Ilkeston Glass told the Advertiser that it has reached a deal with Derby College should plans for a supermarket and housing on their Field Road campus be approved.
The local firm sits on the plot where the proposed supermarket and housing will be built but if the thumbs up is given the business will relocate but stay in the town.
Managing director, Alan Bower said: “We have been in negotiations with Derby College and only Derby College.
“If the plan for the supermarket is to go ahead then we will sell to the college and relocate.
“This deal has come at a good time for the firm as changing regulations and the way we work means that really we need to remodernise and relocate.
“We’ve been here for years, we employ local workers and we rely on local business so we will definitely be staying in the town.”