The Avon factory site has lied vacant for years.
Laois County Council has bought part of the site of a midlands factory which was demolished nearly a decade ago.
A six acre section of the former Avon Factory in Portarlington was sold to the local authority for €500,000.
The Environmental Protection Agency is continuing to decontaminate a separate two acre portion of the site, which is expected to be completed in a few years time.
The local authority plans to seek funding from the EU Just Transition Fund to carry out works on the area, in a bid to provide fully serviced sites for potential business opportunities.
Sinn Féin Councillor Aidan Mullins says the move should attracted new business ventures:
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