Councillors approved plans earlier this month to submit a bid for the Ayrshire Growth Deal (AGD) to the Scottish Government in March 2016.
Each council has committed £50,000 to develop the proposals, while Scottish Enterprise has agreed to contribute £25,000.
It is understood the AGD will focus on five key areas; business architecture, physical infrastructure, skills and education, inclusive growth and digital infrastructure.
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The working groups – which consist of members from the three local authorities, Scottish Enterprise, Skills Development Scotland, Ayrshire College and the University of West of Scotland - are currently assessing a number of specific projects before finalising the AGD for its March submission.
In a joint statement, the three Council leaders (Willie Gibson NAC, Douglas Reid EAC and Bill McIntosh SAC) said: "All three Councils have much in common and by working together we can utilise and make the best of the resources available to us all.
"Growing our economies and creating jobs is a priority in all three areas. Of course there are issues unique to each individual area but by sharing our collective expertise, knowledge and resources we can really take our economies to a new level.
"The Ayrshire Growth Deal will be good for the whole of Ayrshire and for Scotland."
(LM)
