South Kesteven District Council approved plans for a new £100 million designer outlet village just south of Grantham.
The SKDC planning committee approved 10 votes to 3 plans for the site on a 36-acre section of the King 31 land on Tuesday, December 12.
Construction of the 270,000 sq ft village is set to begin in 2018-19, with the first phase anticipated to open by Spring 2020.
Rioja Developments will work with Grantham investor and property owner Buckminster to create the retail village, consisting of around 130 shops, restaurants, cafes and a hotel.
It is expected that the development will create 1,500 jobs.
The site will also include 1,800 car parking spaces and is predicted to attract up to 3.5 million visitors per year.