Two new buildings housing a total of ten light industrial factory units are coming to Rhymney.
EnCon Construction Ltd has been approved as the contractor and is set to move to the site on the Rhymney Lawns estate in January 2020.
The plans had been put to residents at an exhibition at Rhymney Library earlier this year.
The project has received funding from Caerphilly County Borough Council and the European Regional Development Fund through the Welsh Government.
Deputy council leader and cabinet member responsible for economic development, Cllr Sean Morgan, said: “I am pleased that this project is moving at pace and the contractors EnCon Construction Ltd will move on to the site as early as January 2020.
“It is thanks to continued partnership working with our colleagues in WEFO [Welsh European Funding Office] that we are able to transform this unused parcel of land to expand an existing estate to boost the local economy.”
Antonia John of EnCon Construction said: “As a Welsh construction and civil engineering company we are very supportive of investment within local communities within Wales.
“We see this project as a fantastic opportunity for EnCon Construction to be part of scheme that not only enhances the local economy, but also provides much needed employment opportunities for the local community of Rhymney and the surrounding wider community.”