As part of the Edgar Street Grid regeneration project the existing livestock market has to be relocated.
The moving of the market has been discussed over a number of years and various options have been considered at different times.
Cllr George Hyde, Cabinet Member (Economic Development), said: “The relocation of the existing Livestock Market is essential to the success of the Edgar Street Grid project.
“Failure to relocate the facility and the related rural businesses will prevent the regeneration of the city and have significant effects on the status of Hereford as a sub-regional centre”.
The Council has now identified a site which it considers suitable and shortly it will, with a partner organisation, be starting the process of consultation with local residents, the Parish Council and other agencies etc.
This was agreed by Cabinet when it met today, Friday, September 1.
The site lies to the south east of the newly completed Roman Road and the development is a real opportunity to improve the service to the farming community and the agricultural industry in general.
The landowner, The Duchy of Cornwall, wishes to play a major role in supporting the local economy and it is hoped the Rural Business Park will become a resource centre for farming not just in the County but in the region.