A century-old manufacturing facility is set to be demolished ahead of the Brisbane Olympics. 

The state government has acquired the Visy Glass site in South Brisbane, where it plans to build a media centre.

Under an agreement worked through by Treasurer Cameron Dick and Deputy Premier Steven Miles, Visy will move to a new site at Stapylton.

Premier Annastacia Palaszczuk says the move is expected to create a $700 million investment into Queensland’s economy and 900 construction jobs.

Demolition of the South Brisbane site is planned for 2025.

Image: Annastacia Palaszczuk / Facebook