There's some encouraging economic news for Zorra Township. The municipality is inching closer to a deal that could see the site of the former Maple Leaf Foods poultry processing plant in Thamesford redeveloped.

In an announcement this week, it was revealed council has entered into a conditional agreement to acquire the 121 acre parcel of land.

The plan is to sell off the land to developers in eight different parcels.

Right now deals are in the works that could see seven of the eight parcels sold to three different parties.

Zorra Township Mayor Marcus Ryan tells CTV News council would like to see mixed use development on the land which respects surrounding neighbourhoods.

That could include housing for a diverse range of incomes, household types and lifestyles that is sustainable and accessible.

Maple Leaf Foods announced in November 2016 its plans to cease production at the processing facility.

It finally closed in early 2018, putting 400 people out of work. It has since remained dormant.