Millions of pounds are to be spent on revamping buildings at the enterprise park created at the former RAF Coltishall air base.
Norfolk County Council is set to agree to provide a further £8.6m towards a £12m investment in the refurbishment of Scottow Enterprise Park.
Leaders at County Hall say the investment will support jobs and provide revenue for the authority by revamping buildings to rent out to businesses.
Some of the money to improve and bring empty buildings, including hangars back into use, will come from a pot of Enterprise Zone cash provided by the government, which can only be spent at Scottow.
But the council will be borrowing about £5m and, at a time when the authority is making £60m of cuts and savings, opposition councillors have questioned the wisdom of racking up further debts.
However, Fabian Eagle, the Conservative-controlled council's cabinet member for growing the economy, said: "Investing in the Scottow Enterprise Park means we could further build and expand on this success story which helps support the local economy and community."
The county council owns the enterprise park after buying it for £4m a decade ago and leases it to Hethel Innovation Ltd, which the council owns, to run.
The cabinet is due to agree to make £8.6m available for the revamp when it discusses County Hall's future spending on Monday (January 30).
And Mr Eagle said: "The council also receives significant income from Hethel Innovation Ltd and other leaseholders, providing much-needed revenue for the authority.
"Our continued focus is on the benefits and growing the opportunities on offer, by bringing more buildings into use for businesses which will help deliver even more local jobs."
But Steve Morphew, leader of the opposition Labour group, said: "I still have concerns that too much is being decided behind too many closed doors.
"Hethel is a business, wholly owned by the council so Norfolk residents are funding investment. They should know what they are funding and be clear about the return.
"Other wholly-owned companies get loans they are expected to repay with interest.
"Hethel is being supported with cash the county council will have to borrow and pay interest on for many years.
"I’m a big supporter of Scottow and job creation but there are too few details and questionable priorities for me to give unqualified support to this."
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