A £3 million redevelopment of a major agricultural business is to create dozens of new jobs in the Thame area.
Farol Ltd, a John Deere supplier, is to build a brand new headquarters just outside Thame, creating more space for expansion and showcasing the business.
The company currently employs around 70 people at its Milton Common base, but the expansion is expected to create 20 new jobs straight away and ‘many more’ in the future.
Finance director Martin Jones said: “We needed somewhere for us to grow our business and somewhere which is a bit of a showcase.
“We will be in one building and we will have a showroom big enough to put a tractor in.
“We are thinking it will create about 20 jobs at first. Our workshop where we repair machinery will eventually be significantly bigger so over time we will have capacity for a lot more than 20 people.”
Mr Jones said many of the company’s employees live in the surrounding area and that trend should continue to be the case with the new jobs.
The money for the redevelopment was secured through a £5.2 million financing package with Lloyds Bank.
Farol, a family-owned business set up in 1976, provides a range of products including tractors, mowers and other vehicles to everyone from farmers to golf clubs and individuals.
The company, which has five sites in England, has a turnover of around £61m.
Managing director Matt Vellacott said: “The business has grown significantly in recent years by providing a comprehensive range of new and used products, supported by an excellent aftercare service.
“The redevelopment of our head office is a key part of our future growth plans and will ensure that we continue to offer customers the very best level of technical and agronomic support on site.”
The work is due to start in March and is expected to take around three years to complete.
Farol became a John Deere agricultural dealer in 2004 and has gone from strength to strength ever since.
Peter Jackson, from Lloyds Bank commercial banking, said: “Farol’s experienced management team, robust track record for expansion and strong reputation for technical and product expertise ideally positions the company for future growth.”