Tenders for the new Enterprise Centre in Castleblayney are being assessed.
€2.1 million was announced in February of last year.
It will be known as “The Ridge”.
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It’s hoped the facility, which will be located close to the Glencarn Hotel and SuperValu, will attract up to 70 jobs to the town.
The local Municipal District says tenders for the project have been received and are being assessed.
Building work is expected to take 18 months.
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New MD Chair Aidan Campbell says he’s hopeful the centre and the refurbishment of Gate Lodge 2 will bring a boost to Castleblayney: