A national company plans to build a new plant in Fall River's biopark, and bring 500 new jobs to the area. The company, who's name has not been revealed as of yet, has signed a "letter of intent" with the city.

The Fall River Redevelopment Authority says the company would build a one-million square-foot plant on 91 acres of land off Innovation Way. A report on heraldnews.com says the company plans to spend $100 million on the project.

According to that story, the next step is to have the 91 acres of land tested to be sure it's suitable for the construction project. The company also has 120 days to notify the city if it does plan to go forward with the purchase of the property. The price of the land has not been made public. There is also no estimate of when construction of the new plant would begin.

A Fall river official told the Herald News that the estimated 500 jobs would be be mostly the "blue collar" type.