It disclosed the plans at a public exhibition at the ANM Thainstone Agricultural Centre last week.
The proposals include a new abattoir and meat production facility at the site. Currently at the planning stage, it is hoped construction will begin in April 2018 with the facility fully operational by April 2019.
The public exhibition was to invite comment and opinions from interested parties before submitting a formal proposal to Aberdeenshire Council, although outline planning permission has already been secured.
According to the business, since its formation in 2012 with the combination of Scotch Premier Meats and Mathers (Inverurie) Limited, relocation to Thainstone from North Street, Inverurie has been a strategic aim for Scotbeef Inverurie Limited. However, it believed that such a large investment needed a "supportive economic and commercial environment together with agricultural sector conditions to support future supply of livestock".
The long-term strategy within the Scotbeef Group is to continually invest in the most up-to-date facilities to futureproof the business, and this development is of significant importance to the agricultural sector in north-east Scotland. The new site will have the latest environmental waste treatments and transport synergies.
Uel Morton, development director at Scotbeef, said: "Relocation to the Thainstone Business Park Extension, an area already widely utilised by other agricultural businesses, will secure employment for the workforce, secure markets for producers and reduce livestock movements through Inverurie town centre, while allowing the existing premises to be developed for residential use."