The units, which will range in size from 70sq m to 220sq m, will be constructed at Waterford Circle and arranged in four blocks.
The development is being undertaken in response to the increasing demand from local businesses looking to set up, or expand.
Councillor John Cowe, Chairman of the Council's Economic Development and Infrastructure Services Committee, said the decision was proof of the authority's commitment to local businesses.
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He said: "The first phase alone represents an investment of around £575,000 and will help meet the demand for small and medium-sized business and industrial units in the Forres area.
"Only two or three years ago the talk was all doom and gloom because of the impending closure of RAF Kinloss and the economic impact that would have. But there is now an air of optimism in the area and the development of these units demonstrates that Forres is very much open for business and looking confidently to the future."
Work is expected to begin on the first phase of the development – which will consist of four units – later this year.
(JP/CD)
