Plans to build eight industrial units on the site of Drumbo Park dog track in Lisburn are expected to create around 24 jobs.
The small units are to be built on the site of the former south stand, which once overlooked the greyhound track and which was demolished last year for health and safety reasons.
The new buildings would not affect greyhound racing at Drumbo Park or Distillery's FC's football matches, which also take place on the site.
Plans submitted include the addition a new water harvesting tank associated with dog track maintenance.
Nicholas Rose, commercial director at Drumbo Park, said local businesses had already shown interest in occupying some of the units.
"The proposed business units are on the site of the former south stand that was demolished last year for health and safety reasons," he added.
"They will not impact on our greyhound racing nights or Distillery Football Club's matches.
"Their development is part of our diversification plans for the stadium.
"The application also includes a water storage facility for the well we have on site and to harvest rain water from the grandstand roof.
"We anticipate that the business units will support around 24 jobs and we have already had approaches from start-up companies in Lisburn looking to occupy several of the units."
The planning application was submitted on behalf of Yorsipp Limited, a pension provider based in Glasgow.
Each unit would have an internal floor area of around 55 square metres.
The current car park, which has 193 spaces, will be used to facilitate parking for the new units.
It is estimated around nine spaces will be required as well as one space for a commercial vehicle.
Drumbo Park reopened in October as a conference and events venue as well as a racetrack after it was bought over by an employee.
Operations director John Connor bought the venue a few months before it shut down in January last year with the loss of 44 jobs, bringing to an end 11 years of trading.
Mr Connor and Mr Rose formed a company called Run With Passion and made a deal with the liquidators to buy all of the assets, including the racing equipment.
Upon reopening, Mr Connor said: "We have reopened and rebranded as a conference and events venue. We want to make sure we are utilising the site, which goes beyond the racing, and that we are diversifying,
"We are in a great location for business breakfasts because it is a high-spec facility and very competitively priced compared to the city centre."
The company had a total of 11 employees in October and had brought in a partner to manage the restaurant side of the business.