The project is still 14 months from completion but TransGrid's massive upgrade of the Queensland-NSW Interconnector is already attracting industry to Tamworth.
Member for Tamworth Kevin Anderson revealed the business interest at a groundbreaking of the multi-million dollar upgrade at a local substation on Thursday.
"We already are in discussions with a number of other companies ... looking at our area and looking at projects that could be set up and run," he said.
The massive increase to local energy transmission capacity "drives investment, it drives renewable energy growth," he said.
The Queensland-NSW Interconnector allows power regulators to shift energy from NSW to Queensland.
The project also allowed an additional 1000 megawatts of power transmission capacity in the region. Access to the transmission was oversubscribed by nearly seven times, TransGrid revealed last week.
The interstate upgrade is part of the Australian Energy Market Operator's Integrated System Plan, a roadmap to an energy system dominated almost exclusively by renewable energy in 2040.
Kevin Anderson said the upgrade showed "confidence in our region".
"If we've got the capacity here with this TranGrid substation to accept more generated power, regardless of the form that it's generated in, that will attract investment," he said.
"The energy market is a vibrant one and I think that it is a market that consistently looks forward and looks at opportunities and investment.
"Every time something like this comes onto the calendar it's like bees to a honey pot. Everyone wants in because it's green, it's clean, it's good."
The project is set to create 155 jobs.
It will be completed by November 2021.