Mark Pawsey MP was given a tour around the 85,000 sq ft Stepnell Park site on Lawford Road, which will include 10 new industrial, warehouse or trade counter buildings in the first phase of work.
The business park will bring up to 100 jobs to the West Midlands and is due for completion later this year.
Mr Pawsey said: "Developments such as Stepnell Park are crucial for our local economy. What we see here is a West Midlands-based company that is investing in our local area and demonstrating its commitment to creating jobs in Rugby and beyond.
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"After touring the site and hearing more about the opportunities it is bringing and will continue to bring throughout its construction, I am delighted to throw my full support behind the development."
Construction company Stepnell is developing the site while also serving as landlord, principal contractor and employer's agent.
The flagship scheme is being used to showcase Stepnell's 'Complete Construction Partner' approach.
Edward Wakeford, property director at Stepnell, said: "Stepnell Park demonstrates our ability to offer a complete development service, with our construction team working alongside our in-house property and development team.
"We are able to deliver schemes from the planning stages through to practical completion on site, and subsequently manage the development and its tenants.
"The site also marks a key investment in our own future, allowing us to create a modern working environment for our employees."
(CM/MH)
