After several months of uncertainty, developer the Heads of the Valleys Development Company has sealed a section 106 agreement with the local council allowing work to get underway.
Over £2m has been pledged to the community, paving the way to transform 830 acres of land near Ebbw Vale into the Circuit of Wales.
The new Welsh circuit will host all motor racing championships, except Formula 1.
The first phase will see construction of an international specification motor racing circuit, including a hotel and commercial and retail complexes.
Up to 3,000 construction job will be created and contractors are signed up to employing and training local people where feasible.
It will include a 3.5-mile track that takes advantage of the unique topography of Ebbw Vale, a Motocross track, an international karting track and off-road driving facilities.
In addition, a motor sport race academy will be created to develop young Welsh, British and European elite riders and drivers.
Jonathan Jones, head of training and recruitment for the project, said: “We envisage our construction partners, Griffiths and FCC being on site in the coming weeks commencing with outline ground works before construction proper begins early next year.
