Children from local schools joined MPs, councillors, company representatives and dozens of local people for the official opening of Junction 29A off the M1 motorway.
Derbyshire County Council Chair Councillor Joyce Sanders travelled off the new northbound exit sliproad before cutting a ribbon at the new £15 million junction.
MP for Bolsover Dennis Skinner and MP for North East Derbyshire Natascha Engel also joined the party on the sliproad to witness the official unveiling.
The £65 million Markham Vale regeneration scheme is a public and private sector partnership between Derbyshire County Council and Henry Boot Developments Ltd and will cover 360 hectares, creating 80 hectares of high quality commercial and industrial development.
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It is expected to bring 5,000 jobs - 2,000 of which will be new to the area, and its development is set to reverse the decline in the area brought about by the closure of deep mines, loss of textile jobs and the reduction in heavy industry.
After the ribbon-cutting, guests were invited back to the flagship Markham Vale Environment Centre which is up and running and has already filled half its units with tenants.
As well as the opening of the new junction, the county council and Henry Boot Developments are celebrating the granting of planning permission earlier this week for construction of the first buildings on the site which will start shortly.
Councillor John Williams said: "We're celebrating the opening of a new motorway junction and a lot more besides.
"Junction 29A is about improving the lives of local people. It's about making the most of the opportunities we have to boost jobs, tourism, strengthen the local economy, tackle poverty and improve the health of local families.
"It's also about doing our very best to make sure local people, especially our young people, have well-paid, skilled jobs to train and aim for.
"The new motorway junction has always been a vital part of the whole Markham Vale development and its opening is a major milestone."
(CD/JM)
