‘King of Pop’ Michael Jackson’s father is celebrating after clinching a new deal to create a museum worth $300 million dedicated to his late son.

Joe Jackson has spent the past decade trying to get the project off the ground and now the work could begin as early as next year on a museum and arts centre in the family’s native Gary, Indiana, reported Contactmusic.

Making the announcement with Gary dignitaries and investors on Wednesday he said, “This is a happy day for me because this is something that my family and Michael have always wanted. We’re bringing something back.”

Gary Mayor Rudy Clay, a long-time supporter of the plan, said the museum project will create thousands of jobs for locals and provide a huge tourism boost generating millions of dollars for the city annually.

“This project will be the magnet that will draw people from all over the world,” the Mayor said.

City officials have donated 300 acres of land as the site for the Jackson Family Museum and Hotel and the Michael Jackson Performing Arts, Cultural Centre and Theatre.