A local councillor has been strongly welcoming the news.
56 acres of land have been secured for industrial development in Athlone.
IDA Ireland has bought the site, located beside the Department of Education on the N55 Ballymahon Road.
The foreign direct investment agency is earmarking the space for future development.
Local Fianna Fáil councillor Frankie Keena says it's a vote of confidence in the future of the town: