Two new occupiers announced by Farnborough developer Wilky Property Holdings will account for 90 jobs.
Expansion by an existing occupier, MFI, will double the 60 jobs already there.
Aldershot builder Talbot Design, which is responsible for both buildings, estimates that 200 construction workers will also be employed during the project.
With Boots set to close its nearby premises next spring, the success of the redevelopment of the former waste water treatment works in Holder Road is a major boost for North Town, says local councillor Keith Dibble.
"It proves Aldershot has a future and demonstrates how, if we persist with our urban regeneration policies, under-used sites can be brought back to prosperity."
One of the new occupiers is long-established local engineering business Linde Cryogenics, a world leader in the design and build of on-site air separation plants producing breathing quality oxygen and inert nitrogen.
Its 22,000 sq ft factory, including 5,500 sq ft of offices, will be completed by June this year.
Linde Cryogenics makes custom-designed plants for the oil, chemical, metallurgical, pharmaceutical, brewing and glass industries.
Its decision to move from nearby Ash Road, where it has been since 1980, ensures its 40 skilled jobs stay in the town.
The relocation will coincide with the tenth anniversary of its acquisition by Linde Gas and Engineering, which is part of the German multinational group Linde AG.
Meanwhile Bury Estates has acquired a 2.1-acre site for a client in the building supply industry.
It says 40 people will be working in a new warehouse due for completion in July.
Two companies already have warehouses and distribution operations at the industrial park.
Marketlink Marketing Communications has 30 people on site, as has the furniture company MFI, which plans to create another 60 jobs there over the coming year.
Two remaining plots of 25,000 sq ft and nearly 9,000 sq ft offer the prospect of still more employment to come.
Cllr Dibble added: "This good news comes just at the right time.
"The Boots job losses are undeniably a setback but, generally speaking, the town is on its way up, not down.
"New opportunities are also being created to utilise the skills of local people.
"Regeneration sites like Blackwater Valley Industrial Park play an important role both in creating space for local companies like Linde to expand and in attracting household names like MFI to the town."