Wealden District Council has submitted a planning application for a business park in Farningham Road, Crowborough.
The project could begin at the end of this year and be completed by the summer of next year.
Last year, Wealden councilors agreed to keep the land, rather than sell it off, and instead deliver industrial facilities totaling around 12,900 sq ft on the 1.8 acre site.
Wealden District Councilor Philip Lunn said: “I am delighted that we have submitted a planning application for Farningham Road, which we believe will go some way towards reducing the shortage of small spaces in the Crowborough area.
“The project will provide a valuable opportunity to contribute to the local economy and create employment opportunities, the strategic development will allow the council to retain a direct financial interest that could generate an annual income stream and full return on investment for years to come. .
“With the planning application submitted, we hope to be able to deliver some of the greenest commercial premises in the Wealden.”
Crowborough Council and Chamber of Commerce believe the proposed business park could meet demand for jobs and attract new businesses, which they say are lacking in the Crowborough area.
Residents of the area are being urged to show their support for the project by submitting their comments on the planning application.