We had some fantastic news for the area last week when GlaxoSmithKline announced its decision to build a new factory in Ulverston. They will spend about £350m on the existing site in the town which it said would create up to 500 permanent jobs.
Business leaders said it was crucial to the area's economic future.
They said the new factory would help retain young people in Cumbria as well as attract skilled workers into the area from further afield.
Cumbria County Council leader Eddie Martin said: "This is fantastic news for Cumbria and I'm delighted that GSK have recognised not only the broad and specialised skill base we have here, but also that Cumbria is a fantastic place to live and do business.
"They're setting up shop in a wonderful part of the world and it's the best bit of news for the Cumbrian economy we've had in recent years."
Great support from the local community, local MP John Woodcock, the council all came together into a very competitive bid. Kept it in Britain and then kept it in Cumbria."
He acknowledged that the new jobs would bring levels back to what they had once been.
Cumbria Chamber of Commerce chief executive Rob Johnston said Thursday's news was "massive" for Cumbria and the choice of location was crucial for the long-term economic survival of south-west Cumbria.
But with an unemployment rate of just 3.5%, he said many of the skilled jobs would be an attraction for graduates from the whole of the north-west of England.
He said: "The choice of Ulverston is very clever, when you think of the potential for attracting graduates from places like Manchester.
"Obviously, news like this will also help to retain young people in Cumbria who might otherwise move away.
Prime Minister David Cameron who visited the site in Ulverston last week said it was "excellent news for Cumbria".
"A major investment that will create many highly-skilled jobs and provide a huge boost to the area," he said.
"The plans for a new manufacturing facility at Ulverston show why we are right to cut business tax and focus on making the UK a dynamic and competitive place that can attract exactly this type of high-tech investment."
Barrow and Furness Labour MP John Woodcock said: "After a hard fought competition with other UK sites, GSK's decision is a major vote of confidence in the brilliant and determined workforce at Ulverston.
"There is so much potential in this region if the government is prepared to build on Labour's commitment to innovation and investment which set in train the process that Ulverston has won today."