As part of the ambitious plans, almost £1bn will be spent over the next 10 years on a number of major construction projects.
These include new schools, play areas, sports facilities, roads and flood prevention.
A report is to be presented to the full Council on Thursday 27 June and will set out a firm five-year programme of £470m, with an indicative second five-year programme on a similar scale.
The local authority view the commitment in a new 10-year scheme as a significant boost to the Highland economy, with the potential to create 500 in the construction industry, in addition to jobs for young people through the new shared apprenticeship scheme.
The funding package identified in the report is in place for the first five years with the investment fluctuating from £78m to £117m per year for the period.
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This is a 16% increase from recent years and will see the Council increase its borrowing at a cost of £2.5m per year to finance the additional capital investment.
The indicative programme between 2018/19 and 2022/23 represents project priorities.
Council Leader Councillor Drew Hendry said: "A key priority of this Council is to support the creation of jobs to ensure the economic growth of the Highlands. We can deliver this commitment by moving to a 10-year capital programme and allocating levels of annual investment on capital projects far beyond anything achieved before.
"We estimate that our spending in the firm first five-year programme will create up to 500 new jobs in the construction industry and many of these will be young workers through our recently announced shared apprenticeship scheme.
"Over the second five year programme we would aim to maintain the momentum of spending. This is really very exciting news for the Highlands. It has the potential to transform our economy."
Mr Hendry added that the local authority would have schemes "shovel ready" so that if extra funds are made available, it will be in a position to take advantage.
Over the next five years, Education Culture and Sport is in line to benefit from £201m, Transport Environmental and Community Services, £182m, and Health and Social Care, £11m.
Just a few of the projects which appear in the spending programme include major new schools, A890 Stromeferry Bypass, major and minor road improvements, River Ness flood prevention and town and countryside regeneration.
(JP/MH)
