Richard Arkwright Junior’s life and works will be commemorated with the plaque at his former home Lumford House, in the grounds of the mill he built and ran in Bakewell.
Derbyshire County Council is installing the memorial and leader Cllr Andrew Lewer, also cabinet member for culture, will unveil it on Friday September 16.
Richard Arkwright Junior was the son of the brilliant industrialist credited with creating the modern factory system.
But he is well known in his own right - as the commercial brains behind his father’s mills, successfully expanding the family’s empire.
His is the fifth blue plaque to be unveiled by the council in its scheme to celebrate the important people and places of Derbyshire.
He was nominated by the Bakewell and District Historical Society and chosen as one of six people to get a plaque in a public vote.