First meeting of county's new combined authority
The new body is a partnership between Lancashire County Council, Blackburn with Darwen Council and Blackpool Council and will see some powers currently held by central government devolved to it.
First on the agenda is appointing a chair and vice-chair, while other items include considering the authority budget for 2025-26.
The meeting will take places at County Hall in Preston from 16;00 GMT and members of the public will able to attend or watch the meeting online.
The board is made up of representatives of the three councils alongside two district council representatives and the chairman of Lancashire's Business Board.
The authority said it aims to address key priorities for the county's 1.5m residents such as improving public transport, boosting economic prosperity and enhancing employment and skills as well as tackling "historically low investment".
The new authority will have more powers and funding but it has fewer powers and less funding than a mayoral model.
Blackpool Council leader Lynn Williams said it was a "historic moment" for the county.
She added: "For our residents it means we can make more decisions about local issues locally and we have already seen some investment in Blackpool as a result of this."
Phil Riley, Blackburn with Darwen Council leader, said it was "evidence of the ability of the three major councils to work together for the betterment of the whole of Lancashire".
Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
County's combined authority officially launched
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Lancashire Combined County Authority
Lancashire County Council
Blackburn with Darwen Council
Blackpool Council
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