Council leaders and South Yorkshire metro mayor Dan Jarvis have agreed to give £400,000 to help build a permanent home for the iconic XH558 Vulcan bomber.
The Sheffield City Region Combined Authority signed off sum to the Etna Project Heritage Hanger, which will house the famous Cold War era aircraft at Doncaster Sheffield Airport.
The money is set to provide a secure and permanent base for the restored bomber and other heritage assets.
Space will also be made available for conferences, corporate and private events and educational activities for young people aged 7-14. It will also provide an ideal airfield viewing area and create a total of 25 jobs.
SCR bosses predict the scheme will generate 4.3 million to the local economy over 10 years.
Dr Robert Pleming, speaking on behalf of the Vulcan to the Sky Trust ,said:“The funding from the Sheffield City Region will be vital in delivering this heritage hangar, ensuring that XH558 is given the home she deserves and that the public can once again visit this iconic aircraft.
“We look forward to being able to announce the completion of contractual arrangements, and will keep supporters of the Vulcan up to date with our progress.”