The Oldham Business Management School will be run by the council, Oldham College, the town's sixth-form college and the local Chamber of Commerce. It will also have strong links with the Universities of Salford and Manchester.
A private company will be set up with directors appointed from the partners as well as the private sector. The universities will also be represented.
John Battye, leader of the council, said: "In addition to giving Oldham a huge image boost, the new business school will provide the area with a one-stop shop for management and technology training, make higher education much more accessible and encourage local business to invest in management and technology training."The new business and professional school is expected to have an additional 300 full-time and several hundred part-time higher education students attending by the year 2001.
The school, which open in September 1999, will offer a programme of sub-degree, degree and postgraduate courses in business, management and information technology to both full and part-time students.