Economic Development Minister Laurence Skelly says a project in the south of the Island could create up to 1,000 jobs.
Arbory, Castletown and Malew MHK Jason Moorhouse asked him to give an update on the Airport Gateway scheme in the House of Keys earlier this week.
In response, Mr Skelly said his department has a final development plan ready for approval.
He says the airport gateway would be a shot in the arm for the economy in the south of the Island.
Repairs on Peel Power Station to get underway
Manx Care doctor survey to be discussed by Tynwald
Weather warning for snow tonight
MHK queries safety at primary school in Ballabeg
Gales put two ferry sailings at risk tonight
Should the Island throw a birthday party for Barry Gibb?
Warning issued over icy roads
High ground could see 4 inches of snow on Saturday night