A £7 million plan to expand a business park in Market Harborough has been unveiled by Leicestershire County Council.
Under the proposal, Airfield Business Park would extend by 80,000 square feet, to offer a wide range of premises for fledgling firms and companies looking to expand.
The plan would create up to 80 jobs, says the council.
It could also generate half-a-million pounds of income each year for the council to invest into front line services including social care.
Deputy county council leader, Byron Rhodes, said: “This proposal underlines that supporting local businesses is a priority.
“By building quality premises, we want to help firms take their first step on the ladder, and to grow.
“Investing in property also means we can generate income to plough back into services, reducing the impact of national funding reductions.”
The county council plans to expand the site even further in the future – eventually creating a 330,000 square foot. business park.
“Outline planning permission is in place” says a county council statement.
“More detailed proposals will be discussed by the council’s development control and regulatory board on Thursday, May 24.”
If the plan is finally approved, construction on the business park would get under way in later this year, with the first units being available from July, 2019.
The new Business Park, which is situated off Harborough Road in Market Harborough, would offer “high-spec industrial units” to let, ranging in size from 1,570 to 33,360 square feet.
Harborough District Council is looking to create its own “expanding businesses” office zone off Northampton Road in the town.
This rival £7.5 million plan, however, relies on funding of £3.28 million from the European Regional Development Fund (ERDF).
The outcome of the council’s funding bid to the ERDF will be announced later in the year
If funding is secured, the district council project will be completed by the end of 2019.