Daracon has been announced as the lead contractor for stage one civil works at the Newcastle Astra Aerolab site.
The $19.8 million project is expected to deliver 5,500 new jobs and create greater global connectivity for the region.
The state government has already contributed $11.8 million towards the project, which will be created on a 76-hectare precinct near Williamtown.
Stage one works include road pavements, sewer, water, lighting, CCTV, fencing, street furniture, signage landscaping and street art.
"We've seen our region evolve quickly in recent years and we're confident Astra will be a catalyst for further growth and development into the future," Newcastle Airport chief executive Dr Peter Cock said.
"I'm confident this development will become the pre-eminent space for innovation in aviation, defence and aerospace-related manufacturing, maintenance, research and education in Australia."
Daracon Executive Manager David Mingay said the project was an exciting opportunity for the company.
"We are a Newcastle business so it is great to be involved in a significant local project such as this. Astra Aerolab will be a great boost to the region, and another step in the ongoing success and growth of the airport," he said.
NSW Deputy Premier John Barilaro said the project would support the local construction industry and create future economic growth.
"Upon completion, this development will see new jobs created in the Hunter, greater global connectivity for the region and an injection of millions of dollars into the NSW economy," Mr Barilaro said.
Expected completion of the stage one works is scheduled for late 2020.
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