A new project that will bring an entirely new entertainment venue to Venice, Italy, has been unveiled by Italian ride manufacturer Zamperla.

The company has revealed that, in conjunction with the Venetian University Ca' Foscari, it has conceived plans to create a cultural and entertainment facility on the San Biagio Island, formerly the site of a waste incinerator and rubbish dump but which is currently abandoned.

The project will involve the recovery, requalification and improvement of the island to transform it into a leisure and entertainment destination for both locals and tourists, while on completion over 500 jobs will also be created.

A range of cultural and entertainment facilities will be provided, including theatres, bars, restaurants, exhibition spaces and other leisure offerings, all accommodated in three dedicated areas.

The 'natural/ecological' area will feature the scientific recreation of a 'Barena', a typical lagoon environment with a variety of flora and fauna, while the 'historical' area will include an educational and entertainment itinerary which will take visitors through the history of Venice.

A third area, the 'Venetian Carnival' will incorporate shows, parades and a range of entertainment options suitable for all ages. A 'green park' area will also be a feature.

Commenting on the project, Zamperla CEO Alberto Zamperla said: "The amusements district we developed in Coney Island, New York, is a clear example of how quality entertainment venues – besides providing families the opportunity to spend a day together having fun – can provide cultural insights, generate jobs and work as a catalyst for the whole area.

"Having the possibility to work on a similar project in Venice for me is a dream because I have always loved this city with its history, its democratic roots and its cultural vocation."