The Great Southern Waters seafood plant is expected to create eight full time jobs by June 2016, and seven more by 2017-18.
According to the Herald Sun, the construction of the processing plant will be subsidised by a $377,000 grant from the Geelong Region Innovation and Investment Fund, set up by the state and national government and Ford Australia.
Western MP David Koch said former local automotive factory workers would be well placed for the new jobs.
The seafood plant is currently a nursery, grow out and export facility that stretches across 20,000 square metres.
The jobs will come at a good time for a small section of ex-Ford production workers in Geelong, but will not cover the hundreds who have been made redundant.