich Research Park is set to cover 900,000 square feet and house up to 300 companies within the next 15 years.
The ambitious plans have been laid out by the site's new CEO Roz Bird.
Its location, which currently covers 100,000sqft, on the western outskirts of Norwich already has 40 businesses renting laboratory and office space.
Roz Bird, who was appointed CEO in May 2022, said that they have planning permission to build on 800,000sqft.
She said: "So we will go from 40 to 200-300 companies here in new buildings that will be built.
"We plan to create desire for the Park through people understanding what's really here.
"I think there is a lot of potential here and if it is not maximised it's not benefiting the economy, it's not benefiting young people and it's probably not benefiting society as much as it could."
Norwich Research Park has already attracted firms from across the world that are carrying out ground-breaking work into food, genomics and health.
Part of the growth plan includes building on its international reputation for offering state-of-the-art research facilities to attract more global companies to its Norwich site.
Ms Bird is also keen for the hub to benefit the local community.
She said: "I think the development of the park is a massive positive in terms of the range of jobs that are created and the message to young people that there is something here for you.
"It's a multiplier effect, effectively creating jobs from marketing and national services, through to catering, local petrol stations and shops.
"Everything else gets the benefit of increased employment in this place, so I think the message is going to be, if we can grow Norwich Research Park that will have a real beneficial effect on the local economy."
The initial stage of the plan is to grow the number of businesses based at the site by 10 over the next 12 months.
Ms Bird said that they aim to attract a wide range of businesses from multinational corporations to start-ups.
She believes that its modern laboratories and facilities will help to attract firms, but the environment and lifestyle Norfolk offers will also make it an attractive place for businesses to relocate.
"I think the interesting thing for me is that I know how beautiful the area is and the quality of life here," she added.
"When I think about that and I think about the countryside, the broads, the coastline and Norwich city centre - it's a unique combination.
"It's just go so much charm, it's such a beautiful place."
Ensuring that the region has the talent to support firms at the park is an essential factor to its success.
Ms Bird explained that she is focusing on encouraging young people across Norfolk to study and consider a career in the science and research sectors.
She said: "We're working with local schools from primary upwards and influencing further education and higher education courses to encourage students to study STEM (science, technology, engineering and maths) subjects.
"We are also trying to get industry partners into schools to talk about what they are doing.
"Another factor is making sure the equipment the students are working on is up-to-date so that it is the same as what would be in the industry and make sure the basics are taught."
Another benefit to its location is that businesses at the site can attract talent from the John Innes Centre, which carries out research into plant science, genetics and microbiology, and graduates from the University of East Anglia.
"A case in point would be Tropic Biosciences and Colorifix, who are on a real growth phase now," Ms Bird said.
"They came to the park at a very early stage because of relationships with the John Innes Centre and they've since grown and they're employing lots of people all the time.
"They're able to do that from here either because of the people in the research institute, the university or locally."
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