It is understood three new industrial facilities are to be developed at Moorfield Park and Rowallan Business Park in Kilmarnock.
The units will vary from 1,000sq m to 2,700 sq m and can be subdivided. Tenants will be responsible for fitting out the buildings, which could support up to 240 jobs.
The project includes funding from Scottish Enterprise and the council's Economic Regeneration and Development Fund.
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Announcing the scheme, Councillor Jim Buchanan said: "There are companies here producing an amazing array of goods and services which are in demand worldwide.
"And for many of them, this is spurring them on to fulfil increasing demand, create new jobs, and grow. However a dearth of suitable vacant premises is hampering expansion. That's why we've decided to step in and help, with the provision of three new units between our two premier Business Parks.
"We appreciate that the costs involved in new developments means that there is little incentive for private landlords to build units, and for many companies the cost of buying make such a proposition uneconomic.
"We've already tested the market with a 2,100sq.m unit which we built at Moorfield Park. Hyspec Engineering Ltd moved in there in April 2015 – a move which safeguarded 110 jobs and will lead to more in the future."
(LM)
