The University of Mississippi is buying a former plant site from Whirlpool Corp. for $3.4 million.

Vice chancellor Larry Sparks said officials don’t have a specific plan for the 68.7 acres bought for future expansion.

Local officials had hoped a manufacturer would buy it, providing new jobs and taxes. Max Hipp, director of the Oxford-Lafayette County Chamber of Commerce, says several companies looked at it over the past18 months.

The state Attorney General’s Office approved the university’s purchase as long as Whirlpool agreed to pay for any problems caused by hydraulic fluid contamination. The state College Board approved the deal Thursday.

The property was appraised at nearly $5.2 million. The university will use internal funds to pay for it.