MOLE Valley Farmers has invested in a manufacturing plant that will bring more jobs for Teignmouth.
The dockside plant is due to be completed next week and will have the potential to produce and pack fertiliser at a rate of 120 tonnes of per hour.
Fertiliser manager Neil Stallard said due to the fact that the packing plant is a new venture, the amount of people needed is yet to be decided.
The plant currently employs 10 people.
'Ultimately, the view is to employ people living in and around Teignmouth.' Mr Stallard said.
The farmer-owned supply and marketing business currently employs 500 people nationwide.
The new site replaces two former operation plants in Barnstaple and Crediton.
It is estimated that at peak trade times, the Teignmouth works will treble the amount of fertiliser produced by the now defunct north Devon sites.
The company rents the Teignmouth premises from the dock authority, Associated British Ports.
Mole Valley Farmers' chairman Ronald Fowler said: 'I'm sure it will bring more interest to the docks.'
'It will enable us to increase the volume of output which will mean cost savings.'
'The dockside facility will also reduce transport costs and make the company more competitive in this price-sensitive sector.'
The new plant is not thought to mean increased road traffic.
'The important thing to consider is that since animal feed has dropped away at Teignmouth, there has been space available for fertiliser.
'The overall amount of traffic will not have gone up.' said Mr Stallard.
The Teignmouth investment forms part of Mole Valley Farmers' overall business development plan.
Mr Fowler said: 'To the best of our knowledge, no other farmer-controlled supply business in the UK is currently investing on this scale.
'The decisions we have taken during the year are focused on the long-term future, will improve Mole Valley Farmers' product offering to its customers and consolidate the company's position in an increasingly competitive market for domestic and farm products.'