More than 200 jobs could be created at a £5.2 million industrial complex due to open later this year.
Work on the Airfield Business Park kicked off at the start of 2019 and developers say it should be ready for the first tenants before Christmas.
It will offer a range of high-spec industrial units to let ranging from 1,570 to 33,360 sq ft.
It is being developed by Leicestershire County Council, which is also backing a separate scheme on the other side of the county in Coalville. Called Apollo Business Park, that should be ready for its first tenants in August.
Construction firm J Tomlinson has built the steel frames for the 80,349 sq ft Airfield Business Park, which is going up just outside Market Harborough close to the A6.
The county council made the investment from its capital programme, which is funded by proceeds of land and building sales, and government grants.
A council spokesman said several companies have already shown an interest in renting units. Profits made will go back to the county council.
Deputy county council leader Byron Rhodes said: “I’m delighted with the progress of this venture so far.
Most Read
“This will have a positive impact on the town which is one of our top priorities, as well as boost the local economy and create jobs.
“Investing in property enables us to generate extra income which we can then plough back into frontline services.”
Darroch Baker, construction managing director at J Tomlinson, said: “We are pleased to be making excellent progress on site, with steel frames having been erected over the last two months.
“We will continue to work in partnership with the council and their project team to ensure a high-quality finish in November, with occupants able to inhabit the new units in time for the Christmas period.”
The update comes a few days after Harborough District Council said longstanding tenants of its Harborough Innovation Centre – which stands nearby – should get ready to move on so that new tenants can replace them.
One business based in the innovation centre said an “unfair” change in policy that had seen more than 20 asked to leave.
The tenant said a lack of alternative office space meant some could be forced to leave the south Leicestershire district altogether, taking jobs and business rates with them.
Don’t miss
They said the council told them it had brought in a new lettings policy targeting sectors more closely aligned to a countywide industrial strategy – principally space technologies, health and medical technologies, advanced manufacturing and engineering, advanced logistics and textiles.
Leicestershire news
However Harborough District Council has now said it has reconsidered and will offer long-term occupants “more time and flexibility”.
It said when the council opened the centre on in 2011, with support from EU funding, the idea was to support start-ups and have a regular turnover of businesses, allowing new occupants to take advantage.
It said: “Some current occupants of the centre have been there for a long time.
“There is a risk that we could have to repay funding if we do not meet the original intentions.”
A spokesman has now said it had changed its plan, recognising that what it had said could cause undue difficulty for some firms.
He said: “Therefore the council is going to offer the affected occupants flexibility and agree departure dates that work for them as best as possible.”
Asked if there was enough appropriate alternative accommodation, he said: “We believe so, and will work with them to ensure that as many as possible re-locate within the district. If this means, they stay longer then we will do this.”