Northamptonshire CC has picked up awards for being the most enterprising place in Britain, and for encouraging exports.
The awards are given annually by the Department for Business Innovation and Skills.
Council leader Jim Harker (Con) said: “To be named the most enterprising place in Britain is a wonderful achievement for Northamptonshire.”
He singled out the county’ support for the motor racing centre at Silverstone and the clutch of support industries that has grown up around it.
“It is important that we do all we can to support and promote our world class motor sport industry, which has Silverstone at its heart,” Cllr Harker said.
He added: “We are also determined that businesses across the county are able to compete internationally and build strong trade links with Europe and beyond.”
Northamptonshire will now represent the UK at this year’s European Enterprise Promotion Awards in Cyprus on 15 November.
The county said it saw high performance technologies as the flagship of its economy, being home to more than 1,500 companies in this field, some 200 of them concerned with motor sport.
Northamptonshire loaned Silverstone £10m when it future as Britain’s Grand Prix venue was under threat and followed this with a £1.5m joint venture investment in the circuit.
Its INV-ENT scheme enables technology firms to apply for up to £20,000 business rate relief.
Business and enterprise minister Michael Fallon said: “Northamptonshire County Council has shown real initiative in reinvigorating the local economy.”