Retail discount chain Mr Price is to open a new distribution centre in Athlone.
The retailer says the new site will lead to 200 new jobs will be created over the coming years.
The company says it plans to develop the former Nexans site on the Cornmaddy Road - which has been vacant since 2008.
Work on the site is set to begin in August, with a separate building on the site set to become a 'picking station' for the company's online sales from next year.
It will see an overall investment of €2.5 million, with the creation of 200 new jobs.
The company plans to recruit 80 staff by Christmas and a further 120 jobs over the next two years.
Emma Pillion, Property Director with Mr Price, said: "Athlone is my hometown, so obviously I'm a little biased, but it's a great town to do business in, particularly given the accessibility of this site to the motorway and other key national routes.
"Athlone offers a centralised location, good infrastructure, a range of great housing at more affordable prices than competing centres, a great choice of schools, endless amenities, restaurants, and hotels."
Mr Price already employs 900 staff at 42 stores around the country, with plans to increase to 60 stores over the next two years.
