The Eden Project is in talks to open a version of the Cornish visitor attraction in Morecambe.
The organisation said it is in the early stages of looking at the possibility of creating a “world-class Eden experience” in Morecambe Bay.
The scheme is expected to be located on the former Bubbles swimming pool site.
David Morris, MP for Morecambe and Lunesdale, said he believes the development would be “the makings of Morecambe”.
The Eden Project is working with the Lancashire Local Enterprise Partnership (LEP), Lancaster University, Lancashire County Council and Lancaster City Council on the proposals.
David Harland, chief executive of Eden Project International Limited, said the organisations were “in the early stages of looking at the viability and feasibility” of the project.
Mr Morris said he is currently seeking government funding for the project.
“It would regenerate the whole of the Morecambe area,” he told BBC Radio Lancashire.
“We’re trying to get tourism attractions that would aid educational purposes as well.”
The Eden Project opened in near St Austell in Cornwall in 2001 in a former china clay pit.
The company is currently working on new sites in locations including China, the USA and Australia.