A global company bringing 300 jobs to Brighton chose the town above key cities in ten European countries.
Kimberly-Clark, the company behind such household brands as Kleenex and Andrex tissues, is now in talks with agencies to find a building big enough to house its new pan-European service centre.
The firm hopes to have the operation up and running by August next year and will be recruiting for posts in the financial services and administration sectors.
The corporation has already looked at vacant offices in Preston Road and the former headquarters of banking giant Alliance and Leicester, which backs on to Hove Park, but said these were not at the top of its wish list.
Other sites which could accommodate such an operation include the former Sunblest factory in Woodingdean and Princes House in Queen's Road, near Brighton station.
The company will combine its financial services and accounts offices across the continent into one new building. It decided Brighton was the place to be rather than its ten current city offices, including those in Belgium, France, Italy, Germany, Spain, and Switzerland.
But although the deal has been secured, the company has not revealed the exact address of the new service centre.
Corporate communications director Lyn Mayes said: "We are looking at a number of sites but no decision has been made.
We expect to make a decision before the end of the year. "We going through a very thorough selection process to identify the right sites.
"We are looking to move into an existing building. We are nowhere near signing a contract yet.
"Obviously it will have to be suitable to accommodate 250 to 300 people.
"We will probably be looking at all the available sites in the area."
News of the new venture has been welcomed across the town. Guy Davenport-Strange, head of policy for Sussex Enterprise, said: "It's a good example of how Brighton is capable of attracting inward investment and companies from all sectors."
Councillor Geoffrey Wells, who represents Woodingdean, said: "I would welcome them to Woodingdean. Since the Sunblest building closed down, it has been an eyesore.
"It seems to me that this is the only site in the Brighton and Hove conurbation which could house a construction of that size."
Councillor Don Turner, a member of the economic development committee, said Kimberly-Clark had earmarked several sites but would not divulge details.
He said: "I'm not at liberty to tell. I would be breaking confidence with the company, which has asked us not to do that because it has not decided yet. It is likely to be central Brighton."
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