ANM Group has announced its commitment to invest £4 million into the development of the planned extension of Thainstone Business Park.
The extension plans will see the existing Thainstone Mart and business park enhanced with the addition of new office buildings and parking.
Around 500 jobs are to be created as ANM Group has pledged to hire local suppliers for the development.
Pat Machray, ANM Group chairman, said: “The proposed expansion of Thainstone Business Park has been in our plans for a number of years and is the next natural step for the site.
“In 2012, the local area plan allocated this land for development, and we are thrilled to see it finally beginning to take shape.
“We have been a major employer and contributor to the North-east economy for more than 140 years, and as a farmer-owned co-operative, we continually strive to improve the business to provide the best service.
“This £4 million investment further demonstrates our commitment to Thainstone, which has and always will be a key hub for the North-east agricultural community.”
Over the last 26 years, ANM Group as a co-operative has significantly contributed to Scotland’s finances – a total of £4 billion – and the extended facilities will not only boost the local and national economy but also greatly benefit the Thainstone hub, the local business community, and Inverurie town.
Mr Machray added: “We are proud of our strong history at Thainstone, and it is vitally important to us that we do not to jeopardise the legacy we have created in any way.
“We want to be a good neighbour, and we are taking steps to ensure that the new business park will be extended sympathetically in line with the current landscape by working collaboratively with our current tenants, the local community, and relevant authorities.
“Change can often be met with apprehension, but knowing we have the continued interests of the community at heart, we hope everyone will share our enthusiasm for this new chapter in our history.”
Pending approval, work is due to commence later this year with the first building due for completion in early 2018.