Spanish train company TALGO has established a UK head office at Barrow Hill Roundhouse near Chesterfield.
Chesterfield had been earmarked as one of five UK locations, including Leeds and St Helens, for a major TALGO train factory.
The town made it to the final two sites in the shortlisting process - but ‘narrowly’ missed out to Logannet in Fife, Scotland.
MORE: Talgo innovation hub to be created at Barrow Hill as Chesterfield narrowly misses out on train factory
Now the firm, famous for its 'fast, lightweight trains', has opened a British HQ at Barrow Hill and will also launch an innovation centre at the historic railway hub.
The centre will act as a focal point for TALGO UK’s research and development, bringing together networks of engineering excellence, and creating new opportunities throughout the country.
Recently appointed TALGO UK managing director, Jon Veitch said: "It has been a privilege to be part of a team that has worked over the last three years to establish TALGO UK.
"I want to thank our many partners and supporters across the UK, who share our vision and who have helped us to reach this point."
Professor Mark Robinson, chairman of Barrow Hill Roundhouse Railway Centre, said: "I’m very excited that we will host TALGO UK’s Head Office at Barrow Hill Roundhouse.
"This is a very significant step, as TALGO UK progresses with plans to reinvigorate UK manufacturing.
"Work continues on planning for the adjacent Innovation Hub – which will help to coordinate, transfer and consolidate TALGO UK’s knowledge and research and development programmes.
"From a modest start, nearly two years ago, we collectively continue to work on plans that could change the economic outlook for Chesterfield."