The site, which is owned by the Belfast City Council, aims to attract local, national and international investors.
Enterprise, Trade and Investment Minister, Jonathon Bell, said: "Bringing together companies working in renewable energy, recycling and other environmental technologies the Environmental Resource Park will develop an innovative Cleantech business cluster, the first of its kind here.
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"This has the potential to make Northern Ireland a world leader in investment in green technology and attract further opportunities. It has the potential to create up to 400 green collar jobs, enhance Northern Ireland's economic infrastructure, encourage innovation, collaborative research & development and develop the green economy.
"The project is part funded through a European funding programme that specifically supports local economic development. It is a great example of how local councils can bring forward projects that will specifically address the economic needs of their area and develop solutions that will not only benefit locals businesses but also help them attract inward investment."
The project is jointly funded by Invest Northern Ireland (£2m), Belfast City Council (£3.5m) and the European Regional Development Fund under the Sustainable Competitiveness Programme for Northern Ireland under the Local Economic Development (LED) Measure (£4m).
(CD)
