A new 54 million pound poultry processing plant could be built in Eye in Suffolk.
The development by food producers Cranswick will create up to 400 new jobs.
The proposed facility does still require planning permission and consultation is ongoing.
The company has also allocated a further £13 million to increase its existing milling and hatchery facilities at Kenninghall in Norfolk.
Britain's biggest tobacco supplier Palmer & Harvey has gone into administration, leaving 2,500 people out of work.
127 staff have been made redundant at the company's Brandon branch in Suffolk. Twenty one staff will remain at the depot on Wimbledon Avenue to help the administrators in winding the business up.
The wholesaler, which employed around 3,400 staff in total, has struggled with debts and efforts to restructure the business were unsuccessful.
"Any job loss at any time is sad news and at this time of year especially, we feel for the people who work there and their families at this time of year."
The company has around 90,000 customers ranging from small local corner stores to the UK’s largest supermarkets and it runs a delivery network of 14 regional distribution centres.
"The Palmer & Harvey name has been a trusted partner for retailers and suppliers for nearly 100 years. This is a devastating blow for everyone who has been involved in the business. The P&H Group has faced a challenging trading environment, and the need for significant restructuring has been recognised for some while. The company has insufficient cash resources to continue to trade beyond the short term and the directors have concluded that there is no longer any reasonable prospect of a sale. Therefore, the directors have had no choice but appoint administrators."
Soft drinks giant Britvic which plans to shut its Norwich production plant and move to its other sites in London, Leeds and Rugby, has seen its full-year profits tumble.
The group which is behind Robinsons squash said pre-tax profits fell 9% to £139 million in the 52 weeks to October.
Profits were dragged down by Britvic's three year 'business capability programme which cost £24.7 million in the same period.
Revenues for the full year rose by 8% to £1.54 billion the firm said, selling more than 2.3 billion litres of soft drinks, an increase of 1.2%.
"While April 2018 brings uncertainty with the introduction of the Soft Drinks Industry Levy in GB and Ireland, we are well placed to navigate it thanks to the strength and breadth of our brand portfolio and our exciting marketing and innovation plans."
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Watch a report by ITV News Anglia's Matthew Hudson.