It remains to be seen what the former Kilmeaden Cheese Factory will become, however, there is a huge sense of optimism among business owners in the village following news of its' purchase.
Waterford company South East Construction who already own 20 acres of the adjoining land have now purchased the site of the former factory that was once central to the local economy.
It has been vacant for 15 years since the manufacturing of the cheese was moved to Glanbia's Ballyragget factory, and part of the site was demolished in 2018.
The owner of Centra in Kilmeaden, Donal Hickson, is hopeful the news of its' purchase will positively impact the local economy.
"There's a lot of speculation as to what is going to happen it and how soon they'll start but I think everyone is welcoming it and I haven't heard a negative thing about it.
"In 2018 when they demolished it gave us a glimmer of that they were going to do something with the site so today's news is fantastic to see.
"You would hope within the 67 acres there would be housing and a bit of light development there which would bring employment to the village," Hickson said.
Local publican Seamus Dunphy who owns the villages two pubs - The Sweep and O'Donnachas has faith in the company that has purchased the site.
"George and John Kent are excellent developers so we're delighted that they have it. They've built from Woodies to McDonald's and all across the city so whatever plans they have for it it will be good quality.
"It's nice to see there's now some activity with the site, everyone was looking for something to happen with it the past number of years so it's positive news," Dunphy said.
Waterford Independent TD Matt Shanahan feels the site has massive potential and is delighted it will be developed by a local company.
"It was targetted before as a high-value development site in Waterford that has the potential for housing, light commercial and industrial development.
"South East Construction know the site very well and already have other developments in the area, they know the history and are also now embedded into the future of it," Deputy Shanahan said.
