Discount shop, Poundstretcher, looks set to open a shop on the site of the old Co-op in Jubilee Walk.
The shop, which has been empty since the Co-op shut in 2011, is thought to be on track to become a Poundstretcher in October.
They are already seeking to recruit staff from the Haverhill area.
Paul Donno, Chairman of the Haverhill Chamber of Commerce, said: “Any company that employs people from the town is really good news.
“We are pleased that the building is being used. It’s not the big name we had wanted, but it’s a start.”It will provide competition with other shops in the area.”
Haverhill’s mayor, Councillor Betty McLatchy, welcomed the thought of the building being used for retail once again.
She said: “I think the fact the building is going to be used is brilliant, it has been empty for so long.
“Each time someone opens a new shop, other businesses move in too.
“I think Haverhill is on the up, and empty shops don’t look good. I have been campaigning for Haverhill and this is really positive to see. Haverhill is growing and this will bring confidence.”
Mr Donno agreed and said the new business would help improve Haverhill.
“It’s always a disappointment when businesses like HSBC and Ziess leave town or shut down,” he said. “I would like to think we are on the up swing and this will provide people with a better High Street. I believe they are recruiting now.”