The derelict land is next to Glasgow Airport

Abbotsinch, part of Wotherspoon Holdings Ltd, has been given permission to build a hotel and other facilities on the St James Interchange site.

It said 500 jobs would be created in the initial phase with the possibility of 5,000 in the long term.

Paisley North MSP Wendy Alexander has welcomed the news.

The plans include a 140 bed hotel with conference and leisure facilities, a petrol filling station, warehousing and a variety of leisure business opportunities.

The company has also secured consent for use of part of the site on a temporary basis for long stay parking, principally for airport users.

I am certain this development will make a big impact on the area by bringing up to 5,000 new jobs Wendy Alexander MSP

It has pledged to carry out road improvements in the area and even build a monorail.

And Abbotsinch is also pressing for a new railway station on the main Glasgow to Gourock line.

John Wotherspoon, chairman of Wotherspoon Holdings, said: "For many years this site has lain dormant and I am delighted that it is our company that is going to breathe new life into the site and, as a result of this, do similar for the local area.

"Our vision for the development is exciting and with the help of Scottish Enterprise Renfrewshire very achievable, particularly when you consider the location of the site right next to Glasgow Airport."

Monorail proposal

He added: "I have no doubt that the work we undertake on Junction 29 and the granting of consent to our request for the rail halt will lead to even more organisations showing real interest.

"In fact our long term vision includes a monorail link throughout, making sure that transportation links on the site are as a good as those to it."