The owners of Clacton Pier have urged Tendring Council to give the green light for a 30-metre-high wheel.
A full planning application for an observation wheel has been submitted to the council, which would be ready to operate once coronavirus restrictions are lifted.
Managing director Billy Ball said the new attraction will provide a valuable addition to the community, and is vital to the Pier's ongoing sustainability after a tough year.
The addition of a wheel has been part of business plans since Mr Ball took over the attraction in March 2009.
Nearby Clacton Pavilion believe the observation wheel "will also boost the town’s tourism economy", according to Pier bosses.
“The Pier has continuously evolved and developed throughout the decades as anamusement and entertainment venue,” added Mr Ball.
“We directly employ almost 200 staff during the peak summer months, with a full-timeteam in excess of 75, making us a significant employer in the district.”
“The income derived will also contribute towards recovery from the economic damagecaused by Covid 19 in what is a critical year for British seaside resorts and Clacton Pier.”
Mr Ball said that observation wheel would appeal to all age groups and, like the rest of the pier, will be a focal point for community events.
“Alongside our free community fireworks displays, charitable works and events, fundraisingefforts and the hundreds of free days out we give away to good causes each year, it willprovide further opportunity for this kind of activity,” said Mr Ball.
“As directors and owners, we feel a huge responsibility towards the Pier and the community it serves.
“The Pier - which was the first building in the new town of Clacton - is 150 years old this July and the wheel, alongside other new attractions such as the new Looping Star, is a great way to mark this historic anniversary.”
In February, plans for a 'Yarmouth Eye' on the seafront at Great Yarmouth were announced for the summer season.