A specialist insurance company says it hopes to open its headquarters at Gloucester Docks by 2015.
Ecclesiastical Insurance agreed the deal last year with landowner the South West Regional Development Agency (SWRDA).
The site at the Southgate Moorings Car Park is the last remaining plot of land awaiting development in the docks.
The company, which employs about 600 staff, is currently based in Brunswick Road in the city.
Chris Pitt, from Ecclesiastical Insurance, said the move would benefit the city.
"It's keeping 600 jobs in the city and those people spending their money, working and being part of the life of Gloucester is going to be a good thing," he said.
"Gloucester is doing well...it's great that our story is positive and we can be part of the growth of the city."