Tyson Foods’ offer to purchase a 10.72-acre parcel of land in Springdale, Arkansas, has been approved by the Springdale Public Facilities Board, which currently owns the property.

The land, located in the city’s technology park, is where Tyson Foods intends to build an incubation center that would serve a large portion of the company’s poultry operations in northwest Arkansas.

According to an ArkansasOnline report, Tyson Foods has agreed to pay $35,000 per acre for the land, which would total $375,200. The entities are expected to close on the transaction in December.

The proposed incubation center would be built with a heavy emphasis on state-of-the-art technology, a Tyson Foods spokesman said.

The potential hatchery facility is expected to replace the operations at the aging hatchery on Randall Wobbe Lane, also in Springdale. No plans have yet been revealed concerning what the company plans to do with the existing hatchery facility.

While the board’s approval of the sale marks progress toward Tyson Foods realizing its plans to build the hatchery, there are other regulatory approvals needed in order to make the project a reality. Tyson Foods has submitted a large-scale development plan for the incubation center to the city, and Springdale’s planning commission is scheduled to consider the plans during its December 1 meeting.