Town officials revealed what they plan to do with the property, which has been sitting vacant for years.
A marine campus, port activity, power plant expansion, and the biggest component, the "Whole Oceans" aquaculture facility, are all in the works.
It's part of a broader plan to redevelop the downtown.
"The town has attracted a lot of new businesses to Main Street and to our industrial park," said Susan Lessard, Bucksport's town manager. "All of this new development that's coming to that site will add to the successes that we're already having."
The plan was unveiled at an event Wednesday night at the Bucksport Middle School performing arts center.
Construction for the aquaculture facility is expected to start in 2019.