A German car parts firm, Arntz Belting, has said it hopes to create more than 800 jobs in a multi-million pound development in Londonderry.
A spokesperson described the move as part of its "legacy to the people of Derry".
The firm plans to redevelop its factory site at Pennyburn which is due to close with the loss of more than a hundred jobs.
The fresh proposals include a major retail food outlet, hotel, and research and development facilities a move that has been a cautious reception from local political representatives as the Sinn Fein MLA, Martina Anderson has pointed out that a previous application for commercial and residential use had been refused by planners.
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If the move does go ahead, there will be additional jobs in the construction phase created too, adding a fillip for the beleaguered builders.
The SDLP Foyle MP Mark Durkan has also welcomed news that Arntz Belting has agreed a proposal to redevelop its site at Pennyburn once the company ceases production - entailing a multi-million pound development which could create more new jobs.
"It is welcome that Arntz is looking towards future economic activity on this significant site.
"People will want to look at the proposed mix of uses for the site given its direct proximity to Pennyburn Industrial Estate as well as neighbouring homes.
"While people may have their own questions about some of the detail, it is important that this site should not be lost as a location for employment. Forward-looking plans could complement wider developments in that area of the city," he said.
(BMcC/GK)
