Plans have been submitted by Yorkshire Ventures (Estates) to build cottages, apartments and holiday lodges on the Raithwaite Estate near Whitby.
Richard Jackson, the chairman of Yorkshire Ventures, said the plans for the upmarket resort met criteria set by the local authority and the Government.
He said: “Welcome to Yorkshire are very supportive and Sir Gary Verity (the CEO of Welcome to Yorkshire) has been kind enough to write a letter of support, which is on the planning portal.”
Mr Jackson said the scheme could provide a boost of between £7m and £8m a year for the local economy.
He added: “It’s another 450 full time jobs, but it’s not seasonal jobs which you often get in tourism. This is an all year round resort.
“It’s a hidden secret. It’s a beautiful site. The plan is to develop it out as soon as we get planning consent so we can assemble all the development funding.
“The holiday homes will be effectively self catering. A lot of self catering people will obviously use local businesses. It’s got great potential.”
A Welcome to Yorkshire spokesman said: ‘We are always happy to support our members in their ventures to create exciting new developments that will attract even more visitors to Yorkshire as well as creating more local jobs.”
The application is due to be discussed by Scarborough Borough Council’s planning and development committee on June 7.
Officers are recommending that permission be granted for the scheme, subject to the consideration of comments raised during consultation which included concerns about ecology and landscaping.