Crivens Properties has announced proposals to develop a mixed-use Business Park at a former school in Castlederg.
The plans have been welcomed by SDLP MLA for west Tyrone, Joe Byrne.
He said: "It is good to see a local development company, Crivens Properties, wanting to turn the former secondary school premises into a Business Industrial Park.
"This can create employment opportunities for local people and help new businesses to be housed in Castlederg. Castlederg has suffered a lot during the Troubles and the town is going through a regeneration process over recent years.
"The new St Eugene's project offers a great opportunity to help create employment opportunities for the future of Castlederg."
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