The former MoD depot has been empty since it closed last year
A former Ministry of Defence depot that closed last year is to become a business park creating up to 400 jobs.
Carmarthenshire council and R&A Properties have struck a deal for the site at Llangennech near Llanelli.
They say they have already let a third of the 37-acre estate to a "blue chip" company that expects to employ 70 staff by the end of the year.
South Wales based R&A Properties said it would be investing £1.5m developing the site over the next six months.
The MoD depot closed in 2008 with the loss of 190 jobs.
The council acquired the site for R&A Properties just before it was about to be auctioned in March and the company has now bought it from them promising significant investment.
R&A bosses say the former depot, just a mile from the M4, offers prime office, warehousing and working facilities.
Company chairman Robert Lovering said: "We have moved quickly to secure this prime site, which will be known as the Stradey Park Business Centre.
The site has been officially handed over to R&A Properties
"We believe this is a winning site and aim to regenerate this fantastic facility to make it an unsurpassed location for business in Wales.
"I am especially pleased to announce that we have let a third of the site to a major international blue-chip company which expects to employ some 70 people by Christmas."
He said further details would be announced shortly.
Council leader Meryl Gravell said the deal provided tremendous regeneration and employment opportunities.
"R&A Properties have ambitious plans and are confident the business centre will build up a workforce of up to 400 jobs over the next few years," she said.
"This is excellent news for the local economy at a time when it is desperately needed."
Mr Lovering added: "The closure of the supplies depot was a major jobs blow for west Wales, but we believe the site has massive potential for both new and existing companies to provide jobs for the future.
"With its outstanding road links, first-class facilities and competitive rates, I am confident we will provide a superb environment for businesses to succeed, both now and in the months ahead."