A MAJOR redevelopment of Rolls-Royce's massive Bankfield site could see half of it sold off to create a new business park.

If it gets the green light, the proposal could bring about a much-needed diversification in the local economy, after years of depending on a handful of major employers such as Rolls-Royce and Silentnight.

The revolutionary plan for the Bankfield site was unveiled by Rolls-Royce as part of its continuing company-wide drive to improve operational efficiency and increase competitiveness.

The company was hard hit by the terrorist attacks on America in September 2001 and the resulting world-wide slump in aerospace. It set in motion a series of streamlining measures, notably 3,800 job cuts across the UK including almost a third of the company's 1,080 workforce at its two Barnoldswick plants, Bankfield and Ghyll Brow.

When the redundancies were announced in November 2001, there was also talk of closing the Ghyll Brow plant, between Barnoldswick and Thornton-in Craven, and consolidating operations at Bankfield.

Now that plan has been superseded by the latest idea to redevelop and restructure the Bankfield operation.

A project team has now been set up to look at consolidating Rolls-Royce's existing operations at Bankfield into the newer buildings at the rear of the site and moving out of several older buildings that formed the original textiles mill taken over by the company in 1942.

If the plan goes ahead, the front half of the site could be sold off to form a new business park, suitable for a wide variety of uses and hopefully attracting a range of new businesses to the town. The redevelopment plan could also see some of the office workers currently at Bankfield relocated to the nearby Ghyll Brow facility.

The proposal would be subject to approval by Pendle Council, as the local planning authority, and would also depend on support from the North West Development Agency, which would assist in developing and marketing the proposed new business park. If it goes ahead, the consolidation programme would be completed by the end of 2005.

Hedley Hazell, managing director of Fan Systems for Rolls-Royce and effectively in charge of the Barnoldswick sites, said: "This exciting proposal would enable us to significantly reduce the overhead costs of operating the Barnoldswick site. It would also give us a new state-of-the-art facility where we could introduce modern working practices.

"These changes would improve the efficiency and competitiveness of the Barnoldswick site and help to secure its long-term future."

Mike Shields, chief executive of the North West Development Agency, hinted that the proposal would win strong support from the Government-backed organisation.

"We welcome this proposal, which would not only help Rolls-Royce to improve its competitiveness but would also help us to develop a new business park in Barnoldswick and attract new investment and jobs into the town.

"This could include aerospace and other high-tech companies including those who act as suppliers to Rolls-Royce."

The proposals for the Bankfield site are being discussed with the trades unions that represent the workers and with Pendle Council planning and development officers.