Cambridge-based firm Marshall Aerospace is entering into detailed discussions about relocating to a new site.
The firm is to show Huntingdonshire District Council its business plan with a view to a possible move to RAF Wyton from its Cambridge City Airport home.
On Sunday, Marshall said the plans were in their very early stages, but it was considering a move to either RAF Wyton, or RAF Mildenhall, Suffolk.
In June it was announced operations at RAF Wyton would be scaled down.
The Ministry of Defence (MoD) said about 500 jobs at the airbase, which are mostly administrative, would be relocated.
'Confidentiality agreement'
The Ministry of Defence wants to move much of this work to a site in the West Country.
The district council's cabinet committee will this week be asked to sign a confidentiality agreement with Marshall to allow it to look at the firm's business plan.
Terry Holloway, of Marshall Aerospace, told BBC News: "We are in very preliminary stages at the moment.
"Cambridge City Council have asked us to look at moving to make way for housing and if we can find a suitable site we would consider moving."
Two years ago Marshall Aerospace started looking at new locations after Cambridge City Council designated some of the firm's airport land for new housing.
A proposal to build 3,500 new homes near the Newmarket Road close to the Marshall-owned Cambridge City Airport are included in the latest plan for the city.
Marshall is keen to expand but has confirmed that the Cambridge site will remain home to the city's airport.
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