Wyre Council has given the green light for the extension to site by landowner Collinsons.
Previously, Collinsons had caused controversy by announcing plans to re-open the disused knacker's yard and build a maggot farm in the area.
Riverside Park, off the A6 at Catterall, is already home to about 100 workers, including staff at storage silo manufacturers and livestock feeding systems firm Collinson.
Collinsons' planning agent Mr
Graham Salisbury said the company wanted to concentrate on the expansion of the business park.
The newly approved plans, drawn up by Mr Salisbury, will see the building of four business units which will be used for a mix of uses, including light industry, office work and storage space. They will be built in a phased development over the next two years.
The plans show that the knacker's yard will be retained, although on a smaller footprint.
Mr Salisbury stressed there were currently no plans to reopen the knacker's yard.
The detailed layout of the expanded businesses park will be decided later.
Asked about Collinson's current thinking following recent controversies over the over the possible reopening of the knacker's yard and earlier plans for a possible deal with a maggot farm developer, Mr Salisbury said: "At the moment the applicant wishes
to concentrate on the proposed Business Park."