A grant of £400,000 has been secured to bulldoze a 50-year-old derelict office block on Teesside and redevelop the site.
Billingham House, the former ICI headquarters, in Belasis Avenue, has been attacked by arsonists and vandals over the years.
Stockton Council now plans to pull it down in the New Year when a contractor is found.
It will then market the site as a development opportunity.
The money has been secured through the Tees Valley Industrial Programme (TVIP) and approved by One NorthEast.
Stockton Council recently took control of the building from owner Bizzy B management.
It will be marketed as a "gateway" site for new development at the heart of Billingham's process industries.
It is also hoped this will prompt further growth of biotechnology and life sciences in the town, the council said.
Work is already underway pumping water out of the building's basement so engineers can make a structural assessment.
Councillor Bob Cook, the council's cabinet member for regeneration and transport, said: "Seeing activity on the site is a really positive step in the process to see Billingham House demolished as we know it has become an eyesore."
In 2007 plans to turn the building into flats fell through.