Insurance giant Zurich is in talks with Swindon Borough Council about relocating to the regenerated Kimmerfields development.
Zurich, which has had a strong presence in Swindon since the 1980s and employs hundreds of people in the town, approached the Council about being part of the major regeneration scheme.
The business wants to build state-of-the-art offices, with government agency Homes England bringing housing to the development.
The firm currently occupies space at the Tri Centre complex, adjoining the Kimmerfields development site.
Kimmerfields is a mixed-use scheme offering 600,000 sq ft of commercial offices, 100,000 sq ft of retail space, and 430 residential units, creating a new central business district for the town.
It will occupy a space just three minutes walk from Swindon railway station, and will also feature a relocated bus station and includes a new multi storey car park, which is already open.
Councillor Dale Heenan, Swindon Borough Council’s cabinet member for the town centre, said: “The Council’s regeneration of the town centre has been in the pipeline for the last 10 years, but we are now finally close to a major deal with Zurich and the Government agency Homes England.
“This deal will see construction start on new larger, modern, fit-for-purpose offices in our town centre next year.
“Visible progress for local residents and businesses is our number one aim so 2019 will be a major year for Swindon.
"Work should start on the indoor ski slope and leisure park at North Star, the Great Western Main Line has been electrified and the new GWR timetable will mean London is 45 minutes away, and now Kimmerfields.”
Kelly Hillman, senior development manager, public sector land at Homes England added: “We are keen to bring forward Kimmerfields as a commercial and residential site as soon as possible.
“Zurich’s interest in relocating to Kimmerfields is a positive first step in bringing forward wider regeneration proposals for the site, which includes a number of new homes.”