Corby is set to be granted assisted area status, a move which would boost job creation and growth.
The new status would make local businesses eligible to bid for additional funding and tax breaks to create jobs, invest in new premises or machinery and grow.
The status is subject to approval by the European Commission and its decision is expected in late May,
Corby MP Andy Sawford has campaigned for Corby to be designated an assisted area, working closely with the borough council and the local enterprise partnerships.
He said: “I am delighted our campaign for Assisted Area Status has been successful.
“For the past four years Corby has been at a competitive disadvantage to other areas of the country, despite having higher levels of unemployment and a need for support. I will now be lobbying the European Commission to approve the re-drawn Assisted Area map.”